Indian Overseas Bank Home Improvement Scheme

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Indian Overseas Bank Home Improvement Scheme

Upgrade your home with IOB’s Home Improvement Loan—easy terms, up to 15 years tenure, and secure financing with flexible mortgage options.

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Details for Indian Overseas Bank Home Improvement Scheme

The Indian Overseas Bank Home Improvement Scheme helps homeowners renovate or repair their property with ease. Offering up to 15 years tenure and a margin of 25%, this loan ensures flexible repayment. The mortgaged property must be the one being renovated or another of higher value. Competitive processing charges apply, subject to change. Whether upgrading interiors or fixing essentials, this scheme provides reliable support for enhancing your living space, backed by IOB’s trusted financial services.

CIBIL Score

  • CIBIL score must be minimum 700

Loan Processing Charges

  • Up to 0.50% of the loan amount

Features

  • Margin 25%
  • Tenure - Maximum 180 Months
  • Security - The house/flat which is being repaired/renovated should be mortgaged to the bank. If this property cannot be mortgaged for any reason, any other property in the name of the borrower with a market value twice that of the loan amount is to be mortgaged.
  • Processing Charges - As applicable from time to time. For up-to-date Processing Charges, you are requested to kindly visit your nearest IOB Branch.

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Indian Overseas Bank Home Improvement Scheme EMI Calculator

Principal amount

₹1,00,000

Interest amount

₹542

Total amount payable

₹1,00,542

Your Monthly EMI is ₹8,379
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