- Provides loans to purchase a Plot for construction of a House, to purchase/construct house/flat, as well as for renovation/repair/alteration/addition to house/flat, furnishing of house, Takeover of customer's housing loan extended by other Banks/F.Is /NBFCs at highly flexible and liberal terms and conditions.
- Under the Bank Of India Home Loans services the maximum loan amount is Rs.300 lacs and repayment ranges up to 20 years, with a very reasonable margin and nominal processing charges. No commitment /administrative charges.
- The Home Loans are provided at very Competitive Rates Of Interest, currently available in the industry.
- In the Bank Of India Home Loans system there are options for different EMI amounts for different periods during tenure of loan to suit the customers' repayment capacities.
· Interest is calculated on daily balance basis which is of great advantage to customer as it results in lower interest amount.
· Home Loans are given to NRIs as well as Persons of Indian Origin.
· Simplified application form/procedures for convenience of customers, and speedy approvals.
· Free Personal Accident Insurance Cover
- Life Insurance Cover to borrowers for Loan Protection(optional).
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