Vivid News 24: Home loan from BOI: only Rs. 755 per lakh. For house loans, Bank of India has astonishing EMI rates. Additionally, the applicant for a home loan will also receive three other advantages concurrently. Low interest rates that are guaranteed, a simple remittance process, and tax savings.
Bank of India’s ‘Star Home Loan’ has brought such opportunities to the customers. Where the annual interest rate is fixed at only 8.30%. There is another advantage with this. That is, applying for home loan by 31st December 2022 will not have to pay any processing fee.
Customers of this bank will also get other benefits. That is, if they have a home loan in another bank, they can bring it under this bank. Not only the bank but also the loan from other financial institutions can be transferred to Bank of India if the customer wants.
This offer is available for purchase of any plot of land. The same can be found for building a house. Or buying and renovating an old or new flat which can be utilized for house renovation.
Low EMI rates like banks. This bank also gives enough time to repay the loan. Banks are giving a maximum of 30 years to repay the loan. And that too considering the affordability of customers. EMI rates vary depending on the loan tenure. However, not only the EMI rate, but also the repayment of the customer’s loan is kept in mind in this case.
There is another advantage. That is, in most cases a charge is made for prepayment or part-payment of the loan. But Bank of India does not charge in such cases. Rather, borrowers get tax exemptions on repayment interest and installments.
Note that the interest rate is calculated daily. So that interest can be charged at a lower rate.
Bank of India also offers top-up on furniture and top-up. This offer can also be availed in a very easy manner. Of course, it is not only easy, but it is possible to get the benefits of this top-up in a timely manner. This offer is available through Bank of India branches spread across the country.