Good news for homebuyers! Bank of India cuts home loan rates by 15 bps. Check details here
Bank of India cuts home loan rates: Bank of India (BOI), a leading public sector bank, has lowered its new home loan rates to 8.3% from 8.45% and removed processing fees until the end of this month. They boast the lowest rate among competitors. SBI and HDFC Bank, leading the industry, offer rates starting at 8.4%. The offer is valid until March 31.
At an impressive rate of 8.3% per annum onwards, BOI’s Star Home Loan sets a new standard for affordability in home financing, unmatched by any other public or private sector bank’s offerings.
Crafted with customer convenience as a top priority, the Star Home Loan offers a seamless financing solution for homebuyers. With EMIs starting as low as ₹755 per month per lakh, this loan package is enriched with an overdraft (OD) facility, providing buyers with a flexible and comprehensive financial support system.
In addition to covering traditional expenses like home construction, renovation, and furniture, the Star Home Loan extends its reach to promote clean and renewable energy solutions. In alignment with the PM Surya Ghar Muft Bijli Yojana, Bank of India provides financial aid for the installation of rooftop solar panels up to ₹10 lakh at the same interest rate applicable for home loans.
Moreover, acknowledging the escalating significance of solar energy, the Bank of India has introduced a specialized BOI Star Solar Rooftop Finance Loan. This loan option boasts an appealing interest rate starting at 7% p.a., with zero processing charges. Through this initiative, individuals seeking to install a solar rooftop can secure financing for up to 95% of the project cost, with a repayment period of up to 120 months.
Additionally, customers stand to benefit from a government subsidy of
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