Indian Overseas Bank Home Loan
Indian Overseas Bank Home Loan
Indian Overseas Bank Home Loan
Doorstep Support & Local Language
We're here to meet you where you are, in your language.
Works for Salaried & Self-Employed
Salaried or self-employed, we'll find the right loan for you.
Pan-India Reach
We serve customers in every corner of India, across tier 1, 2, and 3 cities.
Dedicated Relationship Manager
Get guidance from a dedicated expert, not a call centre.
Indian Overseas Bank Home Loan EMI Calculator
Your Monthly EMI
₹ 77,530
Total Principal
₹ 1,00,00,000
Total Interest
₹ 86,07,174
Total Payable
₹ 1,86,07,174
Indian Overseas Bank Home Loan Key Highlights
Loan Amount Up to Rs. 90% of the property cost
Rate of Interest Starts at 9.35% per annum
Processing Fee 0.50% of the loan amount
Maximum Tenure for Repayment 30 years
Rate Packages Floater
Charges for Prepayment/Foreclosure Individual/ Takeover Loans: Nil | Others: 2% of the prepaid amount
Indian Overseas Bank Home Loan Interest Rates in 2026
The IOB home loan interest rates are affordable and fall within the reach of a majority of aspiring homeowners. IOB housing loans start at 9.35% per annum and may go higher depending on the plan chosen and the borrower's repayment capacity. The table below shows the current Indian Overseas Bank Home Loan Interest Rate 2026:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| For Salaried | Starting at 9.35% per annum |
| For Self Employed | Starting at 9.35% per annum |
Indian Overseas Bank Home Loan Eligibility Criteria
Interested borrowers are advised to first go through the Indian Overseas Bank Home Loan eligibility criteria, which are based on parameters such as age, nationality, minimum income, employment status, and work experience. The table below highlights all the main Indian Overseas Bank Housing Loan eligibility criteria:
For Salaried Individuals
Age Range (in years)
21 - 60 Years
Nationality
Indian Resident/ NRIs
Minimum Income Earned
Rs. 25,000 per month
For Self-Employed Individuals
Age Range (in years)
21 - 60 Years
Nationality
Indian Resident/ NRIs
Minimum Income Earned
Rs. 25,000 per month
Indian Overseas Bank Home Loan Processing Fee and Charges
Each home loan application needs to be processed with utmost attention, and for this, the bank charges a nominal processing fee. IOB Home Loan Processing Fee is 0.50% of the loan amount. IOB also has some other nominal charges for home loans that help in maintaining the smooth processing of the loans. The table below shows the Indian Overseas Bank Housing Loan processing fee and charges:
| Processing Fee | 0.50% of the loan amount |
| Cheque Bounce | Rs. 200 per instance |
| List of Documents | Up to Rs. 500 |
| Photocopy of Documents | Up to Rs. 500 |
| Foreclosure/ Prepayment Charges | Individual/ Takeover Loans: Nil Others: 2% of the prepaid amount |
Indian Overseas Bank Home Loan Schemes and Top Plans
IOB has a perfect housing loan scheme for all potential homeowners who dream of buying a home. Here is a list of some popular IOB housing loan plans for applicants to choose from:
- Maximum repayment period of up to 30 years
- Up to 75% - 90% of the property cost as sanctioned loan amount
- Lower processing charges and hassle-free approvals
- Ideal housing loan schemes for those who want to improve an existing home by painting, carpentry, electrical fittings, and plumbing services
- Available for self-employed with a minimum 3 years of experience in the current field
- Available for salaried applicants with a take-home pay of up to 50% of the gross salary in a permanent service
- Ideal housing scheme for those who want to add more beauty to their existing home with curtains, furniture, bathtubs, air conditioners, carpets, and similar things
- Minimum margin is up to 25% of the cost
- Loan amount varies in proportion to the monthly income (5 times the gross monthly income/ Rs. 2 lakhs, whichever is less); (10 times the gross monthly income or Rs. 10 lakhs, whichever is less if the collateral is equal to the loan amount)
- Best home loans for Non-Resident Indians who wish to own a residential property in India at an affordable rate of interest
- Available to persons of Indian origin having valid passports of neighbouring countries other than Bhutan, Nepal, Pakistan, Sri Lanka, China, Afghanistan, Bangladesh, and Iran
- Available to NRIs with a minimum monthly income of Rs. 10,000
* Note: All of the above home loan plans are made available to applicants solely at the discretion of Indian Overseas Bank Home Loan, taking into consideration the earning and repayment capacity of the applicant.
Documents Required for Indian Overseas Bank Home Loan
Getting an IOB Home Loan approved is relatively easy, as the bank requires only some general KYC documents as part of the application procedure. The Indian Overseas Bank home loan documents required list shared below and arrange for the same before applying for a housing loan scheme:
| Proof of Income |
|
| Other Required Documents |
|
| Proof of Income |
|
| Other Required Documents |
|
| Identity & Address Proof |
|
| Documents Related to Property |
|
Apply Home Loan Through BASIC Home Loan
Interest borrowers can proceed with the Indian Overseas Bank home loan apply online procedure in the following manner:
Apply Now on the BASIC Website
Proceed to the 'APPLY NOW' section on the BASIC Home Loan website.
Enter Your Details and Submit
Fill in the form by entering your name, contact number, and other required details, and submit the form.
Our Expert Will Reach Out to You
A BASIC Home Loan team representative will connect with you shortly to assist you through the entire home loan application process.
Talk to our Expert
- Neutral, AI-backed advice
- Compare 50+ lenders instantly
- Transparent process, Zero bias
By continuing, I agree with Basic Terms and Conditions and Privacy Policy
FAQ's
Ready to Find the Best-Fit Home Loan?
- Talk to Your Dedicated Loan Expert Today!
