Indian Overseas Bank, a favorite bank of resident and non-resident Indians, offers home loans under Subha Gruha scheme. The loan is available at a minimum margin of 20 percent of the estimated cost for buying new as well as old houses. Moreover, Indian Overseas Bank provides housing loans for groups of individuals and members of co-operative societies. An applicant must not be more than 55 years of age at the time of applying for the loan under the scheme.
Along with the application form, the borrowers need to submit documents pertaining to different aspects of eligibility criteria, such identity, residence proof and income proof. The documents to be submitted are salary certificate or other proof of income. agreement for sale of house, proof of experience in the line of activity, proof of membership, estimates for construction and other related reports. | 
