Indian Overseas Bank Home Loan

Indian Overseas Bank Home Loans starting at just 8.40% p.a.

Indian Overseas Bank offers a comprehensive home loan solution tailored to meet the diverse needs of prospective homeowners. Read More...

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Indian Overseas Bank Home Loan Highlights

Loan AmountUpto ₹15 cr
TenureUpto 30 years
Rate of Interest8.4% onward
Processing FeeUpto 0.5% of the loan amount
Max Tenure30 years
Foreclosure ChargesNil

Indian Overseas Bank Home Loans Comparison Table

Compare Indian Overseas Bank Home loan interest rates with other lenders to find the best deal. See how Indian Overseas Bank competitive rates stack up in our comprehensive comparison table.

Name of LenderAmount Up toInterest RateTenure
Axis Bank₹10 cr8.75% OnwardsUp to 20 years

Indian Overseas Bank Home Loan EMI calculator

Enter the loan amount, interest rate, and loan tenure into the Indian Overseas Bank home loan EMI calculator below to determine your monthly EMI and the total interest due over the loan period.

EMI: ₹63,337.89
Total interest: ₹26,00,546.8
Total principal: ₹50,00,000

Indian Overseas Bank Home Loans Eligibility

Indian Overseas Bank offers attractive interest rates on home loans starting at 8.4% p.a. The maximum loan tenure can be up to 30 years, ensuring a comfortable repayment period. The processing fee on these loans is up to 0.5% of the loan amount plus GST.

Indian Overseas Bank Shubh Gruha Home Loans

Indian Overseas Bank Shubh Gruha Top-up Loan Scheme

Indian Overseas Bank Home Improvement Loan Scheme

Indian Overseas Bank NRI Home Loan Scheme

Indian Overseas Bank Subhagruha-Gen-Next Home Loan scheme

Indian Overseas Bank Home Advantage Scheme

Indian Overseas Bank Shubh Gruha Home Loans

The Indian Overseas Bank (IOB) Shubh Gruha Home Loan scheme is designed to provide financial assistance for purchasing or constructing a house. It offers competitive interest rates and flexible repayment options to suit various financial needs. This scheme is suitable for both salaried and self-employed individuals, ensuring broad accessibility. Key features include a straightforward application process, the potential for a high loan amount, and extended repayment periods, making it an attractive option for prospective homeowners​

Indian Overseas Bank Home Loan Processing Fees and Charges

Indian Overseas Bank Home Loan Processing Fees

Indian Overseas Bank Home Loan Prepayment charges

Upto 0.5% of the loan amount

How to Apply for Indian Overseas Bank Home Loan?

Prospective borrowers interested in an Indian Overseas Bank home loan have the option to apply online either through the bank's official website, as outlined below:
Apply here

Via the Indian Overseas Bank Official Website

  1. Visit the Indian Overseas Bank Home Loan official website.
  2. Click on Apply now
  3. Enter the necessary details to determine the eligible loan amount.
  4. Complete the required information on right side and tap "Submit".

Documents Required for Indian Overseas Bank Home Loan

Following is the list of documents required for different categories of customers


Indian Overseas Bank Home Loan list of documents for Salaried

Indian Overseas Bank Home Loan list of documents for Self-employed professionals

Indian Overseas Bank Home Loan list of documents for Self-employed

Indian Overseas Bank Home Loan list of documents for Farmers

Indian Overseas Bank Home Loan list of documents for NRIs

Indian Overseas Bank Home Loan list of documents for Salaried

  1. Identity and residence proof (KYC), such as an Aadhaar, PAN card, or Voter ID card.
  2. Income proof, such as the last 3 months salary slip, the latest Form 16, and a six-month bank statement.
  3. A Cheque for The Processing Fee for The Loan Application.
  4. Property Documents Such as Sale Deed, NOC From the Builder or Housing Society, Advance Payment Receipt to The Builder, And Approved Construction Plan.

Property Related Documents

For New Home
  1. Allotment letter copy/Buyer agreement
  2. Payment receipt made to the developer
For Resale Home
  1. Title deeds including previous chain of property documents
  2. Agreement to sell copy
  3. Initial payment receipt made to the seller
For Construction
  1. Title deed of plot
  2. Copy of the plan approved by Local Authorities
  3. No encumbrance proof on the property
  4. The total estimate of construction by a Civil Engineer/Architect

Indian Overseas Bank Home Loan FAQ’S

Here are some of the frequently asked questions with regards to Indian Overseas Bank Home Loan

Indian Overseas Bank offers home loans starting from 8.4% p.a., varying based on the applicant's credit profile.
You can determine the interest cost using the Indian Overseas Bank Home Loan EMI Calculator. Simply input your loan amount, tenure, and interest rate into the calculator to obtain instant results.
Indian Overseas Bank adjusts its housing loan rates in accordance with the repo rate. Changes in the repo rate prompt adjustments in the rates for existing Indian Overseas Bank home loan borrowers. Additionally, Indian Overseas Bank may modify the spread over benchmark rates during special or festive home loan offers.
Co-owners of the property must also be co-applicants for the Indian Overseas Bank Housing Loan. However, not all co-applicants need to be co-owners; close family members are typically permitted as co-applicants.
Yes, partial or full prepayment of your home loan amount is allowed before the loan tenure ends. Indian Overseas Bank does not impose prepayment charges on home loans with floating interest rates.
You can reduce your Indian Overseas Bank Housing Loan interest rate by transitioning from a higher interest rate to a lower one. Indian Overseas Bank charges a conversion fee for rate reductions, or alternatively, you can transfer your home loan to another lender offering lower rates.
Kotak Mahindra Bank does not levy prepayment fees on home loans with floating interest rates. For fixed-rate home loans, prepayment incurs a fee on the outstanding loan amount plus applicable taxes, except when using own sources for pre-closure.
After property and document verification and completion of the 'own contribution' or down payment, Indian Overseas Bank sanctions the home loan. Disbursement can be requested online or offline and is contingent on construction progress.
Yes, your spouse's income can bolster your home loan eligibility. Your spouse must provide income documents to Indian Overseas Bank for consideration.
While Indian Overseas Bank doesn't specify a minimum credit score, it offers lower rates to applicants with scores of 750 and above.
Yes, you can apply for pre-approved home loan facilities based on your financial status, creditworthiness, and income. Property selection must occur within 6 months of loan sanction.
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