What are Indian Overseas Bank Home Loan Reviews?

I've had an Indian Overseas Bank house loan for longer than three months so I can tell you my own experience by way of this IOB Home Loan review. Directly from the bank, I received an offer and a loan in the sum of 20L with a 20-year term was approved. There is no processing fee and an interest rate of 8.5 per cent was stated. I was also told that there are pre-closure and partial payment options. It took them only 1.5 months to approve the loan. And I can say in my review of IOB Home Loan that their support team is excellent. The Indian Overseas Bank employees responded to me extremely well. They gave me thorough information about my house financing. It is commendable how well-mannered and kind they are when dealing with customers. I am quite satisfied with their service.

I obtained a house loan from an Indian bank, but I still don't understand how the loan transactions worked. My EMI is Rs. 7000, although I typically pay Rs. 10,000 each month; yet, the total amount due over the course of the 12 years is way more than it should ideally be. I am a very frustrated customer and I have also read many Indian Overseas Bank Home Loan reviews that state a similar situation to mine.

As a result of the service difficulty and the numerous hidden fees in IOB, I had to perform a balance transfer from IOB. I was making my loan payments on time, but the bank started adding more fees. When I queried the bank staff about these fees, they had no explanation for me. IOB needs to significantly enhance their customer care, and the web portal needs to be user-friendly too.

I took a home loan from Indian Overseas Bank and ₹39 lakhs was the total loan amount granted, with an 8% interest rate applied. The EMI is 12000 per month. I signed a contract for a 25-year term. As they are offering the best interest rate when compared to other banks, I can suggest this bank for a mortgage.

Due to timely document collection and disbursement, the customer service and response were excellent. The post-loan services went smoothly as well. The interest rate and fees are also minimal. You can also go through another review on IOB Home Loans and I am sure you will find similar responses.