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Sl. No.

Name of Scheme

Floating Interest Rate % p.a.

Effective date

Pushpaka - Loan for purchase of new vehicles



Sahayika - Loan to meet social financial commitments



Sanjeevini - Loan to medical practitioners for setting up nursing homes/hospitals and for purchase of equipments



Pensioners' Loan Scheme - loan to pensioners for meeting immediate emergency needs



Home Dcor - loan for furnishing your home.



Liquirent - loan against future rent receivables



Akshay - loan against life policies of LIC and private insurers approved by IRDA



Vidya jyothi - loan for pursuing higher education


up to Rs.4 lac >Rs 4 lac and up to Rs. 7.5 Lacs Above Rs.7.5 lacs 9 Clean Loan - loan to employees of reputed organisations to meet personal expenditure 10 Easy Trade Finance - Hassle free working capital finance and term loan to retail traders

12.25 13.50 13.25 15.25 18.02.2013

Working Capital : 13.25 Term Loan : 13.75


Housing Loans (for purchase/construction/repair/renovation ) Floating rates (based on Base Rate) w.e.f. 18/02/2013 Payment Options Repayment * Up to 5 years Interest rates % p.a. > 5 to 10 yrs More than 10 yrs

Loan Amount Up to Rs.30 lakh Above Rs.30 lakh & up to Rs.75 lacs Above Rs.75 lacs 10.25 10.50 10.75 10.25 10.50 11.00 10.25 10.50 11.25

Note: 1. 0.50% interest concession is allowed for loans above Rs. 30 lakhs, where the margin offered is 25% and more ** ** The above concessions will be extended subject to the rate not falling below the Base rate, which is at present 10.25%.

Eligibility 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. For salaried individual A permanent job with a minimum of 2 or 3 years service For self-employed professional A minimum period of three years of activity in the related field

Value Addition We are extending Vehicle Loan to our existing Housing Loan Borrowers (Minimum One Year Regular

Repayment) with the following concessions:

0.50% concession in rate of interest 50% concession in applicable rate of Processing Charges.

Purpose To buy, build or renovate flat/house. Quantum of loan A maximum of 80% of the cost of the house/flat excluding Registration and Documentation charges. The amount depends on your age and repayment capacity. Margin The minimum margin is 20% of the estimated cost (including the cost of the land) for new as well as old houses/flats. Rate of interest Please click Retail credit interest rates Repayment Repayable in equated monthly installments for a maximum period of 30 years. No Pre payment charges. Holiday period A maximum holiday period of 18 months from the date of first disbursement or completion of construction whichever is earlier. In case the house is purchased, the holiday period is 3 months. Security First mortgage on the property to be bought, constructed or renovated The land should be in the applicant's name or jointly with spouse who should be a co-obligant Should have a clear and marketable title over the property should have comprehensive insurance on the property for adequate value Additional security in the form of NSC, LIC, Units of UTI will also be accepted Processing charges A flat rate of 0.58% of the loan amount- maximum of Rs. 10,190/- 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.

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