Bank of India announces 100% processing charge waiver on home loans, four wheeler loans

New Delhi: Bank of India (BOI), public sector bank, has announced a 100 percent waiver of applicable processing charges on eligible Home Loans and Four-Wheeler Loans. The loan waiver is effective from 1 October 2026 to 31 March 2027, BOI has said.

"Introduced during the festive season, the limited-period offer aims to reduce upfront borrowing costs for eligible customers, meet their home and vehicle ownership aspirations, and strengthen the Bank's presence in the retail lending segment," the bank said.

Who can avail Home loan processing charge waiver offer?

Customers with a CIBIL personal score of 725 and above can avail themselves of a complete waiver of applicable processing charges.

The waiver charges benefit extends across Home Loan variants such as Top-up Loans, Smart Home Loans and Star Diamond Home Loans.

"Home Loan Takeovers are also covered, subject to the Bank's applicable eligibility criteria. Processing charges are already waived for certain housing loan schemes, including PMAY 2.0 Urban, Affordable Housing Loans and Star Samriddhi Home Loans, and these existing benefits will continue," BOI said.

Who can avail 4 wheeler loan processing charge waiver offer?

For Four-Wheeler Loans, individual customers with a CIBIL personal score of 725 and above, can avail themselves of a 100% waiver of applicable processing charges on eligible new vehicle loans.

The benefit is also available to eligible non-individual borrowers with an external credit rating of BBB and above, or CMR-3 and better.

Bank of India is also offering a 100% waiver of applicable processing charges on loans for purchasing electric four-wheelers, irrespective of the applicant's CIBIL personal score, subject to applicable loan terms and conditions.

"The move reflects Bank of India's continued focus on making retail credit more accessible and cost-effective while strengthening its Home Loan and Vehicle Loan portfolios. By reducing upfront financing expenses, the Bank seeks to provide additional value to eligible customers, planning to purchase a home or four-wheeler. Customers can visit their nearest Bank of India branch or the Bank's official website for further details regarding eligibility and the application process," said BOI.