Indian Bank, IOB launch special drive for home loans

PTI, 3 Jan 2014

In an attempt to target prospective home buyers, public sector lenders – Indian Bank and Indian Overseas Bank are offering home loans at interest rates of 10.20 and 10.25 per cent, respectively.

“Indian Bank is offering home loans at 10.20 per cent across various slabs irrespective of the tenure for people looking forward to build homes,” the city-based bank said in a statement.

Similarly, Indian Overseas Bank, as part of targeting women customers, is offering housing loan at 10.25 per cent, irrespective of the tenure and loan amount under the banks’ Subha Gruha scheme.

For other borrowers, the interest rates have been fixed at 10.25 per cent for loans up to Rs 75 lakh and 10.50 per cent for loans above Rs 75 lakh, it said.

Both offers from the two banks are valid up to March 31, 2014, the statement added.

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