25 Lakh Bank of India Home Loan

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The Bank of India Home Loan for 25 Lakh is a perfect financing option for eligible applicants looking for an affordable housing loan. To enable this, Urban Money is here to assist you in realising your dream of owning a home by guiding you through the most cost-effective home loans. Enjoy benefits like flexible repayment options, minimal documentation, an extended holiday period, and balance transfer facilities by applying for the 25 Lakh Home Loan from the Bank of India, along with low interest rates starting from 8.40%. Purchasing a home/ construction unit has never been easier with such a quick application process and speedy cash disbursement. Find out if you are eligible, along with the EMI estimates for different tenures, in the blog below.

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Table of Content

1. 25 Lakh Home Loan Bank of India- Highlights

2. 25 Lakh Bank of India Home Loan 5 Years EMI

3. 25 Lakh Bank of India Home Loan 10 Years EMI

4. 25 Lakh Bank of India Home Loan 15 Years EMI

5. 25 Lakh Bank of India Home Loan 20 Years EMI

6. 25 Lakh Bank of India Home Loan 25 Years EMI

7. Fees & Charges of 25 Lakh Bank of India Home Loan

8. Documents Required For a Bank of India 25 Lakh Home Loan

9. 25 Lakh Bank of India Home Loan Eligibility Criteria

Written By

Bhavya Kamra

With a background in commerce and a strong affinity for numbers, Bhavya is dedicated to delivering accurate financial insights in her blog. She avidly reads finance magazines and articles to stay updated on the latest market trends. Currently crafting content for Urban Money, Bhavya aims to offer practical financial tips and simplify complex subjects into easy-to-understand steps.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

25 Lakh Home Loan Bank of India- Highlights

The following highlights will help you get insight into the various features of a 25 Lakh Home Loan from the Bank of India, helping you compare the same with other financial institutions:

Metric	Details
Loan Meant for	Purchasing Renovating Extension of the property, Furnishing the home Buying a construction unit
Interest Rates	Starts from 8.40%
Processing Fee	0.25% of the total amount (Varying between INR 2,500 and INR 20,000)
Loan Tenure and Holiday Period	Upto 360 months for loan repayment of Holiday period of 3 months
Eligibility	Indian Residents/NRIs aged over 18 and under 70 years at the time of repayment or registered companies/groups.

25 Lakh Bank of India Home Loan – 5 Years EMI

The table below shows the EMI and interest payable for a ₹25 lakh Bank of India home loan over a 10-year tenure.

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 25 lakhs	8.40%	5 years	₹51,171	₹5,70,260	₹30,70,260

25 Lakh Bank of India Home Loan – 10 Years EMI

If you plan on paying off your ₹25 lakh Bank of India home loan within 10 years, this is your EMI payment and interest payable.

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 25 lakhs	8.40%	10 years	₹30,863	₹12,03,560	₹37,03,560

25 Lakh Bank of India Home Loan – 15 Years EMI

The EMI amount and interest payable for a ₹25 lakh Bank of India home loan is as follows if you want to repay it within 15 years:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 25 lakhs	8.40%	15 years	₹24,472	₹19,04,960	₹44,04,960

25 Lakh Bank of India Home Loan – 20 Years EMI

Over a 10-year tenure, the ₹25 lakh Bank of India home loan will attract the following EMI and interest:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 25 lakhs	8.40%	20 years	₹21,538	₹26,69,120	₹51,69,120

25 Lakh Bank of India Home Loan – 25 Years EMI

You will be liable to pay the following EMI instalments and interest for a 25 lakh Bank of India home loan over a 25-year tenure.

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 25 lakhs	8.40%	25 years	₹19,962	₹34,88,600	₹59,88,600

Fees & Charges of 25 Lakh Bank of India Home Loan

Other than charging an annual interest rate on a daily reducing balance, the following charges are applicable on a 25 lakh Bank of India home loan:

PPC for Individuals: 0.25% of the loan amount, with a minimum being INR 1500 and a maximum being INR 20,000
PPC for companies: 0.50% of the total loan amount, minimum- INR 3000 and maximum- INR 40,000
PPC for builders: 0.15% of the loan amount, Maximum cap of INR 10,000
Home Loan Takeover BSD Charge: 0.10%
Premium Charge for loans over 2 Crore: 0.25%

Documents Required For a Bank of India 25 Lakh Home Loan

The Bank will require the following documents to approve an applicant’s request for a Home Loan of 25 Lakh from the Bank of India.

Category	Proof of Identity	Proof of Address	Proof of Income
Individuals	PAN/Passport/ Driver Licence/Voter ID	Passport/Driver Licence/Aadhar Card/Latest Electricity Bill/Latest Telephone Bill/Latest Piped Gas Bill	Salaried: Latest 6 Month Salary/Pay Slip and One-year ITR/Form 16 Self-employed: Last 3 years ITR with Computation of Income/Profit & Loss Account/Balance Sheet/Capital Account Statement
Other than Individuals	KYC of Partners/Directors	N/A	PAN Card copy of Company/Firm Regd. Partnership Deed/MOA/AOA Certificate of Incorporation as applicable Account statement for last 12 months The firm’s Audited Financials for the last 3 years

25 Lakh Bank of India Home Loan – Eligibility Criteria

Any resident of India with Indian citizenship (NRI or PIO) can apply for the 25 Lakh Bank of India Home Loan. They can be salaried employees employed in any industry or even professionals, with the minimum age being 18 and the maximum being 70 years. While groups or Corporations are eligible for this loan, trusts cannot apply for it.

Frequently Asked Questions (FAQs)

What is the EMI for a 25 lakh Bank of India home loan over a 20-year tenure?

The EMI for a 25 lakh Bank of India home loan over a 20-year tenure is ₹21,538.

Who is eligible for a 25 lakh Bank of India home loan?

Any resident of India, NRI, corporation or group is eligible for a 25 lakh Bank of India home loan.

What is the monthly interest rate on a 25 lakh Bank of India home loan?

The monthly interest rate for a 25 lakh Bank of India home loan starts at 8.40% p.a. and increases according to the applicant's CIBIL score.

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