65 Lakh Bank of India Home Loan

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Acquiring the keys to your dream home is very easy with the Bank of India 65 lakh home loan. With interest rates starting from 8.45% per annum, the Bank of India also offers a fast home loan approval process and a moratorium period of up to 36 months. The loan process is transparent, signifying no hidden charges and zero prepayment penalty. The Bank of India also offers accidental insurance coverage of up to 5 crores, making it more attractive for the home loan applicant. Continue reading to explore more about the 65 lakh Bank of India home loan and begin your journey towards your dream home without any delay!

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Table of Content

1. Bank of India 65 Lakh Home Loan Highlights

2. Bank of India 65 Lakh Home Loan 5 Years EMI

3. Bank of India 65 Lakh Home Loan 10 Years EMI

4. Bank of India 65 Lakh Home Loan 15 Years EMI

5. Bank of India 65 Lakh Home Loan 20 Years EMI

6. Bank of India 65 Lakh Home Loan 25 Years EMI

7. 65 Lakh Bank of India Housing Loan Fees & Charges

8. Documents Required for a 65 Lakh Bank of India Housing Loan

9. 65 Lakh Bank of India Home Loan Eligibility Criteria

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.

Bank of India 65 Lakh Home Loan – Highlights

Refer to the table below to check the 65 lakh Bank of India home loan scheme key highlights:

Key Feature	Details
Loan Tenure	Up to 30 years (360 months)
Moratorium Period	Can delay payments for up to 3 years (36 months)
Starting EMI	As low as Rs. 755 per lakh
Eligibility Enhancement	You can include a close relative’s income to qualify
Plot Purchase Option	Loan available, with a requirement to build within 5 years
Home Improvement Loan	Available for renovating or extending your home
Balance Transfer & Extra Loan	Transfer your existing loan and borrow more if needed
Quick Top-Up Loan	Get an extra loan instantly
Free Insurance Coverage	Includes accidental insurance up to Rs. 5 Crores
Interest Rate	Starts at 8.45%, based on your credit score

Bank of India 65 Lakh Home Loan – 5 Years EMI

The table below shows the calculated EMI for a 65 lakh Bank of India home loan if availed at an interest rate of 10.40% per annum for a tenure of 5 years:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 65 lakhs	10.40% p.a.	5 years	₹1,39,389	₹18,63,314	₹83,63,314

Bank of India 65 Lakh Home Loan – 10 Years EMI

Below is the EMI calculation for a ₹65 lakh Bank of India home loan at a 10.40% interest rate for 10 years.

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 65 lakhs	10.40% p.a.	10 years	₹87,344	₹39,81,303	₹1,04,81,303

Bank of India 65 Lakh Home Loan – 15 Years EMI

Here is the EMI for a ₹65 lakh home loan from the Bank of India, calculated with a 10.40% annual interest rate over 15 years.

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 65 lakhs	10.40% p.a.	15 years	₹71,448	₹63,60,728	₹1,28,60,728

Bank of India 65 Lakh Home Loan – 20 Years EMI

The table below provides the EMI for a ₹65 lakh home loan from the Bank of India at an interest rate of 10.40% per year for 20 years.

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 65 lakhs	10.40% p.a.	20 years	₹64,459	₹89,70,078	₹1,54,70,078

Bank of India 65 Lakh Home Loan – 25 Years EMI

Here is the EMI for a ₹65 lakh Bank of India home loan, calculated with a 10.40% interest rate for 25 years.

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 65 lakhs	10.40% p.a.	25 years	₹60,908	₹1,17,72,448	₹1,82,72,448

65 Lakh Bank of India Housing Loan – Fees & Charges

The applicable fees and charges of a 65 lakh Bank of India housing loan are given below:

Processing Fee for Individuals:

A one-time fee of 0.25% of the loan amount.
Minimum fee: Rs. 1,500.
Maximum fee: Rs. 20,000.

Processing Fee for Non-Individuals (like companies or groups):

A one-time fee of 0.50% of the loan amount.
Minimum fee: Rs. 3,000.
Maximum fee: Rs. 40,000.

Documents Required for a 65 Lakh Bank of India Housing Loan

Keep the following documents ready if you wish to avail of a 65 lakh Bank of India housing loan:

Document Type	Required Documents
Proof of Identity	PAN Card, Passport, Driver’s License, or Voter ID
Proof of Address	Aadhaar Card, Passport, Driver’s License, Latest Electricity Bill, Latest Telephone Bill, or Latest Piped Gas Bill
Proof of Income (Salaried)	Last 6 months’ Salary Slips and 1 year of Income Tax Returns (ITR) or Form 16
Proof of Income (Self-Employed)	Last 3 years’ Income Tax Returns (ITR) with Profit & Loss Statement, Balance Sheet, and Capital Account Statement
For Companies/Firms	KYC of Partners/Directors, PAN Card of Company/Firm, Registered Partnership Deed/Memorandum of Association (MOA)/Articles of Association (AOA), Certificate of Incorporation, and last 12 months’ Bank Account Statement
Firm’s Financials	Audited Financials for the last 3 years

65 Lakh Bank of India Home Loan – Eligibility Criteria

Refer to the point below to check the eligibility criteria for a 65 lakh Bank of India home loan:

Who can apply: Indian citizens, NRIs (Non-Resident Indians), and PIOs (People of Indian Origin) can apply.
For individuals: Salaried employees, self-employed people, and professionals can apply.
For groups: Groups of people, associations, HUFs (Hindu Undivided Families), and companies can apply.
Trusts cannot apply: Trusts cannot apply for this loan.
Age limit: When you finish repaying the loan, you must be at least 18 and not older than 70.

Frequently Asked Questions (FAQs)

What is the EMI on a 65 lakh Bank of India home loan over 20 years?

₹64,459 will have to be paid monthly as the EMI of a 65 lakh Bank of India home loan if it is taken out for 20 years.

Who is eligible for a 65 lakh Bank of India home loan?

To get a ₹65 lakh home loan from the Bank of India, you must be a salaried employee, self-employed, or an NRI and meet the bank's income and credit rules.

What is the monthly interest rate on a 65 lakh Bank of India home loan?

The monthly interest rate offered to home loan applicants depends on the individual's credit score. The minimum monthly interest rate for a 65 lakh Bank of India home loan is approximately 0.70%.

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