45 Lakh Bank of India Home Loan

Home Loan By Property
Home Loan By Profession
Home Loan By Scheme
Home Loan By Amount

Looking for immediate financial assistance to move closer to purchasing your dream home? Check out the Bank of India 45 lakh home loan, which offers attractive rates and a longer repayment tenure of up to 30 years, making financial management very convenient. Providing loan facilities such as purchase, extension, or renovation of current property or furnishing your current house, Bank of India offers free accidental coverage of up to Rs 5 crores. With interest rates starting from as low as 8.45% per annum, there is no prepayment penalty or any hidden charges. Continue reading to know more about the Bank of India's 45 lakh housing loan and its features and benefits.

Get in Touch for Home Loan Expert Advice

Connect with our Home Loan Advisor Now!

Personalized Home Loan solutions
Expert guidance
Application assistance
Credit score discussion
Home Loan Interest rate comparison

Full Name

+91Mobile No.

Choose City

I agree to the Terms and Conditions of TUCIBIL and hereby provide explicit consent to share my Credit Information with Urban Money Private Limited.

Table of Content

1. 45 Lakh Bank of India Home Loan Key Highlights

2. 45 Lakh Bank of India Home Loan 5 Years EMI

3. 45 Lakh Bank of India Home Loan 10 Years EMI

4. 45 Lakh Bank of India Home Loan 15 Years EMI

5. 45 Lakh Bank of India Home Loan 20 Years EMI

6. 45 Lakh Bank of India Home Loan 25 Years EMI

7. 45 Lakhs Bank of India Home Loan Fees & Charges

8. Documents Required for a 45 Lakh Bank of India Home Loan

9. Eligibility Criteria for a 45 Lakh Bank of India Home Loan

Written By

Satyam Sachdeva

Satyam has always been interested in saving money and realising its worth. He created a Demat account when he turned 18 and has been a keen equity and mutual fund investor. Currently, a writer for Urban Money, he uses his skills to guide his readers in the right direction. Satyam strives to make financial complexities easy for everyone to understand with a pinch of creative salt.

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.

45 Lakh Bank of India Home Loan – Key Highlights

Explore the key highlights and features of the Bank of India 45 lakh home loan by checking the table below:

Feature	Details
Maximum Repayment Tenure	Up to 360 months
Interest Rate (ROI)	Starting from 8.40%, linked with the CIBIL score
EMI Starting Amount	₹755 per lakh
Holiday/Moratorium Period	Up to 36 months
Eligibility	Resident Indian/NRI/PIO, individuals (salaried/self-employed/professionals), non-individuals
Loan Purpose	Purchase of plot, house construction, renovation, extension, furnishing, solar PV purchase
Top-Up Loan & Balance Transfer	Instant top-up loan and takeover/balance transfer facility with additional loan amount

45 Lakh Bank of India Home Loan – 5 Years EMI

The applicable EMI on the 45 lakh Bank of India home loan for 5 years at an interest rate of 10.50% is given below:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 45 lakhs	10.50%	5 years	₹96,723	₹13,03,353	₹58,03,353

45 Lakh Bank of India Home Loan – 10 Years EMI

The table below mentions the EMI applicable to the 45 lakh Bank of India home loan over a 10-year period.

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 45 lakhs	10.50%	10 years	₹60,721	₹27,86,490	₹72,86,490

45 Lakh Bank of India Home Loan – 15 Years EMI

A 15-year tenure and an interest rate of 10.50% per annum will attract the following EMI on the 45 lakh Bank of India home loan:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 45 lakhs	10.50%	15 years	₹49,743	₹44,53,731	₹89,53,731

45 Lakh Bank of India Home Loan – 20 Years EMI

Over a 20-year tenure, the EMI that will be applicable on the 45 lakh Bank of India home loan is mentioned below:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 45 lakhs	10.50%	20 years	₹44,927	₹62,82,503	₹1,07,82,503

45 Lakh Bank of India Home Loan – 25 Years EMI

Check the table below to know the applicable EMI on the 45 lakh Bank of India home loan over 25 years:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 45 lakhs	10.50%	25 years	₹42,488	₹82,46,453	₹1,27,46,453

45 Lakhs Bank of India Home Loan – Fees & Charges

The fees and charges applicable on the 45 lakh Bank of India home loan are given below:

Category	Processing Charges
Individuals	A single payment of 0.25% of the loan amount: Minimum charge of ₹1500, capped at a maximum of ₹20000
Non-Individuals	A single payment of 0.50% of the loan amount: Minimum charge of ₹3000, capped at a maximum of ₹40000

Documents Required for a 45 Lakh Bank of India Home Loan

Keep the following documents ready before availing of a 45 lakh Bank of India home loan:

Identity Verification: PAN Card, Driving License, Voter ID, Passport, Aadhaar Card
Address Verification: Aadhaar Card, Passport, Driving License, Election ID, Utility Bills
Income Proof (Salaried Individuals): Recent salary slips, Latest bank account statement or passbook
Income Proof (Self-Employed Individuals): IT Returns, Profit and Loss Statement, Audited Balance Sheet
Property Documents: Sales Deed, No Objection Certificate (NOC), Sale Agreement, Registration Documents

Eligibility Criteria for a 45 Lakh Bank of India Home Loan

The eligibility criteria for a 45 lakh Bank of India home loan are mentioned in the table below:

Eligibility	Details
Qualified Applicants	Resident Indians, NRIs, and Persons of Indian Origin (PIOs)
Eligible Individuals	Covers salaried workers, self-employed individuals, and professionals
Eligible Non-Individuals	Includes groups, associations, Hindu Undivided Families (HUFs), and companies
Ineligible Entities	Trusts are not eligible for this loan program
Age Criteria	Applicants must be 18 years old and, at most, 70 years by the final repayment date.

Frequently Asked Questions (FAQs)

What is the EMI for a 45 lakh Bank of India home loan over a 20-year tenure?

₹44,927 is the applicable EMI on the 45 lakh Bank of India housing loan over 20 years.

Who is eligible for a 45 lakh Bank of India home loan?

To be eligible for a ₹45 lakh home loan from the Bank of India, you must be a resident Indian, NRI, or PIO, aged between 18 and 70, and meet the bank's income and credit requirements.

What is the monthly interest rate on a 45 lakh Bank of India home loan?

The Bank of India offers a home loan with a minimum interest rate of 8.45% annually, which equates to roughly 0.70% per month.

Quick Links

Loan Offers By Bank Of India's

Home Loan by Nationalized Bank

Home Loan Calculators

Bank Of India Calculators