2 Crore Bank of India Home Loan

Are you searching for your dream home but need more funds to make it a reality? Urban Money is here to guide you to one of the best financial tools in the market- the 2 Crore Home Loan from Bank of India. This loan has an extremely easy and quick application process, requiring minimal documentation and offering flexible repayment options. The Bank of India’s 2 Crore Home Loan includes benefits like speedy cash disbursement, extendable holiday period and balance transfer facilities. With a good credit score, you can enjoy a low interest rate of 8.40% and choose any loan payment tenure. The following guide will mention the benefits of this loan, along with the various EMI estimates over different repayment tenures.

2 Crore Home Loan Bank of India- Highlights

Here are some of the essential features of a 2 Crore Home Loan from Bank of India, which will help you compare the facilities of this loan from other financial institutions:

2 Crore Home Loan EMI for 5 Years from the Bank of India

Here is the official EMI estimate for a 2 Crore Home Loan from the Bank of India at an interest rate of 8.40%, which you can repay within five years.

2 Crore Home Loan EMI for 10 Years from the Bank of India

If you plan to pay off your 2 Crore Home Loan from the Bank of India within ten years, here is the total interest payable and the EMI cost.

2 Crore Home Loan EMI for 15 Years from the Bank of India

At an interest rate of 8.40%, the total EMI and interest for a 2 Crore Home Loan from the Bank of India within 15 years is:

2 Crore Home Loan EMI for 20 Years from the Bank of India

The EMI and interest payable for a 2 Crore Home Loan from Bank of India within 20 years is as follows:

2 Crore Home Loan EMI for 25 Years from the Bank of India

In case you are planning to pay off your 2 Crore Bank of India Home Loan within 25 years, here is the official EMI detail and interest payable:

2 Crore Bank of India Home Loan – Fees and Charges

The fee and charge for a 2 Crore Bank of India Home Loan for various entities is as follows:

• Individuals: 0.25% of the total loan amount (Minimum- INR 2500 and Maximum- INR 20,000). 
• Firms and Corporates: 0.50% of the loan amount (Minimum: INR 5000, maximum: INR 40,000).
• Builders:  0.15% of the total loan amount (Maximum- INR 10,000)

The interest rate for the loan is:

Documents Required for a Bank of India 2 Crore Home Loan

The documents required for applying for a 2 Crore Home Loan from the Bank of India are:

For Individuals

• Identity Proof: PAN, Passport, Driver’s License, or Voter ID
• Address Proof: Aadhar Card, Electricity Bill, Piped Gas Bill, or Telephone Bill
• Income Proof: Last six months’ salary slips, one-year ofsixITR/Form 16, Profit andoneLoss Account for the past three years, and Capital Account Statement

For Others

• KYC Documents: Partners/Directors’ KYC documentation
• Company/Firm PAN Card Copy
• Legal Documents: Registered Partnership Deed, Memorandum of Association (MOA), Articles of Association (AOA)
• Certificate of Incorporation (if applicable)
• Bank Statements: Last 12 months of bank account statements
• Financial Statements: Audited financial statements of the firm for the past three years

2 Crore Bank of India Home Loan – Eligibility Criteria

The conditions for eligibility for a 2 Crore Bank of India Home Loan are:

• Must be NRIs/ PIOs or Indian Residents 
• Companies, HUFs, Groups/ Associations of Individuals can also take this loan 
• Must be over the age of 18 and below 70 years at the time of final repayment 
• Should be either Salaried Professionals or self-employed individuals