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Indian Overseas Bank Home Loan

  • Introduction
    Indian overseas bank offers home loan under various schemes such as home improvement scheme- for salaried individual having a confirmed service. Loan can be taken for repair, renovation, up gradation and making modifications, etc. Home Décor scheme – to furnish your home. You can apply for this loan if you are employed individual with 3 years of confirmed service but you must have your own home. Even NRI can take home loan to buy, build or renovate home. But there is a condition that the house/flat should be for your own occupation when you return to India.

    Highlights
    Interest Rate 0%
    Loan Amount Min. – Rs 100000
    Max. – Rs 5000000
    Time to Process Loan 7 days

    Interest Rates
    Tenure Interest Type Interest Rate Offer
    15 – 20 Yrs. Floating 8.75 %
    10 – 15 Yrs. Floating 8.75 %
    5 – 10 Yrs. Floating 8.5 %
    1 – 5 Yrs. Floating 8.25 %
    5 – 10 Yrs. Fixed 9.5 %
    1 – 5 Yrs. Fixed 9 %

    Fees & charges

    Fees & charges
    Processing Fee 1.5 %
    Pre-Payment Charges 1 %

    Indian Bank Home Loan

    Introduction
    Indian Bank home loan scheme enable you to you to cherish your dream of owning a house. Individuals, salaried class, businessmen, professionals and self-employed people, who have a working experience of 3 years or have completed a minimum period of service can avail this scheme. Bank also offers loan to pensioners who have good net worth / repayment capacity. However the pensioner needs to produce a guarantee / NOC from his legal heir in order to avail the loan. You can take the loan for purchasing a new house / flat or for repairing the existing one. In case you are planning to construct the house then also you can apply for the home loan by Indian bank.

    Highlights
    Interest Rate 0%
    Loan Amount Min. – Rs 100000
    Max. – Rs 20000000
    Tenure Min. – 5 Yrs.
    Max. – 20 Yrs.

    Interest Rates
    Tenure Interest Type Interest Rate Offer
    15 – 20 Yrs. Floating 10 %
    10 – 15 Yrs. Floating 9.75 %
    5 – 10 Yrs. Floating 9.5 %
    1 – 5 Yrs. Floating 9.25 %
    15 – 20 Yrs. Fixed 10.75 %
    10 – 15 Yrs. Fixed 10.5 %
    5 – 10 Yrs. Fixed 10.25 %
    1 – 5 Yrs. Fixed 10 %

    Fees & charges

    Fees & charges
    Processing Fee 0.57 %
    Pre-Payment Charges 2 %

    Security
    Mortgage of house property

    Published on August 5, 2010 · Filed under: Home Loan, Indian Overseas Bank Home Loan;
    2 Comments

2 Responses to “Indian Overseas Bank Home Loan”

  1. Rakesh Kumar said on

    Please call to me

  2. Bala Sundaram J said on

    I am on of a very old account holder of IOB .
    would like to avail loan for existing house renovation
    What are the documents need , I need approx 15L having salary net 40 K p.m 54 years of age What is my eligibilty
    Can I avail that Loan from IOB

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