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IOB Personal Loan EMI Calculator - Jun 2017

Last Updated 14th Jun 2017

Indian Overseas Bank Personal Loan Calculator

Lowest EMI on Indian Overseas Bank Personal Loan - Rs. 2,260 per lakh

Loan Tenure
Loan Amount (Rs.) 2 Years 3 Years 5 Years
100,000 Rs. 4,740 Rs. 3,355 Rs. 2,260
300,000 Rs. 14,220 Rs. 10,065 Rs. 6,780
500,000 Rs. 23,701 Rs. 16,775 Rs. 11,300
1,000,000 Rs. 47,401 Rs. 33,550 Rs. 22,600
Personal Loan EMI Calculator
Rs.

Factors affecting IOB Personal Loan EMI

  • Borrower age should be between 21 years to maximum 58 years.
  • Maximum personal loan amount offered by Indian Overseas Bank is upto Rs. 1,500,000.
  • Interest rates range from 12.70% to 15.25% depending upon customer profile, loan amount and other factors.
  • Processing fee in Indian Overseas Bank may be Rs. 204 per lakh of loan amount.

IOB Personal Loan EMI

  • Personal Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Indian Overseas Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With Indian Overseas Bank offering Personal Loans with loan tenure upto 5 years, the loan EMI can be as low as Rs. 2,260 per lakh, to make it more affordable and convenient to meet your personal needs. Rate of interest offered by Indian Overseas Bank are as low as 12.70%.
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

Indian Overseas Bank Personal Loan calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Indian Overseas Bank Personal Loan EMI is calculated:

In above formula,

P = Loan amount. This can range from Rs. 50,000 to Rs. 1,500,000

r = Rate of interest per month. Current rate is 12.70%

n = tenure in month. For Indian Overseas Bank, this can be 60 months

Personal loan EMI calculator IOB - How it works?

  • Indian Overseas Bank personal loan calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.
  • Indian Overseas Bank personal loan calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

Personal Loan EMI - EMI Changes in case of prepayment

    In case you prepay your personal loan, the outstanding balance on your personal loan reduces. IOB gives you two options:
  • Reduce your loan tenure and keep your personal EMI same
  • Reduce the amount of EMI and keep your loan tenure same
  • It is better to keep the EMI constant and reduce the loan tenure as you pay less interest to the IOB in this option.

Frequently Asked Questions on IOB EMI Calculator

What is the lowest EMI per lakh offered by Indian Overseas Bank on personal loan?

Indian Overseas Bank offers personal loan at 12.70% interest rate and hence lowest EMI on per lakh loan amount is Rs. 2,260.

Can I prepay my Indian Overseas Bank personal loan?

Indian Overseas Bank offers you an option of prepayment after 1 months at Nil prepayment charges.

Is there any processing charge on personal loan from Indian Overseas Bank?

Personal Loan from Indian Overseas Bank charges a processing fee of Rs. 204 per lakh.

Indian Overseas Bank Personal Loan EMI Calculator 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
Indian Overseas Bank Personal Loan EMI Calculator

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