Turning your dream of owning a home into reality is now easier with the Bank of India (BOI) Home Loan. With decades of trust, attractive interest rates starting at 7.10%* p.a., and repayment flexibility up to 30 years, BOI offers multiple home loan options designed for salaried professionals, self-employed individuals, and even NRIs. Whether you’re buying your first house, constructing a new one, or renovating your family home, the Bank of India Home Loan ensures a seamless and affordable borrowing experience through minimal documentation, easy processing, and customer-friendly terms.
Bank of India Home Loan Highlights
Before diving into the loan details, it’s important to understand what makes BOI’s home loan products stand out. These loans are structured to offer both flexibility and transparency, catering to a wide range of borrower needs.
| Feature | Details |
| Interest Rate (Starting From) | 7.10%* p.a. |
| Maximum Tenure | Up to 30 years (360 months) |
| Loan Amount | Based on the applicant’s eligibility and scheme |
| Processing Fee | 0.25% to 0.50% of the loan amount |
| Prepayment Charges | Nil |
| Insurance Cover | Free accidental insurance up to ₹5 crore |
| Application Process | Both online and offline both available |
Bank of India Home Loan Interest Rates
Understanding the interest rate structure is crucial to planning your finances effectively. BOI offers competitive and transparent rates that vary depending on the loan type and the borrower’s credit profile.
The rates are linked to the borrower’s CIBIL personal score and calculated on a daily reducing balance, ensuring that customers pay interest only on the outstanding amount.
| Scheme | Interest Rate (Starting From) |
| Star Home Loan | 7.10%* p.a. |
| Star Diamond Home Loan | 7.10%* p.a. |
| Star Smart Home Loan | 7.10%* p.a. |
| Star Pravasi Home Loan | 7.65%* p.a. |
Also Read: Impact of Repo rate Cut on Home Loan
| Repo Rate and Its Impact on Bank of India Home Loans
The Reserve Bank of India (RBI) plays a major role in influencing home loan rates through the Repo Rate, the rate at which banks borrow funds from the RBI. As of December 2025, the repo rate stands at 5.25%, following a recent cut to boost affordable credit. A lower repo rate usually results in reduced floating-rate home loan EMIs, as banks adjust their Repo-Linked Lending Rate (RLLR) accordingly. For Bank of India borrowers, this means potentially lower interest costs and smaller EMIs on new or existing loans. However, since repo rates can change with monetary policy updates, applicants should always check the latest BOI interest rates before applying. |
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Bank of India Home Loan Processing Fee & Charges
Every loan involves certain charges, and BOI ensures these remain transparent and minimal. Understanding them helps borrowers make informed decisions.
| Type of Applicant | Processing Fee / Charge |
| Individuals | 0.25% of the loan amount (Min ₹1,500 – Max ₹20,000) |
| Non-Individuals | 0.50% of the loan amount (Min ₹3,000 – Max ₹40,000) |
| Prepayment Charges | Nil |
| Interest Calculation | Based on the daily reducing balance |
Compare BOI Home Loan Interest Rate with Top Banks
Below is a comparison of Bank of India Home Loan interest rates with other leading Indian banks and financial institutions.
| Bank / NBFC | Home Loan Interest Rate (p.a.) |
| Bank of India Home Loan | 7.10%* p.a. onwards |
| State Bank of India (SBI) | 7.50%* p.a. onwards |
| HDFC Bank Home Loan | 7.90%* p.a. onwards |
| Bank of Baroda Home Loan | 7.45%* p.a. onwards |
| Union Bank of India Home Loan | 7.45%* p.a. onwards |
| Axis Bank Home Loan | 8.35%* p.a. onwards |
| Kotak Mahindra Bank Home Loan | 7.70%* p.a. onwards |
| Federal Bank Home Loan | 8.75%* p.a. onwards |
| IDFC First Bank Home Loan | 8.85%* p.a. onwards |
| Standard Chartered Home Loan | 7.99%* p.a. onwards |
Note: The interest rates mentioned above are indicative and subject to change based on each bank’s internal policies, borrower’s credit score, loan amount, and market conditions. For the most accurate and updated rates, please visit the respective bank’s official website.
Bank of India Home Loan Eligibility
Before applying, it’s essential to check if you meet the eligibility criteria. BOI’s eligibility requirements are flexible, catering to a wide range of professionals and individuals.
Key Eligibility Criteria:
- Age Limit: Minimum 18 years and maximum 70 years at the end of the loan tenure
- Eligible Applicants: Salaried, self-employed, professionals, NRIs, and PIOs
- Employment Stability: Regular employment or business continuity is mandatory
- Credit History: Good CIBIL score preferred for better rates
- Co-applicant Option: Close relatives can be co-applicants to enhance eligibility
- Income: Regular income ensuring repayment capacity
Also Read: All Bank Home Loan Interest Rates
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Documents Required for Bank of India Home Loan
To ensure a smooth and quick approval process, applicants must provide basic documents for identity, address, and income verification.
For Individuals:
- Proof of Identity: PAN Card / Passport / Voter ID / Driving Licence
- Proof of Address: Aadhaar / Passport / Utility Bill / Telephone Bill
- Proof of Income:
- Salaried: Last 6 months’ salary slips, Form 16
- Self-employed: Last 3 years ITR with P&L account and balance sheet
- Bank Statements (Last 12 months)
- Property Documents: Sale agreement, approved plan, title deeds
For Firms/Companies:
- KYC of partners/directors
- Company PAN card
- Partnership Deed / MOA / AOA
- Audited financials for the last 3 years
Types of Bank of India Home Loan
BOI provides multiple home loan options designed for diverse customer groups — from first-time homebuyers to NRIs and HNIs. Let’s explore each type.
| Home Loan Scheme | Purpose | Ideal For |
| Star Home Loan | Purchase, construction, extension, or renovation | Salaried and self-employed individuals |
| Star Diamond Home Loan | Financing luxury or premium properties | High Net-worth Individuals (HNIs) |
| Star Smart Home Loan | Home loan linked with an overdraft facility | BOI account holders seeking flexibility |
| Star Pravasi Home Loan | Property finance for NRIs and PIOs | Non-Resident Indians / PIOs |
1. Star Home Loan
Designed for first-time homeowners and property investors, this is BOI’s flagship home loan product. It provides financing for the purchase or construction of a house or flat, with additional options for renovation and furnishing.
Key Features:
- Tenure up to 360 months
- EMI from ₹672 per ₹1 lakh
- Optional Top-Up and Balance Transfer facilities
- Smart Home OD facility available
- Free insurance cover up to ₹5 crore
Why Choose This: Affordable rates and long tenure make it ideal for anyone buying or building their dream home.
2. Star Diamond Home Loan
The Star Diamond scheme is tailor-made for customers purchasing premium homes in metro cities. It offers higher loan quantum and flexibility for high-income borrowers.
Key Features:
- Loan quantum above ₹7.5 crore
- Tenure up to 30 years
- ROI starting at 7.10% p.a.
- Smart Home OD and Top-Up facility
- No hidden or prepayment charges
Why Choose This: Ideal for HNIs seeking finance for luxury properties with minimal hassle.
3. Star Smart Home Loan
This unique scheme offers a home loan linked with an overdraft facility, enabling borrowers to manage funds efficiently.
Key Features:
- Minimum loan ₹5 lakh (salaried) / ₹10 lakh (self-employed)
- No maximum limit
- Overdraft access via debit card, net banking, or cheque
- Repayment tenure up to 30 years
- Free insurance up to ₹5 crore
Why Choose This: Perfect for individuals who prefer flexibility and want to save on interest through an overdraft-linked account.
4. Star Pravasi Home Loan
This scheme caters to NRIs and PIOs aspiring to buy or build property in India. It offers easy documentation and convenient overseas coordination.
Key Features:
- Tenure up to 30 years
- EMI from ₹689 per ₹1 lakh
- ROI starting at 7.65% p.a.
- Smart OD facility @0.50% above standard ROI
- Free insurance cover up to ₹5 crore
Why Choose This: Ideal for NRIs and overseas Indians looking for an affordable and convenient way to own property in India.
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Bank of India Home Loan EMI Calculator
Before applying, it’s wise to estimate your monthly repayment using BOI’s EMI Calculator. This tool helps you plan your finances efficiently.
Steps to Use:
- Visit BOI’s official Home Loan EMI Calculator page.
- Enter your loan amount, interest rate, and tenure.
- Instantly view your EMI, total interest payable, and total repayment.
- Adjust values to find your ideal EMI and repayment period.
Also Check: Home Loan EMI Calculator
Apply for Bank of India Home Loan
Applying for a BOI Home Loan is quick and hassle-free. You can do it online or through any nearby branch.
Steps to Apply:
- Visit the official Bank of India website.
- Select the desired Home Loan Scheme.
- Click “Apply Now” or send an SMS “STAR HOME LOAN” to 8467894404.
- Alternatively, give a missed call to 8010968305 / 8010968370.
- Fill in your basic personal and financial details.
- Upload necessary documents and await approval.
Track Bank of India Home Loan Application Status
BOI lets you track your home loan status online for transparency and convenience.
Steps:
- Go to the Home Loan section on BOI’s official website.
- Enter your application reference number.
- Click “Track Loan Status” to see real-time updates.
Bank of India Home Loan Customer Care
If you need help with your home loan or have any queries, you can contact BOI through multiple channels.
| Service Type | Contact Details |
| SMS Service | Send “STAR HOME LOAN” to 8467894404 |
| Missed Call Service | 8010968305 / 8010968370 |
| Customer Care (Toll-Free) | 1800 103 1906 |
| Branch Support | Visit your nearest Bank of India Branch |
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