iob_bank_subha_gruha

Last Updated:08/02/2026
Housing Loan Subhagruha
Repayment Period upto 30 Years
Repayment Period upto 30 Years
Cost of the House/Flat
75% to 90% of the Cost of the House/Flat
Lower Processing Charges
Lower Processing Charges
Affordable Housing Loans
Affordable Housing Loans
Flexible Repayment Options
Flexible Repayment Options
Attractive Interest Rates
Attractive Interest Rates
Minimal Documentation
Minimal Documentation
Instant Approval and Disbursal
Instant Approval and Disbursal
Expert Guidance
Expert Guidance
 

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  • 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.

1. For Salaried Individual: A permanent job with a minimum of 2 or 3 years service.

2. For Self-employed Professional: A minimum period of three years of activity in the related field.

The quantum of loan will be the lower of 90% of the Agreement Value or the LTV based on the Fair Market Value, subject to your repayment capacity

  • Interest Rate: Retail Credit Interest Rates (Click here)
  • Repayment Period: Repayable in equated monthly installments for a maximum period of 30 years.

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  • Concessions Offered on Home Loans during the period 18.05.2023 to 31.07.2023:
  • 100% waiver on Processing Charges
  • 50% waiver on Documentation Charges.

Purpose
  • TL for acquisition/construction of new/old flat up to two houses.
  • Age of the old flat/house should not exceed 25 years.
  • Scheme also permits loan for construction of additional rooms/first floor/second floor on the already owned houses Loan shall be considered for purchase of plot subject to the cost of plot.
  • Rural Area-Cost of the plot does not go beyond 30% of the eligible loan amount in semi urban and rural area.
  • Metro & Urban Area-60% of FMV of the land or 60% of purchase price or 60% of eligible loan amount, whichever is less.

Eligibility
  • Individual severally and as group of individuals having independent disposable income from salary/profession/agriculture/trade/business.
  • Salaried Class- Confirmed Service & Min 2 Years ITR for Loan & take home pay Norms or
  • Min 6 Months latest Salary Slip,
  • Self Employed/Businessman/Professional

Age Criteria
  • Maximum age at the time of availing the loan should not exceed 60 years
  • If the applicant has crossed 55 years, his/her spouse or legal heirs should be included as obligant
  • Loan to be liquidated before 1st applicant attains 70 Yrs

Arrival of

quantum of

loan for new

flat/house based on

LTV ratio

The value of the property to be purchased shall be arrived based on the lower of the following values:

(i) Cost of the house/flat, excluding stamp duty, Registration charges and other documentation charges, mentioned in agreement to sale

AND

(ii) Current Fair Market value as per the latest valuation report.

Quantum for

Old

house/flat

based on

LTV ratio

The value of the property to be purchased shall be arrived on the lower of the following:

(i) Cost of the house/flat mentioned in the agreement to sale.

AND

(ii) Fair market value as per the latest valuation report.

Repayment

Maximum 30 years including maximum holiday period

Holiday

Period
  • New House Flat -18 months from the date of disbursement of first instalment of loan or Completion of construction whichever is earlier. Old houses/flat -up to 3 months.
  • Purchase of Flat Under Construction for Individuals.
Depending on No. of Floor Maximum Moratorium

Upto 7 Floors

24 Months

>7 &<= 14

30 Months

>14 &<= 21

36 Months

>21

48 Months

Max 36 Months- Branch

Discretion

Max 48 Months-RLCC (Esp.

High Rise Building)

Download the Subha Gruha Application Form: (Click here)

To Apply Online: (Click here)