MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹1,000* on Personal Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Compare Indian Overseas Bank vs PNB Personal Loan

Download Comparison
Bank
Interest Rate
Interest Rate
10.80% - 10.80%
8.70% - 14.25%
Processing Fees
Processing Fees
upto 3% of the loan amount
1.8% + Taxes
Loan Amount
Loan Amount
₹ 50,000 to ₹ 15 Lakh
₹ 50,000 to ₹ 15 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,164
₹ 2,061
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 0 months at Nil prepayment charges
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at Nil prepayment charges
Allowed after 0 months at Nil prepayment charges
Eligible Age
Eligible Age
21 to 58 Years
21 to 58 Years
Minimum Income
Minimum Income
₹ 20,000
₹ 30,000
Current Work Experience
Current Work Experience
12 Months
NA
Total Work Experience
Total Work Experience
36 Months
NA
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
Add Bank

Compare Personal Loan EMI of Indian Overseas Bank and PNB

Loan Amount Indian Overseas Bank PNB
₹ 1 Lakh ₹ 2,164 ₹ 2,061
₹ 5 Lakh ₹ 10,821 ₹ 10,307
₹ 10 Lakh ₹ 21,643 ₹ 20,613
₹ 12 Lakh ₹ 25,971 ₹ 24,736

Which is a better bank for Personal Loan – PNB or Indian Overseas Bank?

PNB offers lower Personal Loan EMI at Rs. 2061 for 60 Months compared to Indian Overseas Bank with a minimum EMI of Rs. 2164 for 60 Months. In addition, average customer ratings for PNB is currently at /5.0, making it a good choice for taking a Personal Loan.

How does PNB Personal Loan compare with Indian Overseas Bank Personal Loan?

It is important to make a detailed comparison of PNB and Indian Overseas Bank on all loan terms and conditions to understand their differences and make an informed decision. Keep in mind that each bank’s scheme has its pros and cons that have to be evaluated before choosing the best offer. Some of the key results of the comparison between the two banks are:

  • Lowest Interest rate of PNB Loan is 8.70%, which is lower than the lowest interest rate of Indian Overseas Bank at 10.80%. Hence, PNB is offering a cheaper loan option.
  • Compared to other Personal Loan charges such as processing fees, Indian Overseas Bank charges a processing fee of upto 3% of the loan amount, while PNB charges a processing fee of Upto 1.8% + Taxes.
  • One feature that makes Personal Loan a better option is the foreclosure facility. PNB gives the option to close the loan after Zero months at Nil prepayment charges and Indian Overseas Bank gives the option to close the loan after 1 months at Nil prepayment charges. This makes PNB a better option for Personal Loan.
  • PNB allows part payment on Personal Loan after Zero months at Nil charges, while Indian Overseas Bank does not offer a part payment facility. This makes PNB a better option for instant loan requirements.
  • with an average customer rating of is equally comparable to with an average customer rating of . Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Personal Loan – PNB or Indian Overseas Bank?

As per the current rates, PNB offers a lower interest rate of 8.70% on loans compared to Indian Overseas Bank, which offers a Personal Loan at 10.80%.

Know more about Indian Overseas Bank Personal Loan

Know more about PNB Personal Loan

Compare Indian Overseas Bank Personal Loan With Other Banks

Compare PNB Personal Loan With Other Banks

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.50%. Cashback of up to ₹ 1,000

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000.

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.99% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 6.90%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
Personal Loan News - Sep 2021
  • 2021-09-22 : Axis Bank Introduces Festive Offer on Personal Loan
    Axis Bank offers the lowest personal loan rate of 10.25% as a festive offer. The rates are applicable for a loan amount of 15 Lakhs and above.
  • 2021-09-20 : PNB Introduces Festival Bonanza Offer
    Punjab National Bank (PNB) has introduced a festival bonanza offer under which they reduced home loan interest to 6.80%. Also, the lender has waived off processing fees and documentation charges on all retail loans like home loans, personal loans, car loans, gold loans, property loans. These charges are valid till December 31, 2021.
  • 2021-09-09 : Gold Loan Soars High in 12 Months
    In the last 12 months, gold loans and credit cards have seen significant growth. Gold loans outstanding has increased by 77.4% and personal loans have jumped by 11.2% till July 2021.
  • 2021-09-02 : Axis Bank Personal Loan Rates Changed
    The personal loan rates for Axis Bank have changed for new and BT offers. The Bank is now offering personal loans for new & BT cases starting at 10.25% & 10.49%, respectively.
  • 2021-09-02 : HDFC Bank offers Special Personal Loan
    HDFC Bank has launched a personal scheme for new, and BT offers at an attractive rate. The new personal loan rates are stating at 10.25%
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Loader
Please wait while your information is being processed...