IOB Home Loan Apply, Interest Rate 2024 Eligibility

Welcome dear reader, let’s learn about How to get IOB Home Loan, Eligibility, Interest Rate, EMI Calculator, Minimum Salary, Civil Score and more details that we read in this article please read till the last.

Home loan comes under the category of Secure Loan. You can take home loan to fulfill your dream of home.

Like other banks and financial institutions, IOB Bank also provides Indian Overseas Bank Home Loan. If you do not have your own house and you do not have money to build or buy a house, then in this situation you can apply for home loan.

In this article, we will know in detail what is IOB home loan, what is the interest rate, documents, eligibility etc. for this loan and how can we apply for this home loan etc., so you can complete this article. Read till the end

IOB Home Loan 2024 – Indian Overseas Bank Home Loan

According to the convenience of the customers, Indian Overseas Bank offers many types of home loan schemes. Lenders check the credit history of the customer before giving a home loan, So for you to apply for home loan, CIBIL score should be very good

The loan amount given under IOB home loan is given keeping in mind the applicant’s CIBIL score, income, age, employment status etc. People with more income and higher credit score can get home loan up to higher loan amount. Government Scheme of Government of India Pradhan Mantri Awas Yojana Under this you can get subsidy on home loan.

IOB Home Loan Interest Rate starts from 7.05% per annum. The interest rate can be different for different types of home loan schemes. You can avail this home loan with a maximum loan tenure of 30 years. The processing charge for this home loan is up to 0.50% of the loan amount (maximum 25000). Depending on your age and repayment capacity, you can get as much loan amount as you want.

If you belong to Indian Overseas Bank personal loan If you want to take advantage of this then you can click on this link IOB Personal Loan You can apply for personal loan by clicking on

Key Features of Indian Overseas Bank Home Loan

• Loan Name: Indian Overseas Bank Home Loan
• Lender Name : Indian Overseas Bank
• Interest Rate : Starting from 7.05% to 7.30% P.A.
• Home Loan Amount: Up to 90% of the property value
• Loan tenure: Up to 30 years
• Processing Fee: Up to 0.50% of the loan amount (maximum 25000)
• Official Website: https://www.iob.in/

IOB Home Loan Interest Rate 2024

Indian Overseas Bank home loan interest rate starts from 7.05% p.a. The interest rate may be different for different types of home loan schemes. People with high income and good CIBIL score can take advantage of the attractive interest rates of the bank. Before taking a personal loan, we should Personal loan interest rate 2023 Similarly, before taking a home loan, we need to know about Home loan interest rate 2023 It is necessary to have information about

interest rate from the table given below:

Housing loans	Starting from 7.05 p.a.
Subhagruha top up loan	Starting from 9.25 p.a.
Home improvement	Starting from 7.25 p.a.
Loan against property	Starting from 9.75 p.a.

Benefits and Features of Indian Overseas Bank Home Loan

• One can take a home loan for buying a house, for construction or renovation of a house, for buying a plot, etc.
• The interest rate of this home loan starts from 7.05% p.a.
• The applicant can get maximum loan amount depending on his income and his repayment capacity.
• All types of groups of individuals, members of cooperative societies can apply for IOB Housing Loan.
• You can get a home loan up to 90% of the property cost.
• Margin – Margin ranges from 10% to 25% of the estimated cost.
• The loan tenure of Indian Overseas Bank Home Loan is up to a maximum of 30 years.
• You can repay your loan anytime during the loan tenure as there is no prepayment fee charged by the bank.

IOB Housing Loan Schemes

IOB Bank offers a variety of home loan schemes which are as follows:

• Housing Loans Subha Gruha
• Home Improvement Scheme
• NRI Home Loan

Home Loan Subha Home

• This loan can be taken to buy, construct or renovate a house or flat.
• can be taken up to 90% of the loan amount.
• Groups of individuals, members of cooperative societies whose age is not more than 55 years can take advantage of this loan. If the applicant is a legal heir, then the age can be increased to 60 years on joining as a co-applicant.

home improvement plan

• , renovation or for any kind of modification in existing house or flat like regular repair, painting, rewiring, replacement of tiles, marble fixing, cupboard making, wood work etc.
• Under this home loan applicant can get loan amount from Rs.25,000 to Rs.15 lakh.
• No prepayment fee is charged.
• The loan is repaid in maximum 144 equated monthly installments.

NRI Home Loan

• NRI person can take advantage of this home loan.
• Applicant’s monthly salary should be equal to 10,000 Indian Rupees.
• NRIs with a valid Indian passport or Person of Indian Origin and passport holders from countries other than Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan can apply for this home loan.
• buy, build or renovate a house.
• Under this home loan applicant can get the loan amount as follows:
  • To build or buy a new house – up to 80% of the cost of the house
  • For Home Renovation – Maximum Rs.15 Lakh
• The maximum loan tenure of this loan is 15 years.
• 0.57% of the loan amount ( maximum Rs.15000 ).

IOB Home Loan Eligibility

If you fulfill all the conditions of this home loan then you can apply for it. To apply you must have the following eligibility:

• Groups of persons, members of cooperative societies whose age should not be more than 55 years are eligible.
• If the applicant is a legal heir, then the maximum age can be increased to 60 years by adding all the applicants.
• For Salaried Person – Must have a permanent job with minimum 2 or 3 years service.
• For Self Employed Professional – Should have at least three years in the relevant field.

Indian Overseas Bank Home Loan Documents Needs

Indian Overseas Bank Home Loan. Before applying, you should keep all your documents together so that whenever the bank asks for documents from you, you can show them all the documents immediately. To apply for an Indian Overseas Bank home loan, you must have the following documents:

• Application form in required format.
• Salary Certificate / Salary Slip for Salaried Applicants.
• Proof of income like ITR and bank statement for self-employed applicants.
• Experience proof supporting the line of business for non-salaried individuals.
• Agreement for sale of house/flat.
• Co-operative societies will have to submit proof of membership.
• , Appraisal Reports, Legal Opinions from an approved lawyer/engineer.

Indian Overseas Bank Home Loan Apply

If you fulfill all the conditions of this home loan, then you can apply for it both online and offline. Information about the process of applying is given below.

IOB Home Loan apply online

• First of all you have to visit the official website of the bank https://www.iob.in/ But have to come
• website home page Apply loan online Click on this option will appear.
• After clicking, on the next page, in front of Home Loan Apply Now Click on the option

• On the next page all the home loan schemes will be open in front of you.
• Click on the loan you want to apply for.
• Then you have to select in Customer Income Type and Customer Type and click on Next.
• After coming to the next page, enter the required details in the form and click on submit.
• After this the bank will contact you and the loan process will be issued further.

How to apply offline ?

• To apply offline, you have to first go to your nearest Indian Overseas Bank branch.
• You have to contact the bank employee by going to the bank branch.
• The bank employee will provide you all the information related to the home loan.
• Then your documents will be verified.
• You will be given a form.
• Enter the required details in the form and attach the documents and submit it to the same bank.
• If your loan is approved then the loan amount is transferred to your bank account.

IOB Home Loan EMI Calculator

Before applying for a home loan, you should calculate the EMI (Equated Monthly Installment) of your loan so that you can get an idea of how much you will have to pay at the time of loan repayment. You can calculate the EMI of your loan with the help of Home Loan EMI Calculator by visiting the official website of IOB bank. If you apply for that loan without calculating the EMI of the loan, then you may face difficulties at the time of repayment of the loan.

Indian Overseas Bank Customer Care Number

You can apply for this home loan by reading this article. But if you face any problem while applying then you can contact on Indian overseas bank toll free number given below :

• Indian overseas bank toll free number : 1800 425 4445/1800 890 4445

FAQs on IOB Home Loan

My Last Thought:

In this article we have given you How to get IOB Home Loan Provided complete information about Anyone can fulfill their dream of home by joining this home loan. IOB Bank provides home loan to the customers at attractive interest rates.

If you fulfill all the conditions of this home loan, then your loan is approved in a very short time. If you want to get any other information about this home loan, then you can Indian Overseas Bank Customer Care Number can contact on

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