• Provides loans to purchase a Plot for construction of a House, to purchase/construct house/flat, as well as for renovation/ repair/alteration/addition to house/flat Maximum loan amount is Rs.500 lacs and repayment ranges up to 30 years, with reasonable margin and nominal processing charges. No commitment /administrative charges
  • The loan is available at very competitive rates of interest, currently available in the industry.
  • Option for different EMI amounts for different periods during tenure of loan to suit customer's repayment capacity
  • Prepayment of Loan permitted. No prepayment charges under floating rate option
  • Interest is calculated on daily balance basis which is of great advantage to customer as it results in lower interest amount.
  • Loan to NRIs as well as Persons of Indian Origin.
  • Simplified application form/procedures for convenience of customers, and speedy approvals.
  • Free Personal Accident Insurance cover (Renewed at banks discretion)
  • Life Insurance Cover to borrowers for Loan Protection(optional)
  • To avail loan for your dream home, just give a missed call on 8010968305 or SMS <HL> to 7669300024.
  • Please visit our nearest branch for details


Salaried employees, Professionals, Self-employed persons. Requests are also considered from NRIs, PIOs, HUF, and Prop. Firm, Partnership firms and corporate


  • To purchase/construct house/flat
  • To renovate/extend/repair existing house/flat.
  • To purchase a plot of land for construction of house
  • Takeover of home loan from other banks/FIs- subject to conditions.

Quantum of Loan

For construction/purchase of a house/flat-Rs.300 Lacs (Rs.500 Lacs in major metros viz. Mumbai, Kolkata, New Delhi and Chennai)

  • Repairs/renovation/extension to house/flat –Rs.50 lacs
  • Purchase of a plot - Rs.300 lacs
  • Loan for purchase of household articles along with home Loan for furnishing the house/flat @15% of Home Loan amount Max. Rs. 5.00 lac is offered under Secured Personal Loan with same Rate of Interest as applicable under Home Loan with maximum repayment period of 10 years including moratorium period, if any.
  • Loan for installation of Solar PVs at Home Loan ROI, as per limit fixed by the Bank
  • Note: Minimum Home Loan :- For Metro/Urban Centers :-Rs.

Processing charges / Other expenses

All linked to Banks MCLR
BOI MCLR 8.70 % w.e.f. 10.12.2018
(All charges are Exclusive of GST)

Star Home Loan/Star Smart Home Loan/ Star Pravasi Home Loan /Star Diamond Home Loan

Floating Category Up to 30 years (CARD RATE)

For Women : 1 Year MCLR + 0.15 %

For Others : 1 Year MCLR + 0.20 %

Star Home Loan/Star Smart Home Loan/Star Pravasi Home Loan :

For Individuals –

For all loans amounts:-

0.25 % of loan amount

Min. Rs. 1,000/- Max. Rs. 20,000/-

For Partnership firms and Corporates:

Processing charges to be double that of applicable to individuals.

For Rural areas:-

Processing charges 75% of that applicable to individuals in respect of loan availed by borrowers from rural branches.

Star Diamond Home Loan

One time processing charge of Rs.50, 000 or maximum as per Star Home Loan Scheme, whichever is higher.



For Loan upto Rs.20 Lacs

For Loan up to Rs.75 Lacs:

For Loan above Rs.75 Lacs:

For 1st House




For 2nd or Subsequent Home Loan/House/Flat




Where cost of house exceeds Rs.10 lacs – Margin is calculated on pure cost of the house/flat excluding stamp duty, Registration and other documentation charge.

For houses with cost not exceeding Rs.10 Lacs –expenses towards stamp duty, registration and other documentation charge can be included in the project cost

Repayment(can be customized)

Highly flexible - maximum 30 yrs. including moratorium period upto 36 months (max.) in monthly installments, including Bank’s approved projects. Loan to be normally repaid before date of retirement in case of salaried persons and before attaining 70 years of age in case of others. Repayment upto 70 years also allowed to salaried employees having assured post retirement income

Eligible Quantum of Loan/ EMI

Calculation of quantum of loan is related to Income/repayment capacity of proponent/borrower

Salaried Employees :

72 times of gross monthly salary or 6 times of gross annual income based on I-T Returns.

Self-employed/ Professionals etc.

6 times of Gross annual income based on I-T Returns

HUF/Proprietorship /Partnership Firm/ Company

6 times of cash accruals (PAT+ Depreciation) as per Balance Sheet/P&L Account

In case of Individuals

Net Take Home pay(NTH)/income (net of all deductions including EMI of Proposed loan) is stipulated as under :-


Gross Monthly Income up to Rs.1 Lacs NTH Minimum – 40% Gross Monthly Income over Rs.1 Lac up to Rs. 5 Lacs NTH Minimum – 30% Gross Monthly Income over Rs.5 Lacs NTH Minimum – 25%

In case of HUF/Proprietorship/ Partnership firm/Company: DSCR should be minimum 1.5.

Rate of Interest

Particulars Rate of interest
Star Home Loan/Star Smart Home Loan/Star Pravasi Home Loan /Star Diamond Home Loan 0.10% above 1 year MCLR or REPO+ Mark-up+0.10


Mortgage/Equitable Mortgage (1st charge) on land/flat/house. Third Party guarantee (if mortgage could not be created before or at the time of disbursement).

Special Features

  • Free Personal Accident Insurance cover for the borrower (covering accidental death as well as permanent total disablement) as per terms of insurance policy covering loan outstanding as on the date of accident(Renewal at the discretion of the Bank).
  • Life Insurance cover to housing loan borrowers , at affordable premium against risk of death during tenure of loan under Group Insurance Scheme in tie up with Star Union Dai-Ichi Insurance Co. Ltd. at borrower’s own expenses & option.
  • Loan furnishing the house/flat at a rate of interest as applicable to housing loan under the scheme
  • Loan for installation of Solar PVs at home loan ROI

Other Attractive Features

  • Interest on Daily Reducing Balance Basis
  • No Pre-Payment Charges on Floating Rate Loans
  • Facility for step up/ step down EMIs
  • Inclusion of notional rental income in case of 2nd House and also Employees staying in Staff Quarters;
  • Inclusion of Income of Close relatives for enhanced loan
  • Tax Benefit on Interest and Installments repaid in Home Loans
  • Facility for 100% loan irrespective of stage of construction OR Bridge Loan subject to conditions:

RATING EXERCISE: The proponent will be eligible for loan subject to obtention of minimum marks or minimum entry level norm fixed by the bank