IOB Personal Loan EMI Calculator - Mar 2017

Indian Overseas Bank Personal Loan Calculator

Lowest EMI on Indian Overseas Bank Personal Loan - Rs. 2,260 per lakh
Last Updated 27th Mar 2017
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

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.
Indian Overseas Bank Personal Loan EMI Calculator
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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. 2260 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?

  • This calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.
  • This 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 Login, Branches

City Customer Care Number
Agra 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Ahmedabad 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Ambala 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Anand 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Aurangabad 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Bangalore 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Bhilai 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Bhilwara 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Bhiwadi 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Bhopal 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Bhubaneswar Cuttack 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Bikaner 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Chandigarh 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Chennai 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Cochin 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Coimbatore 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Dehradun 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Delhi 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Durg 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Faridabad 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Gandhinagar 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Ghaziabad 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Goa 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Greater Noida 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Gurgaon 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Guwahati 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Gwalior 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Hyderabad 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Indore 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Jabalpur 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Jaipur 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Jalandhar 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Jodhpur 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Kanpur 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Karnal 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Kolhapur 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Kolkata 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Kota 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Kozhikode 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Lucknow 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Ludhiana 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Madurai 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Meerut 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Mehsana 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Mohali Sas Nagar 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Mumbai 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Mussoorie 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Nagpur 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Nashik 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Noida 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Noida Extn. 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Panipat 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Patna 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Pondicherry 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Pune 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Raipur 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Rajkot 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Ranchi 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Rohtak 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Roorkee 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Salem 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Shimla 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Sonepat 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Surat 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Trichy 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Udaipur 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Vadodara 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Varanasi 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Vijaywada 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
Vizag 1800-425-4445, 044-2851-9490, mdd [at] iobnet [dot] co [dot] in
IOB Personal Loan EMI Calculator News - Mar 2017
24th Mar 17 Punjab National Bank launches new branch in Jammu district
PNB with its aim to spread across the rural areas has successfully inaugurated a new branch at Khour, the border town of Jammu. Chief official of the bank has assured the local population of the city to provide best banking services including the loan facilities including personal loans for agricultural and allied activities. With the new branch, the bank has reached to total of 105 branches in the state of Jammu and Kashmir.
23rd Mar 17 ICICI Bank opens new branch in Guwahati
ICICI Bank has opened a 20th bank branch in Guwahati. The bank branch will offer comprehensive range of banking services including savings account, deposits and loans such as auto, gold, personal and business loan and credit cards. ICICI Bank has 4,504 branches as on 31st December, 2016 spread across the country.
23rd Mar 17 GE Capital to sell its stake in SBI credit cards joint venture
GE Capital, co partner of India’s leading bank State Bank of India in credit card joint venture is set to sell its 26 percent stake. The stake will be purchased by the leading private equity firm Carlyle Group for around 300 million dollars. The decision of selling the stake came after SBI has decided to infuse Rs. 1,160 crore to buy partial stakes of GE Company in two of its entities.
18th Mar 17 Deutsche Bank considering sale of Indian retail business
Deutsche Bank is planning to sell its retail business of India. The bank plans to utilize the sale proceeds for expanding its capital base. Deutsche Bank had sold part of its mortgage business in India in 2010 and a small unit of asset management in 2015. The bank has total assets of Rs. 693 billion and earned a profit of Rs. 23 billion for the year ending March 2017.
18th Mar 17 Card business of Citibank India grows on continuous technological innovations
Citibank India has been able to build a successful card business with its strong focus on continuous technological innovations. The bank has launched Pay in Points feature which enables customers to make payment via reward points and NoRedirect initiative that helps customers to directly make a payment at merchant’s website via OTP.
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