Public Sector Bank (PSU)Standard Home PurchaseVerified: 2026-09-29

Bank of India Star Home Loan

Primary Lending Institution:Bank of India

Up to ₹10 Crore home loan at 8.45% – 9.30% with Up to 30 years tenure.

Interest Rate8.45% – 9.30%Floating linked to RLLR / EBLR

Loan Amount QuantumUp to ₹10 CroreSubject to LTV & income

Maximum TenureUp to 30 yearsOr up to age 70 years

Processing Fees0.25% (Min ₹2,500, Max ₹20,000) + GST

What's Missing: Crucial Fine-Print & Exclusion Gaps

This loan requires the property to be in an approved society/project — self-constructed rural properties often ineligible without formal NA orders.

Note: Eligo publishes these exclusions directly from RBI Master Directions and bank MITC charters to prevent unexpected rejections or non-refundable fee losses.

What is Bank of India Star Home Loan?

Flagship residential mortgage product of Bank of India linked to RBLR, featuring flexible step-up repayment structures.

Key Benefits & Features

Competitive RBLR linked pricing; overdraft option available; up to 90% financing for loans up to ₹30 Lakh; zero prepayment penalties.

Property & Project Eligibility Requirements

Clear legal title, approved builder project or municipal building map.

Borrower Eligibility Criteria

Salaried or self-employed Indian residents with minimum regular income ₹15,000/month.

Age Requirement21 to 70 Years

Min. Monthly Income₹15,000

Min. CIBIL Score675+

Prepayment PenaltyNIL on Floating

How to Apply (3 Verified Paths)

📱Path 1: Existing Customers

Apply online through net banking portal or visit lending branch with loan inquiry.

🌐Path 2: Fresh Online Portal

Apply online at https://bankofindia.co.in/star-home-loan with digital KYC and property details.

🏢Path 3: Branch / RACPC Walk-In

Visit nearest branch of the institution with income proofs and sale agreement.

Eligo does not collect loan applications or borrower information. Apply exclusively on the verified official domain:

Visit Official Portal↗

Documents Required Checklist

Aadhaar Card, PAN Card, Last 3 months salary slips or 2 years ITR-V, 6 months bank account statement, Title deed, Approved building plan and municipal tax receipts.

Frequently Asked Questions

What is the maximum loan tenure available for Bank of India Star Home Loan?

The maximum repayment tenure offered for Bank of India Star Home Loan is Up to 30 years, subject to borrower's age not exceeding 70 years at loan maturity.

What are the processing charges and prepayment rules for Bank of India Star Home Loan?

The processing fee is 0.25% (Min ₹2,500, Max ₹20,000) + GST. As per RBI guidelines, zero prepayment penalties apply to all individual floating-rate home loans.

What documents are required to apply for Bank of India Star Home Loan?

Applicants must provide KYC (Aadhaar, PAN), 3 months salary slips or 2 years ITR with computation, 6 months bank statements, and clear property title documents with municipal sanctions.

Why does Bank of India Star Home Loan require property approval in a formal layout?

This loan requires the property to be in an approved society/project — self-constructed rural properties often ineligible without formal NA orders.