Bank of India Home Loan Interest Rate – Complete Guide & EMI Tips

Key Insights 

1. The Bank of India home loan interest rate calculator helps you quickly estimate your possible monthly EMI and the total cost of your loan.

2. The interest rate starts at 7.10% and depends on your CIBIL score. Women applicants can also get special discounts.

3. A one-time processing fee of 0.25% of the loan amount should be included when planning the budget.

Are you thinking about buying a home and looking for a home loan interest rate? Start by checking the home loan interest rates bank of India. Try the Bank of India home loan interest rate calculator to find out your EMI right away.

The Bank of India home loan interest rate is what drives the cost of your loan and determines your monthly EMI. Like the State Bank of India home loan interest rate, this rate is a percentage added to your principal amount. 

Your final rate is personalised, and there are special discounts for Bank of India home loan interest rate for women applicants.

Example:

I used the calculator as a woman applying for a home loan. With a Bank of India home loan interest rate 10 lakh at 8.40% interest for 20 years, my EMI comes to ₹8,615. Knowing this makes it easier for me to plan for my dream home.

Types of Home Loans Offered by Bank of India

Whether you want to buy a plot or an apartment, the home loan interest rates bank of India offer an option to help you reach your property goal.

Here is the table that helps you to understand the Bank of India home loan interest rate:

Pick the Bank of India home loan interest rate that fits your property goals and financial needs, whether you choose Star, Pravasi, or another option. Even if you want the Bank of India home loan interest rate 10 lakh loan amount, you can easily apply.

Bonus Tip: Do you know? Applicants must be at least 18 years old and no older than 70 years by the time they make their final repayment.

Bank of India Home Loan Processing Fees & Charges

Find out the true cost of your loan. See how Bank of India’s home loan interest rate processing fees and charges affect the total amount you pay.
 

Make sure to include the one-time PPC of 0.25% in your budget so it does not affect your final loan amount.

Bonus Tip: Do you know? To apply for a Bank of India Home Loan, send an SMS with the text ‘Star Home Loan Furnishing’ to 8467894404. You can also give a missed call to 8010968370.

How to Apply for a Bank of India Home Loan?

Are you looking to buy your dream home? Learn how to apply for a Bank of India home loan in a few easy steps and get quick approval.

Bank of India Home Loan Online Process:

Here are the steps you can use to apply for a Bank of India home loan online in just a few minutes.

1. Go to the Bank of India website at bankofindia.bank.in. Click on either “BOI Retail Loans in just 59 minutes” or “Apply for Home Loan Online.”
2. Fill out the application by entering your details, your contact number for OTP verification, and the loan amount and tenure you need.
3. Upload your documents online. These include your ID (such as PAN or Aadhaar), address proof (like utility bills), income proof (salary slips or ITR), and your last six months’ bank statements.
4. Submit your application. You might receive instant in-principle approval or get a call from a bank official.

Get your home loan easily using the Bank of India website. The process is simple and fully digital.

Bank of India Home Loan Offline Process:

Visit your nearest Bank of India branch for personalised guidance tailored to your needs.

1. Visit the nearest Bank of India branch.
2. Talk to a loan officer, who can walk you through the different home loan options (such as Star and Star Smart), explain interest rates starting at 7.10%, discuss repayment periods up to 360 months, and help you check if you qualify.
3. Ask for a home loan application form and fill it in with your personal, financial, job, and property information.
4. Submit your filled-out form along with the necessary KYC, income, and property documents for verification.
5. Pay the required processing fee (for example, 0.25% for individuals, with a minimum of ₹1,500).
6. The bank will check your documents, review your credit score (CIBIL Personal Score), and carry out a property valuation.
7. Upon approval, you will receive a loan sanction letter. Review and sign the final loan agreement.
8. The approved loan amount will be given to you, usually according to the agreed terms, such as in stages linked to construction progress.

To make sure you have the right documents, please check with your branch before you go.

Conclusion

First, use the Bank of India home loan interest rate calculator to check your EMI. Look into special discounts available for women. Remember the low 0.25% processing fee, and pick the application option that suits you best for a confident home-buying experience.

FAQs

How’s the overall experience with BOI? 

People have mixed experiences with Bank of India (BOI). Employees often enjoy strong job security, but customers often complain about slow service, weak digital systems, and uneven service at different branches.

BOI or SBI for a home loan?  

If you are deciding between Bank of India (BOI) and State Bank of India (SBI) for a home loan, consider what matters most to you. BOI may offer faster processing and competitive deals, while SBI is known for its stability, large network, and special products like MaxGain.

How do I calculate a home loan for ₹30,00,000 with simple interest rate as a Bank of India employee (clerk)?  

If a Bank of India clerk takes a ₹30,00,000 home loan at a simple interest rate of 6.75% per year, the repayment works differently. First, the principal is paid off in monthly instalments of ₹12,500 for the initial phase. After that, the accumulated interest is paid through an EMI of about ₹18,984.38 for the rest of the 30-year term.

What is your home loan interest rate in India?

In India, home loan interest rates depend on the lender, your credit score, and the type of loan. As of late 2025, most rates fall between 7.10% and 9.5% per year. Major banks such as SBI and HDFC offer competitive rates starting in the low 7% range. Your credit score, income type, loan amount, and the current repo rate all play a big role in deciding the rate you get.

Can I prepay my Bank of India Home Loan?

Yes, you can prepay your Bank of India Home Loan at any time if you have a floating interest rate, and there are no prepayment charges.
 

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About the Author

LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.