85 Lakh Bank of India Home Loan

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

The Bank of India's 85 lakh home loan is recognised as a stress-free credit option. The borrowers can ideally apply for the loan online, eliminating the need to visit bank branches and physical documentation. The bank also offers competitive interest rates, flexible repayment options, moderate eligibility, minimal documentation, and fast processing. Nevertheless, understanding your repayment capacity is vital, especially regarding such a significant financial commitment as 85 lakh. This all-in-one blog will explain the 85 lakh home loan EMI from the Bank of India with varying tenures of 5, 10, 15, 20, and 25 years. Moreover, we cover details such as the Bank of India’s home loan interest rate of 85 lakh, pertinent eligibility criteria, required documents, and other associated fees. Keep scrolling down to learn more.

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. 85 Lakh Home Loan Bank of India Highlights

2. 85 Lakh Home Loan EMI for 5 Years Bank of India

3. 85 Lakh Home Loan EMI for 10 Years Bank of India

4. 85 Lakh Home Loan EMI for 15 Years Bank of India

5. 85 Lakh Home Loan EMI for 20 Years Bank of India

6. 85 Lakh Home Loan EMI for 25 Years Bank of India

7. 85 Lakh Bank of India Home Loan Fees and Charges

8. 85 Lakh Bank of India Home Loan Documents Required

9. 85 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.

85 Lakh Home Loan Bank of India – Highlights

Have a close look at the Bank of India’s home loan interest rate for 85 lakhs and other key parameters:

Interest Rates	8.35% – 9.50% per annum
Loan Amount	75% – 95% of the property price
Loan Tenure	30 years or age of 70, whichever comes earlier
Eligibility	Salaried/Self-employed/Professionals

85 Lakh Home Loan EMI for 5 Years Bank of India

Following is the 85 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
₹85 Lakhs	8.35% p.a.	5 years	₹1,73,777	₹19,26,620	₹1,04,26,620

85 Lakh Home Loan EMI for 10 Years Bank of India

Here is the 85 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
₹85 Lakhs	8.35% p.a.	10 years	₹1,04,707	₹40,64,840	₹1,25,64,840

85 Lakh Home Loan EMI for 15 Years Bank of India

Here is the Bank of India home loan 85 lakh EMI amount for a tenure of 15 years:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹85 Lakhs	8.35% p.a.	15 years	₹82,957	₹64,32,260	₹1,49,32,260

85 Lakh Home Loan EMI for 20 Years Bank of India

Let’s examine the 85 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
₹85 Lakhs	8.35% p.a.	20 years	₹72,960	₹90,10,400	₹1,75,10,400

85 Lakh Home Loan EMI for 25 Years Bank of India

Have a look at the 85 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
₹85 Lakhs	8.35% p.a.	25 years	₹67,587	₹1,17,76,100	₹2,02,76,100

85 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’s home loan interest rate of 85 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

85 Lakh Bank of India Home Loan – Documents Required

Following is the applicable documentation for the Bank of India’s 85 lakhs home loan:

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

85 Lakh Bank of India Home Loan – Eligibility Criteria

Here are the 85 lakhs home loan eligibility in Bank of India:

Age	Applicants should be aged between 18 and 70 years old.
Income	Applicants should have sufficient income to manage loan EMIs.
Credit Score:	Applicants should have a good credit score, usually 750 or above.
Employment Status:	Applicants should be salaried, self-employed, or professionals.
Nationality	Applicants should be Indian citizens, including NRIs and PIOs.

Frequently Asked Questions (FAQs)

What is the EMI for an 85 lakh home loan for 20 years in the Bank of India?

For a ₹85 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 ₹72,960.

Who is eligible for an 85 lakh home loan in the Bank of India?

Both salaried and self-employed individuals are eligible for an 85 lakh home loan at the Bank of India.

What is the monthly interest rate of an 85 lakh home loan in Bank of India?

The monthly interest rate for an 85 lakh home loan in the Bank of India starts at 0.70%.

Quick Links

Loan Offers By Bank Of India's

Home Loan by Nationalized Bank

Home Loan Calculators

Bank Of India Calculators