Bank of India - Smart home loan help required

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I have availed the Bank of India's smart home loan (SBI Maxgain type OD based loan) at a very good ROI of 8.4%

When I log into the account, there is no way to see the details of the loan. I would like to see the split-up of the interest vs principal in the EMI.
I am also not able to see any break-up like that. Even the statements only show the amount I have transferred to the OD account.
I cannot see how many months of the loan duration is remaining, based on the excess amount in the OD account.

Can anyone with a BOI home loan guide me to get these details please?

 

[umang656]

Hi

May i know when your loan started because i also took BOI Smart home loan (March 2025) but they have not given me OD facilities because this product causing issue and affecting person Cibil as per my branch and POC

what they are saying is calculation of interest on extra amount is not calculated properly and hence deduction EMI Is not accurate

Please keep on updating on if you are facing problem or not

 

[TheCoinCollector]

I have availed the Bank of India's smart home loan (SBI Maxgain type OD based loan) at a very good ROI of 8.4%

When I log into the account, there is no way to see the details of the loan. I would like to see the split-up of the interest vs principal in the EMI.
I am also not able to see any break-up like that. Even the statements only show the amount I have transferred to the OD account.
I cannot see how many months of the loan duration is remaining, based on the excess amount in the OD account.

Can anyone with a BOI home loan guide me to get these details please?

If you are ok, switch to SBI Maxgain. I think their current RoI is 8.40% for maxgain. I think SBI is better than BoI in the long term. Better save some time in the long term.
SBI sends provisional details if you mail the branch manager. Also, near the year end, they send provisional interest certificate which helps.

 

[mojo_jojo123]

BOB maxgain is best .. they give OD from day 1 in under counstruction property as well

 

[sriteja]

Does BoI allows prepayment and can we do it through online or need to visit branch?

 

[mojo_jojo123]

is BOI smart home loan working properly now ?

 

[mojo_jojo123]

I have availed the Bank of India's smart home loan (SBI Maxgain type OD based loan) at a very good ROI of 8.4%

When I log into the account, there is no way to see the details of the loan. I would like to see the split-up of the interest vs principal in the EMI.
I am also not able to see any break-up like that. Even the statements only show the amount I have transferred to the OD account.
I cannot see how many months of the loan duration is remaining, based on the excess amount in the OD account.

Can anyone with a BOI home loan guide me to get these details please?

were you able to figure out ?

 

[umang656]

Seems Like Bank of India - Smart home loan EMI Calculation Is different from BOB & SBI OD-Based Loan

According to my branch Manager, here's how it works

Loan Amount - 50,00,000
Duration - 220 Months
ROI - 7.60%

Month 1 EMI -
Amount 1 ( Principal) - 22727.27 (50 Lac/220 Months) (Whatever The EMI Date You Choose lets Say For E.g 5 Nov)
Amount 2 (Interest) - 31666.5 (50 Lac * 0.6333%) (7.60/12= 0.633 PM ROI) (Interest Charge on 22nd of everymonth) ( 22nd Oct)

Total EMI - 54393.77

Month 2 EMI
Amount 1 ( Principal) - 22727.27 (This Amount will be Fixed) (5th Dec)
Amount 2 (Interest) - 31521.068 (Balance Left - 49,77,272.73 * 0.6333%) (22nd Nov)

Total EMI - 54,248.33

Lets Say Now You have Kept 5 Lac in OD Account

Month 3 EMI
Amount 1 (Principal) - 22727.27 ( Fixed Amount)
Amount 2 ( Interest) - 28210.63 ( Balance Left - 44,54,545 (49,54,545.46 - 5,00,000) * 0.6333%) (22nd Dec)

Total EMI - 50,937.90


Is this True? According to Other Bank OD Loan Ideally it should be 42,816 P.M

and there are other T&C as well Like You have to keep on doing the transaction in OD account otherwise it will be marked as NPA

*Numbers are not actual it's just for calculations

anyone with this facility confirm this calculation?

 

[CodeAndCapital]

@auto

I have availed the Bank of India's smart home loan (SBI Maxgain type OD based loan) at a very good ROI of 8.4%

When I log into the account, there is no way to see the details of the loan. I would like to see the split-up of the interest vs principal in the EMI.
I am also not able to see any break-up like that. Even the statements only show the amount I have transferred to the OD account.
I cannot see how many months of the loan duration is remaining, based on the excess amount in the OD account.

Can anyone with a BOI home loan guide me to get these details please?

How are you operating the OD loan account? I don't see the loan account at all in net/mobile banking. I can deposit funds from other banks through NEFT/IMPS, but how do I withdraw?

 

[Kabir_1112]

Does BoI allows prepayment and can we do it through online or need to visit branch?

Bank of India provides online payment for any amount you want to make.