Indian Overseas Bank NRI Home Top Up Loan

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Indian Overseas Bank NRI Home Top Up Loan

Top up your existing IOB NRI Home Loan with ease. Get extended tenure, no prepayment charges, and dual equity loan options.

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Details for Indian Overseas Bank NRI Home Top Up Loan

Indian Overseas Bank’s NRI Home Top Up Loan offers added financial support on your existing home loan. With a flexible tenure up to 15 years or aligned with your base loan, it ensures ease of repayment. Enjoy benefits like no prepayment penalties, separate EMIs, and the option to avail two equity loans simultaneously. This top-up loan is ideal for NRIs seeking additional funds while maintaining existing housing loan terms and conditions.

CIBIL Score

  • CIBIL score must be minimum 700

Loan Processing Charges

  • Up to 0.50% of the loan amount

Features

  • The maximum tenure of the Top up loan will be in line with the residual tenure of underlying home loan or 15 years whichever is higher, subject to liquidation of loan before the borrower attains age of 70 years. However, borrower can opt for a lower tenor.
  • Repayment period to be inline with and up to the underlying home loan account.
  • Upto two Home Equity Loans shall be allowed to exist together.
  • No Prepayment/Pre closure penalty.
  • EMI must be fixed for each loan separately and not to be clubbed. The EMI for the original Housing Loan cannot go below the originally committed instalment amount.
  • The LTV should be maintained as per stipulation for existing Housing Loan and proposed Top up Loan.

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Indian Overseas Bank NRI Home Top Up Loan 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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