Bank of India Home Loan for Women & Housewife

Women generally have lower incomes than men. However, despite this, women are less likely to default on their repayments compared to men. The chance of loan approval for women is also higher. They can further expect alleviated interest rates and exclusive benefits. For women who aspire to own a house, a Bank of India home loan for women can be an ideal solution. To know more, continue to scroll down. Hereunder, Urban Money detailed nearly everything you need about this remarkable credit option. Let’s dive in. 

Bank of India Home Loan for Housewife / Women – Highlights 

Bank of India home loan interest rate for females and other key parameters are as follows: 

Bank of India Home Loan Benefits for Ladies

Following are the expected benefits of the Bank of India home loan for housewives:

• Lower Interest Rates
• Higher loan amount 
• Longer repayment tenure
• Minimal Documentation
• Available overdraft facility 
• EMI begins at ₹755 per lakh.

Bank of India Home Loan for Housewife / Women – Fees and Charges 

Let’s examine the applicable fees and charges of a Bank of India home loan for women:

Bank of India Home Loan for Housewife / Women – Documents Required

Let’s examine the required documents about the Bank of India home loan for ladies:

• Proof of Identity: PAN Card, Voter ID, Valid Passport, or Driver’s License.
• Proof of Address: Aadhar Card, Driver’s Licence, Electricity Bill, or Telephone Bill.
• Income Proof: The last six months’ salary slips and one year’s ITR/Form 16. For the self-employed, the last three years of ITR, Profit & Loss Account, Balance Sheet, and Capital Account Statement. 

Bank of India Home Loan for Housewife / Women – Eligibility Criteria 

A Bank of India home loan for women eligibility criteria as follows: 

• Age: The applicant should be aged between 18 and 70 years old.
• Credit Score: The applicant must have a good credit score, preferably 700 or above. 
• Income: The applicants must earn a regular source of income sufficient to cover the loan EMI.
• Nationality: The applicant must be Indian, NRI, or PIO. 

Types of Bank of India  Home Loans for Women 

Following are the different types of credit options regarding Bank of India home loans for women:

• Star Home Loan
• Star Diamond Home Loan
• Star Smart Home Loan
• Star Pravasi Home Loan