Views : XXXXX |


Loans
 
  Who can avail

  • Citizen above the age of  18 years .
 
  Eligibility Criteria

  • Groups of individuals,Members of Co-operative Societies ,Individuals not more than 55 years of age.
  • However Individuals may be considered at the age of 60 provided their legal heirs join along with them.
  • Loan must be liquidated before attaining 70 Years of age.
 
 Purpose

  Loans for Two wheelers / Consumer Durables  
 Quantum of loan :

Available range as applicable
 Margin :

Margin is minimum of 15% to 25 % of outlay (Project Cost)  .
 Rate of Interest :

  •     BPLR +1.25 %
 Repayment :

  • Repayble in 60 EMI with no Holiday Period .
  •     
 Security :

  • Hypothecation of vehicle purchased out of loan and minimum liquid security of 40% of the loan amount
 Processing Fee

  • A flat rate of 1% of the loan amount. There is no hidden charge..
  • This is subject to change from time to time without prior intimation.
 
  Documents Required
  • An application form

  • Salary certificate as a proof of income (for employed individuals)
  • Proof of income (for professionals, business people etc.)

  • Agreement for sale of house/flat

  • Proof of membership (for co-operative societies etc.)
  • Proof for experience in the line of activity (for professionals, business people etc.)
  • Estimates for Construction/Valuation Report for Acquisition/Legal opinion on the Property from Bank approved Engineer/Lawyer
  • Download the application form.Save it on your computer, print it out and send it to the nearest/convenient IOB branch for Processing
  • While all efforts have been made to update the information, constituents are requested to contact the branches for latest details.
 
 
Interest Subvention

Not Applicable
 
For Form goto Forms Downlod dection .For further details, contact the nearest Branch