Indian Bank, IOB launch special drive for home loans

Both banks are offering home loans at 10.2% and 10.25% respectively

In an attempt to target prospective home buyers, public sector lenders -- Indian Bank and Indian Overseas Bank -- are offering home loans at interest rates of 10.20 and 10.25%, respectively.

"Indian Bank is offering home loans at 10.20% across various slabs irrespective of the tenure for people looking forward to build homes," the city-based bank said in a statement.

Similarly, Indian Overseas Bank, as part of targeting women customers, is offering housing loan at 10.25%, irrespective of the tenure and loan amount under the banks' Subha Gruha scheme.

For other borrowers, the interest rates have been fixed at 10.25% for loans up to Rs 75 lakh and 10.50% for loans above Rs 75 lakh, it said.
 
Both offers from the two banks are valid up to March 31, 2014, the statement added.