As part of its festive bonanza for retail customers, Indian Overseas Bank (IOB) announced fullwaiver of processing fee on vehicle and housing loans.

This facility will be available from October 3 to January 31 next year. These concessions are offered to attract more customers during ensuing festive season, a statement issued by IOB said.

The bank has a variety of schemes under housing loan for purchase/construction of house/flat and also for renovation/modifications in existing house including loans for NRI customers.

This public sector lender has developed an exclusive team to ensure quick disbursals of these retail loans by reducing the turnaround yime. IOB does not levy prepayment penalty on any of its retail loans if repaid before normal repayment date.

srivats.kr@thehindu.co.in

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