Indian Overseas Bank (IOB) offers home loans at one of the lowest interest rates offered by banks in India, with the bank’s home loan EMI starting from just Rs. 669 per lakh.
IOB’s Home Loan EMI is calculated based on the loan amount, tenure of loan and rate of interest. It is always good to know the IOB Home Loan EMI before applying for a loan. The IOB home loan EMI calculator will help you to estimate your EMI accurately. The current IOB home loan interest rate stands at 7.05%.
What is the EMI for Rs.10 lakhs home loan in IOB?
With the current interest rate at 7.05%, one can calculate the EMI for an IOB home loan through the IOB home loan EMI calculator easily. For Rs. 10 lakhs loan amount, the amount of EMI for varying loan tenure at 7.05% interest rate is shown below.
|
IOB Home Loan Amount (Rs.) |
Home Loan Tenure (Years) |
EMI (Rs.) |
|
|
10,00,000 |
7.05% p.a. |
5 |
19,825 |
|
10,00,000 |
7.05% p.a. |
10 |
11,637 |
|
10,00,000 |
7.05% p.a. |
15 |
9,016 |
|
10,00,000 |
7.05% p.a. |
20 |
7,783 |
A borrower can check the various EMIs, examples of which are shown above, to choose the best IOB Home Loan EMI option to suit his/her home loan requirements and financial capability to repay the home loan in a timely manner. The IOB Bank home loan EMI calculator makes it very easy to calculate your home loan EMIs for your specific loan amount.