Bank of India gives lowest home loan with 8.3% interest rate

Bank of India

Bank of India (BOI), a renowned public sector bank, is currently giving the lowest interest rate on house loans. BOI’s Star Home Loan, with an exceptional annual interest rate of 8.3 per cent, establishes a new level of affordability in home finance that no other public or private sector bank can match.

The Star Home Loan, designed with consumer convenience in mind, provides buyers with a simple financing solution. Beginning with an EMI of Rs 755 per month per lakh, the loan package is reinforced with an overdraft (OD) option, giving homebuyers a flexible and comprehensive financial support system.

Aside from house construction, restoration, and furniture, the Star Home Loan extends its reach beyond typical financing to encourage clean and renewable energy alternatives. In keeping with the ambitious PM Surya Ghar Muft Bijli Yojana, the bank provides financial help for the installation of rooftop solar panels up to Rs 10 lakh at the same interest rate as home loans.

In addition, in recognition of the growing importance of solar energy, the Bank of India has developed a special BOI Star Solar Rooftop Finance Loan with an attractive interest rate starting at 7.00 per cent per annum and no processing fees. Individuals wishing to install a solar rooftop can obtain financing for up to 95 per cent of the project cost, with a maximum repayment period of 120 months.

Furthermore, consumers might receive a government subsidy of up to Rs 78,000/-, which can be claimed directly. Transitioning to solar energy has never been easier, thanks to the Bank of India’s commitment to supporting sustainable energy solutions and providing accessible financing alternatives.

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