Bank of India Home loan Interest Rates

Availing a home loan is no more a hassle as Bank of India is here to help. The bank by offering the best of home loans ensures to fulfill the dream home wish of many. The lender by offering the loan at attractive interest rates helps in lowering down your EMI and Interest burden. However, in order to know more about the interest rates offered by Bank of India Home Loan, take a look at the table below.

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Bank of India Home Loan Interest Rates May 2020

Interest Rate is that one important thing that an individual looks in any loan facility. The affordable interest rates of Bank India Home Loan facility makes it one of the attractive options around. Ranging from 7.25% - 8.15% per annum, Bank of India Home Loan interest rates help you lower down your overall EMI and Interest burden from your pocket.

The table below shows the interest rate as well as other critical information.

Loan AspectsDetails
Home Loan Interest Rate7.25% - 8.15%
Maximum Loan AmountUp to INR 500 Lakh
Maximum Tenure30 Years
Processing Fee0.25% of the total Loan Amount plus Applicable GST charges
Minimum INR 1,500
Maximum INR 20,000
Prepayment ChargesNil

Bank of India home loan interest rates are decided upon the CIBIL Score of an individual and the Loan to Value (LTV) ratio. We are providing details about the Bank of India Home Loan Interest Rates in the table below.

Floating Rate for Loan Tenure upto 30 years

The rate is set keeping in mind the CIBIL score and LTV ratio. Glance at the table below for specific rates.

CIBIL ScoreFor SalariedFor Self-employed
Score of 760 and above7.25% per annum ( No Further Concession for Women Borrowers)
CIBIL Score between 725 to 759Women Borrowers - 7.40%Women Borrowers - 7.50%
Others - 7.45%Others - 7.55%
CIBIL Score between 675 and 724Women Borrowers - 7.50%Women Borrowers - 8.10%
Others - 7.55%Others - 8.15%
CIBIL Personal Score of -1 and 0Women Borrowers - 7.40%Women Borrowers - 7.50%
Others - 7.45%Others - 7.55%

Bank of India Home Loan Balance Transfer Facility

Is your EMI amount too high for comfort? Maybe your current interest rate is much higher. To reduce the burden, you can shift the outstanding balance to Bank of India if it gives you lower rates on the said transaction. The lower rates will help reduce the Equated Monthly Installment and interest outgo over the course of a loan.

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  • Home Loan Interest Rates May 2020
    Axis Bank8.10% - 8.85%
    Bank of Baroda7.25% - 8.25%
    Citibank8.20%
    HDFC7.75% - 8.65%
    ICICI Bank7.70% - 8.80%
    Indiabulls Housing Finance Limited8.80% - 11.05%
    Kotak Bank8.20% - 9.25%
    LIC Housing7.40% - 8.85%
    Piramal Capital & Housing Finance9.00% - 9.10%
    PNB Housing Finance8.95% - 9.20%
    Reliance Home Finance8.75% - 14.00%
    State Bank of India/SBI7.35% - 8.00%
    Tata Capital9.20% - 9.35%