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Indian Overseas Bank Personal Loan

(Updated on 08.05.2019) Indian Overseas Bank Personal Loan – Get instant Quick & Easy Approval from Indian Overseas Bank. Lowest Interest Rates, Eligibility, Documents &  Processing Fee. 

Indian Overseas Bank Personal Loan – QUICK, EASY & INSTANT APPROVAL ONLINE

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Disclaimer: We do not provide Personal Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

Indian Overseas Bank Personal Loan

Indian Overseas Bank Personal Loan is popularly known as ‘Indian Overseas Bank Clean Loan’, skillfully designed to meet any genuine financial requirement of borrower at any point of financial crisis. IOB Personal Loan can be availed at the most affordable interest rates & at low processing fee. Check out your personal loan eligibility for the best Personal Loan with IOB Personal Loan Eligibility Calculator.

Indian Overseas Bank (IOB) has the perfect IOB Housing Loan at enticing competitive interest rates for all NRI/ domestic borrowers to have a house/flat of their own.

Indian Overseas Bank Personal Loan Interest Rates

Interest Rate 12.75% to 15.25%
Processing fee range 1.01% to 1.10% of loan amount
Loan Amount Min. Rs. 1 lakh to Max. Rs. 15 lakhs
Tenure 12 months to 60 months

Indian Overseas Bank Personal Loan EMI Calculator

Indian Overseas Bank Personal Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Personal loan emi within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

Indian Overseas Bank Personal Loan Eligibility

  • Employees in Government, Public Sector Undertakings, reputed private enterprises, firms, companies etc. and confirmed in service.

  • The take home pay, after deduction of the proposed loan installment should be more than 50% of the gross pay.

  • LIC agents are also eligible to apply for the loan subject to conditions.

Indian Overseas Bank Personal Loan Documents Required

  • Application form, Salary certificate of applicant and guarantor with deduction particulars,

  • Undertaking letter from employer to deduct monthly instalment and recover the dues from terminal benefit in case of necessity.

  • Other documents are also required to submit as per bank’s norms

Personal Loan Prepayments: Minimum loan repayment/foreclosure charges

Personal Loan FAQ

Q1) What is the maximum loan tenure of Indian Overseas Bank personal loan?
The maximum loan tenure of Indian Overseas Bank personal loan is 60 months.
Q2) Can an applicant choose between fixed or floating interest rate?
Yes, an applicant has the option to avail Indian Overseas Bank personal loan with either a fixed interest rate or floating rate.
Q3) Does the borrower has the option to prepay the loan amount?
Yes, the borrower has the option to prepay Indian Overseas Bank personal loan amount without any prepayment penalty.
Q4) Do an applicant needs to provide security to apply for Indian Overseas Bank personal loan?
No security is required to apply for Indian Overseas Bank personal loan.

LATEST NEWS

1) Indian Overseas Bank makes 0.05% hike in MCLR across all tenures effective from 10th September, 2018 onwards. MCLR for One-Month, Three-Months and Six-Months Tenure has been fixed to 8.20%, 8.40% and 8.50% respectively. New MCLR for One-Year Tenure has been fixed at 8.70% as against existing 8.65%. The Bank’s Two-Year MCLR has been revised to 8.80% whereas Three-Year MCLR has been increased to 8.90%. Indian Overseas Bank has not increased its MCLR Rate for Overnight Tenure.