Indian Overseas Bank Subhagruha-Top-up-Loan

CIBIL Score

• CIBIL score must be minimum 700

Loan Processing Charges

• Up to 0.50% of the loan amount

Features

• Minimum 12 EMI must be paid
• Completed 1 year from the date of loan
• Equitable mortgage has to be created on the security
• Satisfactory repayment behaviour of the borrower
• A/c should not be SMA1 and 2 in last 12 months
• Primary security of home loan should be extended for any other loan except HL and TOP up in previous lender.
• 7.75% of present Forced Sale Value at the time of availment of Top Up loans less the outstanding in the housing loan.
• In line with and up to the underlying HL A/c or 15 Years, whichever is higher subject to liquidation of the loan before the borrower attains the age of 70 years. However, the borrowers can opt for a lower tenor. No fresh/enhancement of Top-up facility will be sanctioned after the closure of linked HL
• Guarantor May or May Not. If Co-owner Join, If not the co-owner May opt for not Joining. Close Family members may be added plus income can be clubbed.
• Owner/Co-Owner Mandatorily Join the Top Up