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Last Updated on: 04/07/2025

Repayment
Repayment upto 15 Years or Borrower attending age of 70 Years which ever is earlier.
Cost of the House/Flat
Minimum Margin: 25% on the Accepted Value of Plot.
Lower Processing Charges
Construction Time Frame upto 5 Years
Affordable Housing Loans
Zero Prepayment Charges (Post-Construction)
Flexible Repayment Options
Minimal Documentation
Attractive Interest Rates
Lower Processing Charges

IOB Easy Plot

  • • One loan per borrower

What Kind of Plots Are Eligible?

  • Approved Residential Plots/Sites from State Development/Town Planning Development Authorities & other Statutory Authorities of Central /State Govt.
  • Approved by Govt development authorities (DDA, JDA, HUDA, etc.)
  • RERA-approved Projects
  • Second sale allowed if SARFAESI compliant
  • Plot must be Marketable, Ascertainable, Stable and Transferable.

Under the Quantum of loan Tab:

Rs. In Lakhs

Parameter Property Location
Rural Semi Urban Urban/Metro
Minimum Nil 10.00 10.00
Maximum Nil 100.00 300.00

Margin 25% on the Accepted value of Plot

Under the Interest Rates & Repayment PeriodTab:

  • Interest Rate: Retail Credit Interest Rates (Click here)
  • Moratorium/Holiday Period - Nil
  • Repayment Period: Maximum 15 Years or Prime Borrower attaining the age of 70 Years.

Purpose of Loan
  • Purchase of Approved Residential Plots/Sites from State Development/Town Planning Development Authorities or from any other body constituted by the Government for distribution of sites.
  • Purchase of Approved Residential Sites/plots from statutory authorities of Central/ State Governments, local authorities either exclusively or in partnership with private sector.
  • Private Colonies providing such sites /layouts are duly approved by the statutory authority of the State Government and where registrations can be effected. Further the plots in the colonies approved by Govt. Authorities along with approved maps and RERA approved projects directly from private entities/reputed Pvt builders and other Real Estate Companies or under second sale.
  • Compliance of RERA registration to be ensured wherever applicable.
  • The proposed Plot should be SARFAESI Compliant.

Target Group/

Eligibility

Individual Borrowers including NRIs and our Bank Staff/Ex- Staff.

  • If the Applicant is a salaried employee, salary slip or salary certificate from employer for the past 6 months. Veracity of the same to be verified from the Employer. The applicant/s must be in confirmed service.
  • If the Applicant is Self-employed, he/she should have been in the same activity for the past years - Minimum 2 years of ITR to be obtained

Age

Minimum Age: 21 years

Maximum Age: 60 years. In case of applicants having crossed the age of 55 years, his/her spouse or other legal heir should be included as co-applicant. Details of Legal heirs to be obtained.

Quantum of Loan

Rs.10 lakhs to Rs.3 Crs

Margin

25%

Takeover

Takeover of loan from other lender shall not be considered under the scheme.

Processing

& Documentation charges

Staff/Ex Staff : No bank charges of any type

Non Staff:

Processing Charge - 0.50% maximum Rs.25,000/-

Documentation Charges: As applicable

Prepayment Charges

NIL

Penal Charge

In case of Overdue, 2% on overdue amount will be collected for the number of days of delay + Applicable GST

In case of pre-closure without construction of House, 2% Penal Charges on Loan Amount or Outstanding whichever is higher, shall be collected +applicable GST.

Security

Equitable Mortgage of the Title Deed and other Documents as per Legal Opinion followed by Memorandum of Deposit of Title Deed wherever applicable. CERSAI Registration to be done.

Legal & Valuation Report

Legal Opinion & Valuation Report to be obtained from Bank's Empaneled Lawyer & Valuer.