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Last Updated on 18/11/2022
Reverse Mortgage Loan

A unique scheme which takes care of the financial needs of senior citizens owning self-occupied residential house/flat for leading a decent life during their twilight days.


Senior citizens completed 60 years of age owning a self-acquired, self-occupied residential property (house or flat) located in India with clear and transferable title, free from any encumbrance.


  • Medical expenses or maintenance of family
  • Meeting any other need
  • For up gradation, repair, renovation or extension of the house property or any other expenses relating to maintenance of the property.

Quantum of Loan

The loan amount will depend on market value of the property, age of the borrower.

The minimum amount is Rs. 5.00 Lacs.


75% of the market value of the mortgaged property. 45% of this eligible loan amount is dispersed to the borrower as monthly annuity with maximum cap of Rs. 50,000/- and the remaining 55% is apportioned towards interest accumulated during the loan period.

Rate of Interest

Retail Credit Interest Rates (Click here)


Uniform loan period of maximum 15 years

No Pre payment charges


Registered memorandum of deposit of title deeds of the house (residential) property against which the loan is granted.

Commercial property will not be accepted as security.

Processing Charges: For up to Date Processing Charges, You are requested to kindly visit your nearest IOB Branch.