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IOB Business Loan Interest Rate Calculator - Feb 2017

Last Updated 26th Feb 2017

Indian Overseas Bank Business Loan Interest Rates

Self Employed
Interest Rate 14.90% - 15.25%
Lowest EMI Rs. 2,374 per lakh
Tenure From 12 months to 60 months
Loan Amount Min Rs. 50,000 and Max Rs. 1,000,000
Processing Fee Rs. 204 per lakh
Part Prepayment, Charges Allowed after 1 EMI's,
Early Foreclosure, Charges Allowed after 1 EMI's, Nil prepayment charges

Apply Business Loan @ 13.50%*

Rs.
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MyLoanCare

Indian Overseas Bank Business Loan

Indian Overseas Bank gives the facility of business loan to the people who need finance to expand their business. There are some benefits of taking business loan from Indian Overseas Bank:

  • You can prepay part of your loan anytime after paying 1% prepayment charges
  • You can foreclose your entire Business loan anytime after paying the forclosure charges
  • Indian Overseas Bank has over 3,388 branches in India where you can avail service

Business Loan IOB

Business loan interest rates offered by Indian Overseas Bank are fixed as well as floating

  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in Indian Overseas Bank benchmark rate and should be chosen only if you believe that the rates will not hike in future
  • In contrast to this are floating rates which changes with a single change in Indian Overseas Bank benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates

IOB Interest Rate depends upon

  • Loan amount: Business loan rate in Indian Overseas Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • CIBIL Score: Indian Overseas Bank offers business loan at higher interest rate if your CIBIL score is poor or vice versa
  • Monthly Revenue: Indian Overseas Bank will avail you business loan at lower interest rate if you have higher monthly revenue
  • Time in Business: Indian Overseas Bank offers business loan at lower rates if you are doing business since long time

Business Loan Charges

Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Indian Overseas Bank allows prepayment of business loan after paying 1 EMI’s with prepayment charges

Processing Fee- Indian Overseas Bank asks for a processing fee of Rs. 204 per lakh of loan amount with applicable service tax

IOB Business Loan EMI Calculator

Indian Overseas Bank Business Loan EMI is a fixed amount that you pay each month towards the repayment of your business loan till the end of tenure. Lowest EMI offered by Indian Overseas Bank is 2,374 per lakh loan amount. Business loan EMI of Indian Overseas Bank depends on factors like:

  • Interest Rate: Higher the interest rate, higher will be the EMI. For a 60 months business loan from Indian Overseas Bank at interest rate of 14.90% per annum, EMI will be Rs. 2,374 per Rs. one lakh loan amount. At interest rate of 15.25% for the same loan, the EMI will be Rs. 2,392
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At interest rate of 14.90% per annum, the EMI on Indian Overseas Bank business loan would range from Rs. 9,021 to Rs. 2,374 for loan tenure ranging from 12 to 60 months
  • Amount Borrowed: Indian Overseas Bank Loan EMI will be high if you apply for a high loan amount. For amount borrowed 50,000, the EMI at 14.90% for 60 months would be 1,187. Similarly for amount borrowed 1,000,000, the EMI at 14.90% for 60 months would be 23,737.

What are the benefits of calculating business loan EMI?

  • Business loan EMI calculator of Indian Overseas Bank helps you to calculate your monthly EMI at different rate of interest
  • Indian Overseas Bank EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

IOB Business Loan Eligibility Calculator

Business loan eligibility criteria Indian Overseas Bank

Eligibility of Business loan in Indian Overseas Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are

  • Profitability: Business loan eligibility significantly depends upon profitability status and future prospects of your business.
  • Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. Indian Overseas Bank requires minimum business track record of 60 months. and bank statement for minimum 6 months will be required by Indian Overseas Bank
  • CIBIL Score: When checking eligibility for business loan, Indian Overseas Bank will look at the complete CIBIL report. Indian Overseas Bank will check your repayment history for all current and past loans and credit cards.

Business Loan IOB documents required

  • Address proof of individual: Aadhar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills.
  • Identity proof of individual: Passport, Driving License, PAN Card, Aadhar Card, Voter’s ID Card
  • Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
  • Bank statement of last 6 months

Compare IOB Business Loan

IOB Business Loan in India

Indian Overseas Bank Business Loan Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Ahmedabad 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Ambala 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Anand 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Aurangabad 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Bangalore 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Bhilai 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Bhilwara 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Bhiwadi 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Bhopal 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Bhubaneswar Cuttack 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Bikaner 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Chandigarh 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Chennai 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Cochin 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Coimbatore 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Dehradun 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Delhi 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Durg 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Faridabad 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Gandhinagar 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Ghaziabad 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Goa 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Greater Noida 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Gurgaon 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Guwahati 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Gwalior 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Hyderabad 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Indore 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Jabalpur 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Jaipur 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Jalandhar 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Jodhpur 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Kanpur 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Karnal 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Kolhapur 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Kolkata 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Kota 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Kozhikode 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Lucknow 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Ludhiana 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Madurai 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Meerut 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Mehsana 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Mohali Sas Nagar 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Mumbai 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Mussoorie 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Nagpur 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Nashik 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Noida 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Noida Extn. 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Panipat 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Patna 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Pondicherry 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Pune 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Raipur 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Rajkot 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Ranchi 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Rohtak 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Roorkee 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Salem 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Shimla 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Sonepat 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Surat 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Trichy 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Udaipur 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Vadodara 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Varanasi 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Vijaywada 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in
Vizag 1800-425-4445, 044-2851 9639, mdd [at] iobnet [dot] co [dot] in

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