50 Lakh Bank of India Home Loan

Urban Money is here to help you fulfil your dream of owning a home by guiding you to the most affordable home loans from leading banks and financial institutions. Check out the ₹50 Lakh Home Loan options from the Bank of India at the lowest interest rates, starting at just 8.40%, and a minimal processing fee of 0.25% of the loan amount. Enjoy features like flexible repayment plans, minimal paperwork, extended holiday periods, balance transfer facilities, and low EMI payments. Discover even more details about the Bank of India ₹50 Lakh Home Loan in the blog below, such as eligibility criteria and an estimate for the EMI amount payable in different loan tenures.

50 Lakh Home Loan Bank of India- Highlights

You can use the below-mentioned insights to compare the various features and details of the Bank of India ₹50 Lakh Home Loan with other financial institutions:

50 Lakh Home Loan EMI For 5 Years from the Bank of India

If you plan to pay off your Bank of India ₹50 Lakh Home Loan within 5 years, this will be the total interest payable and EMI amount at the interest rate of 8.40%.

50 Lakh Home Loan EMI For 10 Years from the Bank of India

This table gives the EMI estimate for a Bank of India ₹50 Lakh Home Loan at an interest rate of 8.40% over a loan tenure of 10 years.

50 Lakh Home Loan EMI For 15 Years from the Bank of India

Here are the estimated details about the EMI amount and total interest payable for a ₹50 Lakh Home Loan from the Bank of India for a 15-year loan tenure.

50 Lakh Home Loan EMI For 20 Years from the Bank of India

The EMI and total interest payable for an ₹50 Lakh Home Loan over 20 years from the Bank of India are as follows:

50 Lakh Home Loan EMI For 25 Years from the Bank of India

The EMI payable for a 50 Lakh Bank of India home loan, along with the total interest payable over 25 years, is as follows:

50 Lakh Bank of India Home Loan – Fees and Charges

The following charges are applicable on a 50 Lakh Bank of India home loan, depending on the lender:

Documents Required For a Bank of India 50 Lakh Home Loan

The following documents will help the bank officials verify your identity and the ability to repay the 50 Lakh Bank of India Home Loan on time:

For Individuals 

• Proof of Identity: PAN/ Passport/ Driver License/ Voter ID 
• Proof of Address: Aadhar Card/ Electricity Bill/ Piped Gas Bill/ Telephone Bill 
• Proof of Income: 6-month salary slip, 1-year ITR/ Form 16, Last three years Profit and Loss Account, Capital Account Statement 

For Others

• KYC documents of Partners/Directors
• PAN Card copy of the Company/Firm
• Registered Partnership Deed/MOA/AOA
• Certificate of Incorporation, if applicable
• Bank account statements for the last 12 months
• The firm’s audited financial statements for the past 3 years

50 Lakh Bank of India Home Loan – Eligibility Criteria

The following individuals are eligible for a 50 Lakh Bank of India home loan and can easily obtain the loan after proving that they fulfil all the categories: