Bank of India (BOI), a prominent public sector bank, has announced a significant reduction in its home loan interest rates, dropping them from 8.45% to 8.3%. Additionally, the bank has waived processing fees for new home loans until the end of this month, positioning itself as a frontrunner in the market. This competitive offer outshines rates offered by industry giants such as SBI and HDFC Bank, which start at 8.4%. Interested customers can avail of this offer until March 31.

BOI’s Star Home Loan:

BOI’s Star Home Loan, now available at a remarkable rate of 8.3% per annum, sets a new benchmark for affordability in the realm of home financing. This comprehensive loan package prioritizes customer convenience and offers EMIs as low as ₹755 per month per lakh. Notably, the Star Home Loan comes with an overdraft (OD) facility, providing buyers with flexible financial support.

Furthermore, in alignment with the PM Surya Ghar Muft Bijli Yojana, BOI extends financing for the installation of rooftop solar panels, up to ₹10 lakh, at the same interest rate applicable to home loans. This initiative underscores the bank’s commitment to promoting clean and renewable energy solutions.

Special BOI Star Solar Rooftop Finance Loan:

Recognizing the growing importance of solar energy, Bank of India has introduced the specialized BOI Star Solar Rooftop Finance Loan. This loan offers an attractive interest rate starting at 7% per annum, with zero processing charges. Customers can secure financing for up to 95% of the project cost, with a repayment period of up to 120 months. Additionally, eligible customers can benefit from a government subsidy of up to ₹78,000, directly claimable.

With these initiatives, Bank of India aims to facilitate the transition to sustainable energy solutions while providing accessible financing options to its customers.