15 Lakh Bank of India Home Loan

₹15 lakh Home Loan Bank of India – Highlights

Here are Bank of India home loan interest rates for ₹15 lakh, along with highlights:

Feature	Details
Interest Rate	Starts from 8.40%
Eligibility	Available for salaried/professionals/self-employed
EMI	Starting with Rs.755/-per Lakh
Types of Home Loans	Star Home Loan and Star Pravasi Home Loan

₹15 Lakh Home Loan EMI for 5 years Bank of India 

Bank of India housing loan EMI for ₹15 lakh is mentioned below in detail:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total Amount Payment
₹15 lakh	8.40% p.a.	5 years	₹ 30,703	₹ 3,42,153	₹ 18,42,153

₹15 Lakh Home Loan EMI for 10 Years Bank of India 

Here are the ₹15 lakh home loan EMI for 10 years Bank of India:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total Amount Payment
₹15 lakh	8.40% p.a.	10 years	₹18,518	₹7,22,127	₹22,22,127

₹15 Lakh Home Loan EMI for 15 Years Bank of India

For an amount of ₹15 lakh, the EMI for 15 years is as follows:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total Amount Payment
₹15 lakh	8.40% p.a.	15 years	₹14,683	₹11,42,994	₹26,42,994

₹15 Lakh Home Loan EMI for 20 Years Bank of India

₹15 lakh home loan EMI for 20 years Bank of India are as follows:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total Amount Payment
₹15 lakh	8.40% p.a.	20 years	₹12,923	₹16,01,416	₹31,01,416

₹15 Lakh Home Loan EMI for 25 Years Bank of India 

Bank of India home loan of ₹15 lakh EMI for 25 years is as follows:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total Amount Payment
₹15 lakh	8.40% p.a.	25 years	₹11,977	₹20,93,247	₹35,93,247

₹15 Lakh Bank of India Home Loan – Fees and Charges 

Here are the charges for ₹15 Lakh Bank of India Home Loan:

Fee/Charge Type	Details	Amount
Processing Charges	For Individuals:	0.25% of the loan amount
	Minimum Amount	Rs. 2500/-
	Maximum Amount	Rs. 20,000/-
	For Firms & Corporates:	0.50% of the loan amount
	Minimum Amount	Rs. 5000/-
	Maximum Amount	Rs. 40,000/-
	For Builder Tie-Up Projects:	0.15% of the loan amount
	Maximum Amount	Rs. 10,000/-
	Star Diamond Home Loan:	Fixed Amount
	Irrespective of Loan Amount	Rs. 50,000/-
Prepayment Charges	For all borrowers:	Nil
Rate of Interest (ROI)	Linked to CIBIL Score:	Based on CIBIL-Personal Score (Details in ROI section)
	For CIBIL Score 825 and above	8.40%
	For CIBIL Score 800 to 824	8.50%
	For CIBIL Score 760 to 799	8.70%
	For CIBIL Score 725 to 759	8.80%
	For CIBIL Score 675 to 724	9.55%
	For CIBIL Score below 675 (Salaried)	10.65%
	For CIBIL Score below 675 (Non-Salaried)	10.80%
Balance Transfer Charges	Home Loan Takeover (additional BSD of 0.10%)	Minimum ROI of 8.40%
Top-Up Loan Charges	Applicable in respective Home Loan account	Premium of 0.50%

₹15 Lakh Bank of India Home Loan – Documents Required

To apply for a ₹15 lakh home loan with the Bank of India, the applicant must provide the following documents:

For Individuals

Proof of Identity (Any of the following):

PAN Card

Passport

Driver’s Licence

Voter ID

Proof of Address (Any of the following):

Passport	Driver’s Licence
Aadhar Card	Latest Electricity Bill
Latest Telephone Bill	Latest Piped Gas Bill

Proof of Income:

For Salaried Individuals:	Latest 6 Months Salary/Pay Slip One Year Income Tax Return (ITR) or Form 16
For Self-Employed Individuals:	Last 3 Years Income Tax Returns (ITR) with Computation of Income Profit & Loss Account Balance Sheet Capital Account Statement

For Non-Individuals (Firms, Corporates, etc.):

KYC Documents for Partners/Directors:

PAN Card

Passport

Aadhar Card

Company/Firm Documents:

PAN Card copy of the Company/Firm	Registered Partnership Deed (for Partnership Firms)
Memorandum of Association (MOA) & Articles of Association (AOA) (for Companies)	Certificate of Incorporation (as applicable)

Financial Documents:

Account Statement for the last 12 months

The firm’s financials for the previous 3 years

Additional Documents

Property Documents:

Agreement to Sell	Sale Deed
Copy of Approved Building Plan	Receipts of Payments made to Builder/Seller
Title Deed/Conveyance Deed

Other Documents:

Application Form duly filled and signed	Passport-size Photographs (Applicant and Co-applicant)
Cheque for Processing Fee	Employment Continuity Proof (for Salaried Individuals)
Business Continuity Proof (for Self-Employed Individuals)	Latest Form 26AS

₹15 Lakh Bank of India Home Loan – Eligibility Criteria

The following are the criteria for  ₹15 lakh home loan eligibility at Bank of India:

Age Criteria:

Minimum Age:	The applicant must be at least 18 years old at the time of loan application.
Maximum Age:	70 years at the time of final loan repayment

Income Criteria:

For Salaried Individuals:	Stable employment with a minimum tenure of 2-3 years. Regular and sufficient income to ensure timely repayment. The income of co-applicant(s), such as close relatives, can be considered for loan eligibility.
For Self-Employed Individuals:	Minimum business continuity of 3 years. Stable and sufficient income, verified through financial statements (Profit & Loss Account, Balance Sheet).
For NRIs/PIOs:	Stable employment or business continuity overseas. Valid work permit or business license. Sufficient and regular income to meet the repayment obligations.

Employment:

For Salaried Individuals:	Employment in a stable and reputable organisation. Minimum of 2-3 years of continuous employment in the current job.
For Self-Employed Individuals:	The applicant must have completed at least 3 years of continuous operation in the current business/profession.

• Credit Score: A CIBIL-Personal Score of 675 and above is typically required.