Bank of India Star Pravasi Home Loan Scheme

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The BOI Star Pravasi Home Loan offers financial assistance for all your housing requirements. Whether purchasing a newly built home or planning to construct one from scratch, booking a plot for construction or revamping an existing house, Bank of India’s easy home loan takes care of everything without any hassle. Today, we take a comprehensive look at this feature-loaded loan. Keep reading to find out the BOI star home loan interest rate, available loan amounts, eligibility and much more.

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Table of Content

1. Bank of India Star Pravasi Home Loan- Highlights

2. Bank of India Star Pravasi Home Loan Features and Benefits

3. Bank of India Star Pravasi Home Loan Interest Rates

4. Bank of India Star Pravasi Home Loan Fees and Charges

5. Bank of India Star Pravasi Home Loan- Eligibility Criteria

6. Bank of India Star Pravasi Home Loan Documents Required

Read more
Written By
Amrita Sinha
Amrita Sinha
Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.
Reviewed By
Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Bank of India Star Pravasi Home Loan- Highlights

Here is a quick overview of BOI Star Pravasi Home Loan:

Loan Category Home Loans
Loan Amounts Up to 90% of the property’s value
Maximum Loan Tenure 30 years
Interest Rate 8.30%-9.65% p.a.
Security  Mortgage of the concerned property

Bank of India Star Pravasi Home Loan – Features and Benefits

Take a look at some of the prominent advantages offered by the Bank of India Star Pravasi home loan.

  • Digital Applications
  • Overdraft Facility
  • Moratorium Period Up to 36 months
  • Balance Transfer Facility
  • Instant Top-Ups
  • Step Up/ Step Down EMIs

Bank of India Star Pravasi Home Loan Interest Rates

BOI Star home loan interest rate ranges from 8.30%- 9.65% p.a. Interest rates are heavily influenced by an applicant’s credit score. The higher the score, the lower the interest rate. Further, BOI calculates interest using a reducing balances method, implying that the interest charges are only payable on the outstanding loan amount. This results in overall higher savings and lower interest outflows. 

Bank of India Star Pravasi Home Loan Fees and Charges

Apart from the BOI Star home loan interest rate, certain additional fees and charges are also payable on the loan. These include processing fees, stamp duty charges, document verification charges and others. As of now, the Bank of India charges zero processing fee on this loan.

Bank of India Star Pravasi Home Loan- Eligibility Criteria

The Bank of India Star Pravasi home loan scheme eligibility is based on the following criteria:

  • Eligible Candidates: Salaried/ Self-Employed individuals
  • Minimum Age: 18 years at the time of application
  • Maximum Age: 70 years at the time of final settlement
  • Residential Status: Indian residents/ Non-Indian Residents

Bank of India Star Pravasi Home Loan – Documents Required

Take a look at the Bank of India home loan documents list:

  • ID Proof: Aadhar Card/ Voter’s ID/ Driver’s License
  • Address Proof: Utility Bills/ Aadhar Card
  • Copy of PAN Card
  • Income Proofs: Latest Salary Slip/ Annual Income Tax Return
  • Employment Proof: Employee ID/ Business Registration

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