Indian Overseas Bank Home Loans – Interest Rates, emi calculator

Indian Overseas Bank Home Loans: IOB is offering home loans under different schemes for the Indian residents and NRIs at attractive home loan rates of 9.55% less documents Quick and Simple Process.

It can be availed by both salaried and self-employed individuals instantly and with very less documentation requirements. Thus, with the simple processing of a few steps, you can avail your home loan from Indian Overseas Bank and make your dream home come true.

Indian Overseas Bank Home Loan Details

Interest Rates 9.55% – 9.80%
Loan Amount 3 Lakh – 50 Crore
Repayment Period Upto 30 Years
Processing Fees N.A.
Pre Payment Charges Nil
Minimum Income 12000 Per Month
Lowest EMI 844/Lakh


Loan Amount


Annual income

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Indian Overseas Bank Home Loan Eligibility Criteria:

  • Groups of individuals
  • Members of Co-operative Societies
  • Individuals not more than 55 years of age. However Individuals may be considered at the age of 60 provided their legal heirs join along with them.
  • Loan must be liquidated before attaining 70 Years of age.
  • A permanent job with a minimum of 2 or 3 years service (For salaried individual)
  • A minimum period of three years of activity in the related field(For self-employed professional)

Repayment: Repayable in equated monthly installments for a maximum period of 30 years.

No Pre payment charges.

Quantum of loan – Holiday period

  • A maximum holiday period of 18 months from the date of first disbursement or completion of construction – whichever is earlier.
  • In case the house is purchased, the holiday period is 3 months.


  • First mortgage on the property to be bought, constructed or renovated
  • The land should be in the applicant’s name or jointly with spouse who should be a co-obligant
  • Should have a clear and marketable title over the property
  • Should have comprehensive insurance on the property for adequate value
  • Additional security in the form of NSC, LIC, Units of UTI will also be accepted

Documents Required to Avail Indian Overseas Bank Home Loans:

  • An application form
  • Salary certificate as a proof of income (for employed individuals)
  • Proof of income (for professionals, business people etc.)
  • Agreement for sale of house/flat
  • Proof of membership (for co-operative societies etc.)
  • Proof for experience in the line of activity (for professionals, business people etc.)
  • Estimates for Construction/Valuation Report for Acquisition/Legal opinion on the Property from Bank approved Engineer/Lawyer

Check Your Eligibility for Home Loan At Home Loan Eligibility Calculator.

Available Loan Products of Indian Overseas Bank:
Indian Overseas Bank Personal Loan
Indian Overseas Bank Car Loan
Indian Overseas Bank NRI Home Loan

Source: Indian Overseas Bank Official Website

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