Why Choose Indian Overseas Bank for Home Loans?
Decades of Trust: With years of experience and branches across
cities and rural areas, we are the smart choice for home loans, wherever you are.
Flexible Solutions: Whether buying, building, renovating, or
expanding, our home loans are tailored to your needs with convenient repayment options.
Low Rates: Enjoy some of the lowest rates this year, making your
monthly payments more affordable and stress-free.
Simple Process: Apply for your home loan easily online with
minimal paperwork, ensuring a hassle-free experience.
Fast Decisions: Get quick approvals and support at every step,
especially when applying online.
Sweet Deals: Benefit from exclusive offers on rates and fees,
specially designed for women, government employees, and select groups.
Indian Overseas Bank Home Loan Products
Indian Overseas Bank home loan has all of your home-buying needs:
Home Purchase Loans: Get financing to buy a new or pre-owned
apartment, house, or builder floor with our home purchase loan options.
Home Construction Loans: Build your dream home from the ground up
with our convenient home construction loans.
Plot Loans: Purchase a residential plot to build your home with
our plot loan solutions (subject to rules on loan size and area).
Composite Loans: Buy a plot and simultaneously finance the
construction on it with our composite loan offerings.
Home Improvement/Extension Loans: Renovate, expand, or upgrade
your existing home with affordable home improvement and extension loans.
Home Advantage/Home Decor Loans: Avail the best home loan rates
in India for interiors, furniture, or minor improvements with our home decor loan solutions.
Indian Overseas Bank Home Loan Interest Rates
Indian Overseas Bank - Best Home Loan Rates in India keeps your long-term
affordability in mind. Interest rates are generally linked to the Repo Linked Lending Rate
(RLLR) and are reviewed periodically.
| Loan Product (IOB Scheme) |
Interest Rate (p.a.) |
Processing Fee |
Max Tenure |
LTV (Funding %) |
| Standard Home Loan |
8.00% – 10.50% |
0.5% of loan (max ₹25,000) |
Up to 30 yrs |
75% – 90% |
| Home Loan Top-Up |
10.35% – 11.55% |
0.5%–1.0% of loan |
Up to 15 yrs |
— |
| Home Improvement/Decor Loan |
9.90%+ |
0.5%–1.0% |
Up to 15 yrs |
75% (LTV) |
| Composite/Plot Loans |
9.80% – 10.05% |
1.0% of loan |
Up to 10 yrs |
30–60% (land) |
| NRI Home Loans |
8.40%+ |
0.5% (NRI, as per scheme) |
Up to 20 yrs |
Up to 80% |
- Processing Fee: 0.5% of the loan, capped at ₹25,000. Some promotional 100%
waiver offers may apply.
- Prepayment / Foreclosure: Nil for floating rate individual loans.
- Repayment Period: Flexible, up to 30 years for most products.
- Interest Type: Floating (linked to RLLR).
Indian Overseas Bank Home Loan Eligibility Criteria
Age: 21–70 years (borrower’s age at loan maturity must not exceed
70 years).
Income: Salaried individuals, self-employed persons, NRIs, and
pensioners are eligible with proof of regular income.
Job/Business: Minimum 1 year with the current employer for
salaried applicants, or at least 2 years in business for self-employed individuals.
Credit Score: A score of 650 or higher is preferred. Lower scores
may still be considered with additional evaluation.
Co-applicant: Adding a spouse or parent as a co-applicant can
improve approval chances.
Property: The property must have a clear, marketable title and be
located in an approved area.
Required Documents for the Indian Overseas Bank Home Loan Partner
To get your approval application quickly, Indian Overseas Bank Loan for Property
Purchase in India, make sure you have these things ready:
Application Form: Duly filled and signed application form with
photographs of all applicants.
ID Proof: Aadhaar, PAN, Passport, Voter ID, or Driving License.
Address Proof: Utility bill, Aadhaar, bank passbook, or rent
agreement.
Income Proof (Salaried): Salary slips (last 3–6 months), Form 16,
and recent bank statements.
Income Proof (Self-employed): ITRs (last 2–3 years), business
proof, audit reports, and balance sheet.
Property Documents: Sale deed, title deed, tax receipts, plan
approvals, chain of title, and NOC if required.
Other Documents: Processing fee cheque, documents of
co-applicants, and property insurance (if requested by Indian Overseas Bank).
How to Apply Indian Overseas Bank Home Loan via
TyTil
TyTil brings an easy, transparent, end-to-end paperless application:
- Register on TyTil : Choose Indian Overseas Bank as your
lender and specify your home loan requirement.
- Instant Eligibility Check: Enter details like income, age, property, and
co-applicant for a real-time assessment and best-match schemes. Use the Indian Overseas Bank
Home Loan EMI Calculator for instant eligibility check.
- Upload Documents: Scan and securely submit all required documents on the
TyTil portal.
- Application Review: TyTil experts assist with
paperwork, resolve issues, and track your file with Indian Overseas Bank until sanction.
- Updates & Disbursal: Stay informed with real-time SMS and app notifications
until the loan amount is disbursed.