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
2 Responses to “Indian Overseas Bank Home Loan”
Rakesh Kumar said on April 20th, 2012 at 7:57 am
Please call to me
Bala Sundaram J said on July 9th, 2012 at 2:04 pm
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