Bank of India Home Loan
PSU BankBank of India offers the lowest entry rate in our tracked set at 7.10%. It is a strong option for borrowers in western India who prioritise the absolute lowest rate over processing speed or digital experience.
Rates as of 2026-04-16. RBI repo rate 5.25%. Best available new-customer rate across all tracked lenders: 7.15%.
Already have a Bank of India home loan?
If your current Bank of India rate is above 7.10%, you are paying more than what Bank of India is offering new customers today. The gap could be anywhere from 50 to 235 basis points depending on when you took the loan and which benchmark it is on.
Products offered
- BOI Home Loan
- BOI Balance Transfer
- BOI Plot Loan
Best for: Borrowers seeking the lowest absolute entry rate in the market at 7.10%.
Strengths and weaknesses
Rate reset at Bank of India
Bank of India processes rate resets through the home loan branch.
Get the rate reset letter templateBalance transfer friction
Leaving Bank of India for a balance transfer is straightforward. Foreclosure letters are issued within a reasonable timeline and no foreclosure fee applies on floating-rate loans (RBI 2012 circular).
Read the foreclosure charges guideBank of India home loan at a glance
| Lender type | PSU Bank |
| Headquarters | Mumbai |
| Regulator | RBI |
| Floating rate range | 7.10% to 9.50% (EBLR-linked) |
| Processing fee | 0.25% of loan (max ₹20,000) |
| Max tenure | 30 years |
| Max loan amount | No upper limit |
| Prepayment charge | Nil on floating rate |
| Balance transfer friction | low |
| Official website | bankofindia.co.in |
Data as of 2026-04-16. Rates are for salaried borrowers with CIBIL 750+. Verify with Bank of India for profile-specific quotes.
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