Bank Of India Home Loans

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Bank Of India Home Loans system is quite varied. There are various types of Loans that are provided by the Bank of India. Bank of India was founded on 7th September, 1906 by a group of eminent businessmen from Mumbai. The Bank was under private ownership and control till July 1969 when it was nationalized along with 13 other banks.

Bank Of India Home Loans: STAR HOME LOANS

  • Provides loans to purchase a Plot for construction of a House, to purchase/construct house/flat, as well as for renovation/repair/alteration/addition to house/flat, furnishing of house, Takeover of customer's housing loan extended by other Banks/F.Is /NBFCs at highly flexible and liberal terms and conditions.

  • Under the Bank Of India Home Loans services the maximum loan amount is ` 300 lacs and repayment ranges up to 20 years, with a very reasonable margin and nominal processing charges. No commitment /administrative charges.

  • The Home Loans are provided at very Competitive Rates Of Interest, currently available in the industry.

  • In the Bank Of India Home Loans system there are options for different EMI amounts for different periods during tenure of loan to suit the customers' repayment capacities.

  • Prepayment of Loan permitted

  • Option for Floating as well as Fixed Rate of Interest.

  • Interest is calculated on daily balance basis which is of great advantage to customer as it results in lower interest amount.

  • Home Loans are given to NRIs as well as Persons of Indian Origin.

  • Simplified application form/procedures for convenience of customers, and speedy approvals.

  • Free Personal Accident Insurance Cover

  • Life Insurance Cover to borrowers for Loan Protection(optional)

The Bank's corporate personality and philosophy are fully reflected in the emblem, which is a five-pronged Star -- a harmonious blend of traditional and the functional. The elongated prong pointing upwards, conveys the Bank's drive to achieve ascending goals. The Star is a beacon and guide to those in need of direction.

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