To be eligible for an Indian Overseas Bank (IOB) Subha Gruha Home Loan, you must meet the following criteria:

Individual Applicants:

• Age: Up to 55 years old. However, individuals can be considered up to 60 years if their legal heirs join them as co-applicants, and the loan must be liquidated before the applicant reaches 70 years of age.

• Employment: Salaried individuals should be in permanent employment with at least 2-3 years of service. Self-employed individuals should have at least 3 years of experience in the relevant field.

• Minimum Income: IOB does not specify a minimum income requirement, but your income needs to be sufficient to afford the loan repayments and meet the bank's loan-to-income (LTI) ratio requirements. Typically, the LTI ratio should not exceed 50%.

• Credit Score: Maintain a good credit score to improve your chances of loan approval.

Additional Eligibility:

• Type of Borrower: Individuals, groups of individuals, and members of cooperative societies are eligible.

• Property Location: The property must be located in India.

• Property Type: IOB Subha Gruha loans can be used for purchase of apartments, independent houses, plots for construction, or renovation of existing properties.

• Property Value: The maximum loan amount depends on the property's value and your income. Typically, IOB offers up to 90% of the property value for loans for ready-to-move-in homes and up to 75% for loans for land purchase or construction.

Documents Required:

• Application form

• Proof of identity and address

• Proof of income (salary slips, ITRs, business income proof)

• Property documents (agreement of sale, construction estimates, property tax receipts)

• Bank statements

• Photographs

• Signature verification

Additional Notes:

• IOB may have additional eligibility criteria or documentation requirements depending on your specific circumstances.

• You can check the detailed eligibility criteria and documentation requirements on IOB's website: https://...

• It's always best to contact IOB directly to discuss your specific situation and confirm your eligibility for a Subha Gruha Home Loan.