Introduction
If you’re looking to buy a house and need a reliable home loan then understanding the Bank of India home loan interest rate is essential. Bank of India (BOI) offers competitive rates tailored to various borrower profiles. Whether you’re salaried, self-employed, a woman applicant, or even an NRI, this guide will help you find the best fit.
In this complete article, we cover:
- Latest BOI home loan interest rates (updated 2025)
- CIBIL score-wise rate segmentation
- Special rates for women and salaried individuals
- Comparison with other top banks
- Eligibility, documentation, repayment, and tax benefits
Let’s dive right in.
Quick Facts – BOI Home Loan at a Glance
| Feature | Details |
|---|---|
| Interest Rate Range | 8.30% – 10.50% p.a. |
| Loan Amount | Up to ₹5 Crore (higher in metro cities) |
| Loan Tenure | Up to 30 years |
| Processing Fee | Up to 0.50% (max ₹20,000) |
| CIBIL Score Influence | Yes (Highly Impactful) |
| Women Special Rate | 0.05% concession on standard rates |
| Loan to Value Ratio (LTV) | Up to 90% of property value |
| Types of Interest | Floating & Fixed |
1. Bank of India Home Loan Interest Rate (2025 Updated)
Base Interest Rates as per Borrower Profile
| Applicant Type | CIBIL Score Range | BOI Interest Rate (Floating) |
|---|---|---|
| Salaried (Male) | 800+ | 8.30% p.a. |
| 750–799 | 8.55% p.a. | |
| 700–749 | 9.00% p.a. | |
| <700 | 10.25% p.a. | |
| Salaried (Female) | 800+ | 8.25% p.a. |
| 750–799 | 8.50% p.a. | |
| 700–749 | 8.95% p.a. | |
| <700 | 10.20% p.a. | |
| Self-Employed (Male) | 800+ | 8.40% p.a. |
| 750–799 | 8.65% p.a. | |
| 700–749 | 9.10% p.a. | |
| <700 | 10.50% p.a. | |
| Self-Employed (Female) | 800+ | 8.35% p.a. |
| 750–799 | 8.60% p.a. | |
| 700–749 | 9.05% p.a. | |
| <700 | 10.45% p.a. |
BOI Home Loan Interest Rate for Women
Women applicants enjoy a 0.05% p.a. discount across all slabs — a strong initiative towards financial inclusion.
Fixed vs Floating Interest Rate Comparison
| Rate Type | Advantage | Drawback |
|---|---|---|
| Floating | Lower average rate over time | Subject to RBI rate changes |
| Fixed | EMI stability throughout tenure | Slightly higher initial rates |
2. BOI Home Loan Products and Schemes
A. Star Home Loan (General Purpose)
For purchase/construction of a residential property.
- Rate: 8.30% onwards
- Max Tenure: 30 years
- LTV: Up to 90%
B. Star Top-Up Loan
Additional loan for existing customers for renovation or personal use.
- Rate: +0.50% on existing loan
- Tenure: Same as primary loan
C. BOI Star Smart Home Loan
Offers step-up/step-down repayment option based on borrower age.
- Rate: 8.55% onwards
- Suitable for young salaried applicants
D. BOI Home Loan for NRIs
- Rate: 8.50% – 9.50% p.a.
- Must be routed via NRE/NRO account
- Co-applicant (Indian resident) required
3. Eligibility and Approval
Salaried Individuals
- Age: 21–60 years
- Employment: Min 2 years total; 1 year in current job
- CIBIL Score: 700+
Self-Employed
- Age: 21–65 years
- Business Vintage: At least 3 years
- ITR Proof for 2 years
Co-applicant Case
- Spouse, parents, siblings allowed
- Improves eligibility and loan amount
NRI Applicants
- Valid passport and visa documents
- Power of Attorney holder in India
- Income proof from foreign employer
4. Costs and Rates
Charges Breakdown
| Fee Type | Amount |
|---|---|
| Processing Fee | Up to 0.50% (Max ₹20,000) |
| Legal & Technical Fee | ₹5,000 – ₹10,000 approx. |
| Prepayment Charges | NIL for floating rate |
| Foreclosure Charges | NIL (floating loans) |
| Stamp Duty | As per State laws |
5. Loan Terms and Repayment Options
- Max Tenure: 30 years
- EMI Frequency: Monthly only
- Repayment Options: Step-up, Bullet, Overdraft facility
6. Loan Disbursement Process
- Loan Application
- Document Collection
- Technical and Legal Verification
- Sanction Letter Issued
- Agreement Signed
- Disbursement in Tranches or Lump Sum
7. BOI Home Loan Calculator – CIBIL-Based Rates
To estimate your EMI, use the Bank of India home loan interest rate calculator based on your CIBIL score:
| CIBIL Score | Estimated EMI (₹30L, 20 years) |
|---|---|
| 800+ | ₹25,793 @ 8.30% |
| 750–799 | ₹26,132 @ 8.55% |
| 700–749 | ₹27,163 @ 9.00% |
| <700 | ₹29,525 @ 10.25% |
8. Document Checklist
Salaried Applicants
- PAN, Aadhaar, Passport
- Salary slips – last 3 months
- Form 16 – last 2 years
- Bank statement – last 6 months
- Property documents
Self-Employed
- PAN, Aadhaar
- ITR with computation – last 3 years
- Business proof (GST, Shop Act)
- Balance Sheet & P/L
- CA certificate (if applicable)
9. Loan to Value (LTV) Ratio
| Property Cost | Max LTV Allowed |
|---|---|
| Up to ₹30 Lakhs | 90% |
| ₹30–₹75 Lakhs | 80% |
| Above ₹75 Lakhs | 75% |
10. Tax Benefits
Under Section 80C
- Principal repayment up to ₹1.5 lakh/year
Under Section 24B
- Interest deduction up to ₹2 lakh/year
Joint Loans
- Each co-borrower can claim full deduction separately
11. Prepayment and Foreclosure
- Floating Rate Loans: No charges
- Fixed Rate Loans: 2% charges applicable
- Part-Payment: Allowed anytime after 6 months
12. Credit Impact and Management
- Higher CIBIL scores = Lower interest
- Missed EMIs can reduce credit score
- Timely repayment can improve future loan eligibility
13. Comparison with Other Banks (2025 Rates)
| Bank | Min Rate | Women Rate | Processing Fee | Max Tenure |
|---|---|---|---|---|
| Bank of India | 8.30% | 8.25% | Up to ₹20,000 | 30 years |
| SBI | 8.40% | 8.35% | Up to ₹10,000 | 30 years |
| HDFC Ltd | 8.50% | 8.45% | 0.50% of amount | 30 years |
| ICICI Bank | 8.60% | 8.55% | ₹3,000–₹5,000 | 30 years |
| Axis Bank | 8.75% | 8.70% | ₹10,000 max | 30 years |
| PNB | 8.55% | 8.50% | As per loan | 30 years |
Bank Of India Home Loan Interest Rate Calculator
14. FAQs
A. It ranges from 8.30% to 10.50% based on credit score and profile.
A. Yes, women enjoy 0.05% concession.
A. Yes. Higher scores lead to lower interest rates.
A. Up to 0.50% of loan amount (max ₹20,000).
A. Yes, with certain eligibility and documentation.
A. No, for floating rate loans.
A. Yes. It can boost eligibility.
A. Up to 30 years.
A. Up to 60 times monthly salary, depending on liabilities.
A. Yes, but floating rates are more common and lower.
15. Key Features Summary
- Competitive interest rates (starting at 8.30%)
- Special discounts for women
- Transparent charges, no hidden fees
- Large LTV ratio (up to 90%)
- Flexible tenure and repayment
- Digital application options
- CIBIL-based personalized rates
Conclusion: Should You Choose BOI for Home Loan?
If you’re seeking reliability, transparency, and affordability, Bank of India home loans are a strong contender in 2025. With options suited for salaried, self-employed, NRIs, and women, the rates are competitive and the benefits substantial.
This guide serves as a complete reference for Bank of India home loan interest rate and everything that surrounds it — from CIBIL impact to repayment options.