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3 Crore Bank of India Home Loan
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Do you see living in a lavish, roomy house that serves as more than just a place to call home? The Bank of India’s ₹3 Crore Home Loan might make your dream come true. Imagine spending each morning in your ideal house's luxurious and elegant surroundings. This large loan amount allows you to select the ideal home that fits your goals and way of life. With the Bank of India's affordable interest rates and adaptable repayment plans, owning your ideal house is now more feasible than ever.
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₹3 Crore Home Loan Bank of India – Highlights
Here are Bank of India home loan interest rates for ₹3 Crore, along with highlights:
Feature | Details |
Interest Rate | Starts at 8.40% p.a. |
Maximum Repayment Tenure | 360 months |
EMI | Starts at Rs.755/-per Lakh |
Benefit | No Hidden Charges |
₹3 Crore Home Loan EMI for 5 Years Bank of India
Bank of India housing loan EMI for ₹3 Crore is mentioned below in detail:
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total Amount Payment |
₹3 Crores | 8.50% p.a. | 5 years | ₹6,15,496 | ₹69,29,756 | ₹3,69,29,756 |
₹3 Crore Home Loan EMI for 10 Years Bank of India
Here are the ₹3 Crore home loan EMI for 10 years Bank of India:
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total Amount Payment |
₹3 Crores | 8.50% p.a. | 10 years | ₹3,71,957 | ₹1,46,34,848 | ₹4,46,34,848 |
₹3 Crore Home Loan EMI for 15 Years Bank of India
For an amount of ₹3 Crore, the EMI for 15 years is as follows:
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total Amount Payment |
₹3 Crores | 8.50% p.a. | 15 years | ₹2,95,422 | ₹2,31,75,936 | ₹5,31,75,936 |
₹3 Crore Home Loan EMI for 20 Years Bank of India
₹3 Crore home loan EMI for 20 years Bank of India is as follows:
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total Amount Payment |
₹3 Crores | 8.40% p.a. | 20 years | ₹2,60,347 | ₹3,24,83,273 | ₹6,24,83,273 |
₹3 Crore Home Loan EMI for 25 Years Bank of India
Bank of India home loan of ₹3 Crore EMI for 25 years is as follows:
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total Amount Payment |
₹3 Crores | 8.40% p.a. | 25 years | ₹2,41,568 | ₹4,24,70,438 | ₹7,24,70,438 |
₹3 Crore Bank of India Home Loan – Fees and Charges
Here are the charges for ₹3 Crore Bank of India Home Loan:
Interest Rates
CIBIL Score
Range |
Interest Rate (Per Annum) | Applicable for | Remarks |
825 and above | 8.40% | Salaried and Self-Employed | Lowest rate based on excellent credit score |
800 to 824 | 8.50% | Salaried and Self-Employed | Slightly higher due to a lower credit score |
760 to 799 | 8.70% | Salaried and Self-Employed | Moderate risk category |
725 to 759 | 8.80% | Salaried and Self-Employed | Higher rate for moderate credit risk |
675 to 724 | 9.55% | Salaried and Self-Employed | Higher risk category |
Below 675 | 10.65% – 10.80% | Salaried and Self-Employed | Highest rate due to higher credit risk |
Other Fees and Charges
Fee/Charge
Type |
Amount/Rate | Applicable To | Remarks |
Processing Charges | 0.25% of Loan Amount (Min ₹2,500, Max ₹20,000) | Individuals | Based on the loan amount |
Processing Charges for Firms/Corporates | 0.50% of Loan Amount (Min ₹5,000, Max ₹40,000) | Firms and Corporates | Based on the loan amount |
Builder Tie-Up Project Charges | 0.15% of Loan Amount (Max ₹10,000) | Builder Tie-Up Projects | Special rate for tie-up projects |
Star Diamond Home Loan Fee | Flat ₹50,000 | All Borrowers of Star Diamond Home Loan | Fixed charge irrespective of loan amount |
Prepayment Charges | No Charges | All Borrowers | No penalty for early repayment |
Balance Transfer Charges | Additional BSD of 0.10% (Min Rate 8.40%) | Loan Takeover Applicants | Benefit for transferring existing loan |
Top-Up Loan Charges | 0.50% Premium over existing rate | Existing Home Loan Borrowers | Applies to top-up loans on existing accounts |
Mortgage Fees | ₹5,000 to ₹20,000 + GST | Based on Loan Amount | Varies with loan amount and property value |
Late Payment Charges | 2x to 10x of Applicable Fee | Delayed Filings | Based on the number of days delayed |
Credit Report Access Fee | ₹50 per report | All Borrowers | The charge for accessing a credit report |
CERSAI Registration Fees | As per Government Regulations | All Borrowers | The standard fee for property registration |
Insurance Premium | Included in Project Cost | All Borrowers | Treated as part of the home loan component |
₹3 Crore Bank of India Home Loan – Documents Required
To apply for a ₹3 Crore home loan with the Bank of India, the applicant must provide the following documents:
Document
Category |
Type of Document | Details | Who Needs It? |
Identity Verification | Primary ID Proof | PAN Card, Passport, Driver’s Licence | All Applicants |
Secondary Address Proof | Aadhar Card, Utility Bill (Electricity/Telephone) | All Applicants | |
Income Proof | Salaried Individuals | Last 6 Months Salary Slips, Latest ITR/Form 16 | Salaried Applicants |
Self-Employed Individuals | Last 3 Years ITR, Balance Sheet, Profit & Loss Account | Self-Employed Applicants | |
Property Documentation | Legal Property Papers | Agreement to Sell, Sale Deed, Approved Building Plan | All Property Buyers |
Payment Receipts | Receipts for Payments to Builder/Seller | All Property Buyers | |
Loan-Specific Documents | Existing Loan Details | Loan Account Statement, Foreclosure Letter (if applicable) | Applicants opting for Loan Takeover |
Co-Applicant Documents | KYC and income-proof | Identity and Income Proof of Co-applicants | All Co-Applicants |
Additional Documents | NRI/PIO Applicants | Passport, Visa, Overseas Address Proof, Power of Attorney (if applicable) | NRI/PIO Applicants |
₹3 Crore Bank of India Home Loan – Eligibility Criteria
The following are the criteria for ₹3 Crore home loan eligibility at Bank of India:
For Salaried Individuals
- Age Criteria: Applicants must be at least 18 years old when applying, with a maximum age of 70 at the time of loan repayment.
- Income Criteria:
- Must have a stable employment history with a minimum 2-3 years tenure.
- A regular and sufficient income is necessary to ensure timely repayment.
- The income of close relatives, such as co-applicants, may also be considered when determining loan eligibility.
- Employment Stability:
- Applicants should be employed in a stable and reputable organisation.
- A minimum of 2-3 years of continuous employment in the current job is required.
- Credit Score: A CIBIL score of 675 or above will be enough.
For Self Employed
- Age Requirement: The applicant must be at least 18 years old when applying, with a maximum age of 70 at the time of the final loan repayment.
- Income Criteria:
- The business should have been operating continuously for at least 3 years.
- Income must be stable and sufficient, verified through financial documents like the Profit & Loss Account and Balance Sheet.
- Business Continuity: Applicants should have at least 3 years of continuous operation in their current business or profession.
- Credit Score: A CIBIL score of 675 or above is the requirement.
For NRIs/POIs
- Age Requirement: Applicants should be at least 18 years old at the time of application, and the maximum age for loan repayment is 70 years.
- Income Criteria:
- Must have stable employment or a continuous business overseas.
- A valid work permit or business license is necessary.
- The applicant should have sufficient and regular income to meet repayment obligations.
Frequently Asked Questions (FAQs)
What is the EMI for a ₹3 Crore Home Loan for 20 years in the Bank of India?
Taking an 8.50% interest rate, the EMI for a ₹3 Crore Home Loan for 20 years in the Bank of India will be ₹2,60,347.
Who is eligible for a ₹3 Crore Home Loan in the Bank of India?
Individuals with stable income, good credit scores, and eligible property, including resident Indians, NRIs, and PIOs, can apply.
What is the monthly interest rate of a ₹3 Crore home loan in the Bank of India?
The monthly interest rate is approximately 0.70% to 0.89%, depending on the applicant's credit score and loan terms.
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