Having an intention of giving new life to empower people, IOB provides an attractive and valuable set of home loans. Home loan features like interest rate, tenure, processing charges, loan amount, and more vary widely across the lenders depending on their cost of funds and credit risk assessment of their applicants. IOP offers home loans such as Subha Gruha, IOB Home Improvement Scheme, IOB NRI Home Loan, and IOB Subhagruha Top-up Home Loan.

Indian Overseas Bank offers home loans at 8.40% p.a. onwards for loan tenures of up to 30 years and loan amounts of up to 90% of the property’s value. The bank offers repayment holiday periods of up to 18 months for under-construction property from the date of first loan disbursement or the completion of construction, whichever is earlier. The maximum repayment holiday period is three months in case of home loan availed for home purchases.

Indian Overseas Bank Home Loan interest rates for fresh home loan borrowers start from 8.40% p.a. onwards based on the bank’s internal rating for the home loan applicants. The differential interest rates would also depend on the applicant’s occupation profile of salaried or self-employed, irrespective of the loan amount.

Consumers can avail of home loan schemes for the purchase, construction, or renovation of a property, and home improvement to repair, renovation, modification, and upgradation such as painting, tiling, routine repair, fixing marbles, rewiring, making additions (cupboards, woodwork), and more to the existing house/flat. NRI applicants can avail of IOB NRI Home Loans for purchasing, constructing, or renovating houses and existing home loans to top-up loans over and above the existing home loans to meet personal necessities other than speculative purposes.

Grow with IOB to grow your status and turn your dreams into reality.