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  • IOB NRI Home Loan

    Indian Overseas Bank (IOB) offers you the option of availing a NRI home loan. The lender offers the loan at affordable interest rates with the repayment period going up to a maximum of 15 years.

    Interest Rates

    Loan Tenure Up to 15 years
    Interest rates 7.05% p.a. to 7.30% p.a.
    Processing fees 0.57% of the loan amount (Subject to a maximum of Rs.15,000


    In order to be eligible for availing a NRI home loan from Indian Overseas Bank, you need to fulfil the listed below criteria:

    • Having a monthly salary that is equivalent to Rs.10,000.
    • NRI/PIO holding an Indian Passport or of any other country (except Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, and Bhutan).


    For Salaried For Self-employed
    Identity Proof Identity Proof
    Address Proof Address Proof
    Passport size photographs Passport size photographs
    Salary Slips --
    Bank statements of last six months Bank statements of last six months

    Features of IOB NRI Home Loan

    Some of the features are listed below:

    • The loan can be availed for the purpose of buying, building, and renovating your home.
    • Can avail a maximum of 80% of the cost of the house as loan (for buying or building a new house) and Rs.15 lakh for renovating the house.
    • Repayment can commence after 6, 18, and 3 months after receiving the loan in case the house in brought, built and renovated.
    • The loan can be repaid in a maximum of 15 years.


    1. Do I need to provide any security for availing the loan?

      Yes, you need to provide some sort of security in order to avail the loan.

    2. Can close relatives of the applicant repay the loan?

      Yes, repayment of the loan can be done by close relatives of the applicant.

    3. Can I enjoy the holiday period if I take the loan for renovation of my house?

      You can enjoy the holiday period of 3 months if you take NRI home loan for renovation of the house.

    4. How can I apply for the loan?

      All you need to do is download the application form, get a printout, fill it up and submit it at the nearest branch of the bank for processing.

    5. If the house is rented, will the rental income be adjusted towards loan instalments?

      Yes, rental income should be adjusted towards loan instalments even though it is more than the prescribed monthly instalment if the house is rented out.


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