About Bank of India Home Loan
There is nothing as important in anyone’s life as buying a home. You cherish thousands of dreams about your first home or buying a new home for your family and loved ones. You save over the years to buy that property for you. The decision of buying a home can’t be taken in a hurry as you need to analyze the information such as interest rate and other stuff, very minutely. There are many public and private banks offering home loan to the customers. You should not forget that you can avail the loan of up to a certain upper limit. Banks decide the loan limit and the maximum amount on your eligibility and repayment potentials. If the bank finds that your repayment potential is high and you also meet other eligibility criteria, the bank will easily give you a loan to fulfill your needs. A loan is an important financial tool in your financial journey if you don’t have sufficient funds. What is the best way to choose a bank as your loan partner? Well, there is no perfect tool or guide to select or rate a bank for borrowing the loan. But, you can choose a bank that is offering the lower rate of interest on flexible repayment terms.
Home Loan
Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure
By accepting our "Terms and Conditions" you authorize WIshfin and its associated Partner Banks to run a CIBIL/Experian check for your profile
To,TransUnion CIBIL Limited[Formerly known as Credit Information Bureau (India) Limited]One Indiabulls building ,Unit No 1901 – 1905,19th Floor, Tower 2A-2B, Jupiter Mill compound,Senapati Bapat Marg, Lower Parel, Mumbai 400 013
Sub: Grant of Consent
Dear Sirs,
In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Wishfin and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
- The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
- I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
- I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
- I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
- I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company
- I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Wishfin authorizing Wishfin to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Wishfin to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Wishfin to obtain my Consumer Credit Information .
- I understand that in order to deliver the product to me, I hereby authorize Wishfin, to obtain my Consumer Credit Information from TUCL.
- By submitting this registration form, I understand that I am providing express written instructions for Wishfin to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Wishfin account. I further authorize Wishfin to retain a copy of my information for use in accordance with [Wishfin’s] Terms of Use and Privacy Policy.
- I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
- I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Wishfin . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
- I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.
Yours faithfully,
Name :____________________________Address : ____________________________Date : ____________________________
Bank of India (BOI) provides you home loan to realise your dream of owning a home within your budget. BOI offers you loan to buy a plot for construction of a house, to purchase/construct house/flat as well as for renovation/repair/alteration /addition to house/flat. The bank offers you a home loan at a competitive interest rate. It also offers easy repayment facility of home loan. There are no pre-payment charges imposed on the loan. To avail home loan from BOI you need to follow a procedure and process of availing the loan. First, you have to submit the loan application along with all necessary and important documents with your recent photographs. There are other eligibility criteria to be met to avail a loan. Here are some important features and eligibility criteria of BOI home loan.
BOI Home Loan Interest Rates
Particulars | Details |
Interest Rate | 6.90% - 8.75% |
Tenure | Up to 30 years |
Loan Amount | No upper limit |
Processing Fees | 0.25% of the loan amount + GST |
BOI Home loan Eligibility Criteria
Salaried employees, professionals, self-employed are eligible to apply for a home loan. The candidates who have a regular source of income and meet a standard of eligibility can also apply for this loan.
Factors Affecting BOI Home loan Eligibility
BOI will take into consideration the below-mentioned factors to decide your home loan eligibility and the amount of loan that can be disbursed to you.
- Monthly Salary
- Age
- Property Value
- Credit History
- Employment status for salaried
- Professional details/Business status
- Relationship with the bank
- Your employer’s category
Purpose of loan
You can apply for this loan if you want to purchase/construct house/flat. The loan is also available for renovation/repair/extend of existing house/flat. The bank offers loan to those candidates also who want to purchase a plot of land for construction of the house. You can also use the facility to the takeover of home loan from other banks or financial firms in case you are fulfilling the basic eligibility criteria of the bank.
Maximum Loan amount sanctioned
Maximum Tenure for loan: BOI offers you a loan for a maximum tenure of 30 years, which also includes the moratorium period of 36 months (max.) in the monthly installments, including bank’s approved projects. Your loan tenure should be completed before your retirement age in case you are a salaried person and before attaining 70 years in the case of professionals, self-employed and others. Repayment mode of up to 70 years is also available for those customers who will be having assured income post retirement income.