IOB Personal Loan EMI Calculator

Indian Overseas Bank Personal Loan Calculator

Lowest EMI on Indian Overseas Bank Personal Loan - Rs. 2,260 per lakh
Last Updated 17th Jan 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

Indian Overseas Bank Personal Loan EMI Calculator Jan 2017

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 EMI 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

IOB personal loan EMI calculator - 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 Status, Branches

City Customer Care Number
Agra 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Ahmedabad 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Ambala 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Anand 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Aurangabad 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Bangalore 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Bhilai 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Bhilwara 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Bhiwadi 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Bhopal 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Bhubaneswar Cuttack 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Bikaner 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Chandigarh 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Chennai 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Cochin 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Coimbatore 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Dehradun 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Delhi 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Durg 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Faridabad 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Gandhinagar 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Ghaziabad 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Goa 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Greater Noida 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Gurgaon 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Guwahati 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Gwalior 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Hyderabad 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Indore 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Jabalpur 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Jaipur 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Jalandhar 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Jodhpur 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Kanpur 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Karnal 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Kolhapur 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Kolkata 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Kota 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Kozhikode 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Lucknow 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Ludhiana 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Madurai 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Meerut 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Mehsana 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Mohali Sas Nagar 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Mumbai 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Mussoorie 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Nagpur 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Nashik 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Noida 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Noida Extn. 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Panipat 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Patna 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Pondicherry 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Pune 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Raipur 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Rajkot 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Ranchi 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Rohtak 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Roorkee 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Salem 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Shimla 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Sonepat 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Surat 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Trichy 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Udaipur 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Vadodara 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Varanasi 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Vijaywada 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
Vizag 1800-425-4445, 044-2851-9490, mdd@iobnet.co.in
IOB Personal Loan EMI Calculator News - Jan 2017
27th Jun 16 Indian Overseas Bank Posts Rs 939 Crore Loss for March Quarter
Indian Overseas Bank reported a net loss of Rs 936.19 crore for the quarter ended March due to a sharp spike in bad loans, compared to a net profit of Rs 35.50 crore during the March quarter of 2014-15.. On an annual basis, Indian Overseas Bank reported an overall loss of Rs 2,897.33 crore in the during FY16 compared to a profit of Rs 454.33 crore during FY15
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