Indian Overseas Bank Home Loans are available for purchase, construction, renovation or repair of houses at floating as well as fixed rate of interest. IOB home loan rate under fixed rate option varies according to the amount of loan as well as repayment period. For instance, a loan of Rs 30 lakh taken for a period of 5 years would carry an interest rate of 9.5 percent. If the period of repayment is increased to 10 years, the rate would become 10 percent per annum.
IOB home loan rate, under floating rate of scheme, also varies according to the amount of loan and repayment period. For a loan of Rs 30 lakh, the floating rate of interest for a maximum repayment period of 5, 10 and 20 years would be 8.75, 9.00 and 9.25 percent respectively. | 
