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Bank of India (BOI) Home Loan, Interest Rate and EMI Calculator January 2019

(Updated on 10.01.2019) Bank of India Home Loan EMI Calculator January 2019 Loansninsurances.com provide a simple tool to calculate your Home Loan EMI on the basis of ✓ Interest Rate ✓ Loan Tenure & Processing Fee.


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Loan Amount
Yearly Income
Disclaimer: We do not provide Home Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

Bank Of India Home Loan

Bank of India one of the leading banks in India has exciting home loan products to offer you. BOI Home Loan also called “BOI Star Home Loan”can be availed to purchase plot for construction of House, construction /renovation/ repair/alteration/addition to house/flat and also to buy a fully constructed home. Bank of India Home Loan is offered to every class of people at its reasonable and affordable rates of interest, calculation of interest on daily balance basis, Life Insurance coverage for home loan borrowers, and varied Home Loan EMI options and much more. Know your home loan eligibility and get the best deal with BOI Home Loan Eligibility Calculator.

Also avail BOI Star Personal Loan at the best profitable rates of interest and fund your financial crisis.

Bank Of India Home Loan Interest Rates

  • As per RBI guidelines all rupee loans sanctioned and credit limits renewed w.e.f. 1st April 2016 will be priced with reference to the the 1 Year Marginal Cost of Funds Based Lending Rate (MCLR)..
  • All Rate of Interest under Retail Loans is linked to 1 year MCLR. Any concession granted in Retail Loan is subject to minimum 1 year MCLR


Star Home Loan offer upto 30.06.2018
Star Smart Home Loan Upto Rs.30 Lacs – MCLR
Star Diamond Home Loan Above Rs.30 Lacs (CIBIL Score 760 and above) – MCLR
Above Rs. 30 Lacs (CIBIL Score below 760) – MCLR + 0.10% p.a


Particulars Rate of interest
Maximum Limit as per guidelines of Priority Sector Norms for Home Loan 1 year MCLR


Rate of Interest presently applicable in respective Home Loan account plus premium of 0.50% (floating ROI, p.a. at monthly rests) subject to minimum 1 year MCLR

Bank Of India Home Loan EMI Calculator

 Bank of India Home Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Home loan emi within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

Types of Home Loans

1) BOI Star Smart Home Loan

  • For existing customer with average balance of Rs.5000/- for last one year and New customer who opens a new SB/CD account with opening balance of Rs.5000 & all other self-employed individuals.

  • Min. Loan amount Rs. 5 Lacs for salaried individuals

  • Min. loan amount Rs.10 Lacs for others.

  • Maximum Limit – As per normal home loan scheme.

2) BOI Star Pravashi Home Loan

  • Non Resident Indians (NRIs) holding valid Indian Passport ; Persons of Indian Origin (PIOs) holding Foreign Passport with steady source of income are eligible.

  • Loan amount for construction/purchase of a house/flat-Rs.300 Lacs (Rs.500 Lacs in major metros viz. Mumbai, Kolkata, New Delhi and Chennai)

  • Repairs/renovation/extension to house/flat –Rs.50 lacs

  • Purchase of a plot – Rs.100 lacs

3) BOI Star Diamond Home Loan

  • High Net worth Individuals, Firms/ Corporate for residential accommodation of their partners/directors, having minimum average gross income of Rs.1 crore and above during the last 3 years as per audited balance sheet /IT Returns

  • Loan amount up to 5 crore

  • One time processing charge of Rs.50, 000 or maximum as per Star Home Loan Scheme, whichever is higher.

Bank of India MCLR Rate January 2019

Name of the MCLR Rate effective from 10.01.2019
Overnight MCLR 8.20%
1 Month MCLR 8.30%
3 Months MCLR 8.45%
6 Months MCLR 8.60%
1 Year MCLR 8.70%

Bank of India Home Loan Eligibility

  • Salaried employees, Professionals, Self-employed persons.

  • Requests are also considered from NRIs, PIOs, HUF, and Prop. Firm, Partnership firms and corporate .

  • For construction/purchase of a house/flat-Rs.300 Lacs (Rs.500 Lacs in major metros viz. Mumbai, Kolkata, New Delhi and Chennai).

  • Loan for installation of Solar PVs at Home Loan ROI, as per limit fixed by the Bank.

  • Other eligibility will also be taken into consideration.

Bank of India Home Loan Documents Required

  • Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority).

  • Duly filled Application Form with Photograph.

  • Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority).

  • Education Qualifications – Latest Degree.

  • Latest Salary-slips for 3 months.

  • Certificate & Proof of business existence along with Business Profile.

  • Form 16 for last 2 years.

  • Last 6 months Bank Statements(salary account).

  • Last 12 months Bank Account Statements (self & business).

Latest News on Bank of India

Bank of India cuts lending rates by 0.05% to 0.10% which is effective from 10th September 2017. Amidst, When every bank is cutting there lending rates, Bank of India is also leading. MCLR (Marginal Cost of Fund Based Lending Rate) is revised every month which ensures fair interest rates to the borrowers as well as banks. The revised marginal cost based lending rate for One – year has been changed to 8.30% which was earlier at 8.40%.

  • The overnight & 1 – Month MCLR is reduced and stands at 7.90% & 8% respectively.
  • The loan of 3-month tenure will bear interest rate of 8.10 per cent which is 0.05 per cent down from current MCLR. The 6 month MCLR remained unchanged at 8.25%.