70 Lakh Bank of India Home Loan

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Interest rates for home loans have always been changing. As you wait for the right time to get a good deal, you may miss the best opportunity. However, the Bank of India offers a home loan with interest rates ranging from 8.35% to 9.50% per annum, which is among the best in the market. Moreover, the bank ensures eligible applicants can expect lower processing fees, personalised repayment plans, streamlined application princess, and quick fund disbursement, making it a more borrower-friendly credit option. For more information, keep scrolling down. Hereunder, we present a complete overview of the Bank of India 70 lakh home loan. This may include the expected 70 lakh home loan EMI from the Bank of India, pertinent interest rates, eligibility, documentation, and associated fees. Let’s dive in.

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Table of Content

1. 70 Lakh Home Loan Bank of India Highlights

2. 70 Lakh Home Loan EMI for 5 Years Bank of India

3. 70 Lakh Home Loan EMI for 10 Years Bank of India

4. 70 Lakh Home Loan EMI for 15 Years Bank of India

5. 70 Lakh Home Loan EMI for 20 Years Bank of India

6. 70 Lakh Home Loan EMI for 25 Years Bank of India

7. 70 Lakh Bank of India Home Loan Fees and Charges

8. 70 Lakh Bank of India Home Loan Documents Required

9. 70 Lakh Bank of India Home Loan Eligibility Criteria

Written By

Hepson Franklin

Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.

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.

70 Lakh Home Loan Bank of India – Highlights

Have a close look at the Bank of India home loan interest rate for 70 lakhs and other key parameters:

Interest Rates	8.35% p.a. onwards
Loan Amount	75% – 95% of the property value
Loan Tenure	30 years
Eligibility	Both salaried and Self-employed individuals

70 Lakh Home Loan EMI for 5 Years Bank of India

Following is the 70 lakh home loan EMI in Bank of India with a tenure of 5 years:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹70 Lakh	8.35% p.a.	5 years	₹1,43,110	₹15,86,600	₹85,86,600

70 Lakh Home Loan EMI for 10 Years Bank of India

Here is the 70 lakh home loan EMI for 10 years from the Bank of India:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹70 Lakh	8.35% p.a.	10 years	₹86,229	₹33,47,480	₹1,03,47,480

70 Lakh Home Loan EMI for 15 Years Bank of India

Here is the Bank of India home loan 70 lakh EMI amount for a tenure of 15 years:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹70 Lakh	8.35% p.a.	15 years	₹68,318	₹52,97,240	₹1,22,97,240

70 Lakh Home Loan EMI for 20 Years Bank of India

Let’s examine the 70 lakh home loan EMI for 20 years from the Bank of India:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹70 Lakh	8.35% p.a.	20 years	₹60,085	₹74,20,400	₹1,44,20,400

70 Lakh Home Loan EMI for 25 Years Bank of India

Have a look at the 70 lakh home loan EMI in the Bank of India with a tenure of 25 years:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹70 Lakh	8.35% p.a.	25 years	₹55,660	₹96,98,000	₹1,66,98,000

70 Lakh Bank of India Home Loan – Fees and Charges

Have a close look at the fees and charges you must know beyond the Bank of India home loan interest rate of 70 lakh:

Fee/Charge	Amount
Processing Fee	0.25% of the loan amount
Foreclosure Charges	0.65% – 2.25% of the repayment amount
Late Payment charges	N/A
Stamp Duty & Other Statutory Charges	As per the state law

70 Lakh Bank of India Home Loan – Documents Required

Following is the applicable documentation for the Bank of India 70 lakh home loan:

Identity Proof	Aadhar card, PAN card, Voter ID, Driving Licence, or Passport.
Address Proof	Utility bills, Aadhar card, Passport, or Driving Licence.
Salary Proof	Latest 6-month salary slip or 1-year ITR/Form16.
Business Proof	Last 3-year ITR, profit & loss account, balance sheet, and capital account statement. (Applicable to non-salaried individuals)

70 Lakh Bank of India Home Loan – Eligibility Criteria

Here are the 70 lakh home loan eligibility in Bank of India:

Age Limit	You must be aged between 18 and 70 years old.
Income criteria	You must have sufficient income to cover the loan repayment.
Credit Score	You must have a strong credit score, preferably 700 or above.
Employment Status	You must be either a salaried or self-employed individual.
Residential Status	You must be an Indian resident, a Non-Resident Indian (NRI), or a Person of Indian Origin (PIO).

Frequently Asked Questions (FAQs)

What is the EMI for a 70 lakh home loan for 20 years in the Bank of India?

For a ₹70 lakh home loan from the Bank of India with a 20-year tenure and an 8.35% annual interest rate, the estimated monthly EMI is ₹60,085.

Who is eligible for a 70 lakh home loan in the Bank of India?

Both salaried and self-employed individuals are eligible for a 70 lakh home loan at the Bank of India.

What is the monthly interest rate of a 70 lakh home loan in Bank of India?

The monthly interest rate for a 70 lakh home loan in Bank of India starts at 0.70%.

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