Indian Overseas Bank (IOB) has inked a Memorandum of Understanding (MoU) with National Housing Bank (NHB) for implementation of the Rural Housing Interest Subsidy Scheme (RHISS) of the ministry of rural development, Government of India.
The interest subsidy under the scheme is at 3% per annum for a loan amount of Rs 2 lakh with repayment period up to 20 years.
IOB is a pioneer in many fields - Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.
