IOB Personal Loan Interest Rate Calculator - Dec 2016

Indian Overseas Bank Personal Loan Interest Rates

Last Updated 07th Dec 2016
Salaried Self Employed
Interest Rate 12.70% - 15.25% 14.90% - 15.25%
Lowest EMI Rs. 2,260 per lakh Rs. 2,374 per lakh
Loan Tenure From 12 months to 60 months From 12 months to 60 months
Loan Amount Min Rs. 50,000 and Max Rs. 1,500,000 Min Rs. 50,000 and Max Rs. 1,000,000
Processing Fee Rs. 204 per lakh Rs. 204 per lakh
Age Min 21 years and Max 58 years Min 21 years and Max 58 years
Prepayment Charges Allowed after 1 EMI's, Allowed after 1 EMI's,
Foreclosure Charges Allowed after 1 EMI's, Nil prepayment charges Allowed after 1 EMI's, Nil prepayment charges
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 Salaried   Self Employed - Professional   Self Employed - Business 

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Indian Overseas Bank Personal Loan

Indian Overseas Bank gives the facility of personal loan to the people who want money to achieve their urgent requirements. There are some features and benefits of taking personal loan from Indian Overseas Bank:
  • Nil prepayment charges
  • High loan amount
  • Multiple repayment options
    • Indian Overseas Bank has been rated 0/5.0 by customers for its service quality on MyLoanCare
    • Indian Overseas Bank has over 3,388 branches in India where you can avail service
    • Indian Overseas Bank offers special schemes and discounts for employees of large companies.
    Indian Overseas Bank Personal Loan Interest Rate depends upon
    • Loan amount: Personal loan rate in Indian Overseas Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
    • Company where you work: Indian Overseas Bank has a list of companies to which they lend personal loan. Interest rate will be less if your company is listed
    • Your Salary: Income helps you in determining your rate of interest. Indian Overseas Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

    Personal Loan Indian Overseas Bank 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 personal loan after paying 1 EMI’s with 1 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 Personal Loan EMI Calculator

    Personal Loan EMI of Indian Overseas Bank is a fixed amount that you pay each month towards the repayment of your personal loan till the end of tenure. Lowest EMI offered by Indian Overseas Bank is Rs. 2,260 per lakh loan amount. Personal Loan EMI of Indian Overseas Bank depends on factors like:
    • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
    • Loan tenure matters equally as longer tenure reduces your monthly EMI per lakh
    • Your EMI depends upon the amount of loan you are going to borrow. Loan EMI will be high if you apply for a high loan amount
    What are the benefits of calculating Personal Loan EMI?
    • Personal 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
    Estimated EMI online by using EMI Calculator.

    IOB Personal Loan Eligibility Calculator

    Personal Loan eligibility criteria Indian Overseas Bank
    Eligibility of personal 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
    • Age: Age plays an important role to know your eligibility and repayment capacity. Citibank offers personal loan to salaried individuals who are atleast 21 years old at the time of loan approval and maximum 58 years at the time of loan maturity. Self employed individuals with age of atleast 21 years and maximum 58 years at the time of loan maturity can apply for personal loan from Indian Overseas Bank
    • Income: Indian Overseas Bank Loan eligibility significantly depends upon your income. Usually bank set minimum levels of income to apply for personal loan. Indian Overseas Bank asks for net monthly income of minimum Rs. 20,000.
    • Job stability and Profession: Job stability is important to improve your status and eligibility for personal loan from Indian Overseas Bank. In case you are salaried, you must be in a full time job for at least 36 months of which not less 12 months must be with your current company. In case you are self-employed, you must be in current profession or business for at least 5 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply. Other than job stability, profession is also an important factor which can affect your Indian Overseas Bank eligibility. If you are working with a reputed company, probability of getting personal loan from Indian Overseas Bank increases as the income is considered to be more stable
    • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your personal loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your personal loan eligibility.
    • Loan Amount: Indian Overseas Bank gives you personal loan depending upon your income. Indian Overseas Bank gives you an amount ranging from Rs. 50,000 to Rs. 1,500,000. To improve chances of approval, apply for a loan amount that you can comfortably service.
    Estimated eligibility online by using Eligibility Calculator.
    Popular Products:
    • Sahayika Loan
    • Personal Loan to Pensioners
    Maximum Annual Percentage Rate (APR) 13.1% to 15.65%
    Representative example of the total cost of the loan, including all applicable fees
    Here is an illustration of the total cost of the loan:
    • Total amount borrowed: Rs. 100,000
    • Time period: 12 months to 60 months
    • Indian Overseas Bank Personal Loan Interest Rate: 12.70% to 15.25%
    • Processing Fee payable to Indian Overseas Bank: Upto Rs. 2,000. Current offer for processing fee is Rs. 204 per lakh
    • Fee payable to MyLoanCare: NIL
    • Total Monthly Cost – From Rs. 2,260 for a 60 months Rs. 100,000 loan at 12.70% (lowest rate, longest time period) to Rs. 9,038 for a 12 months Rs. 100,000 loan at 15.25% (highest rate, shortest time period). This is inclusive of principal repayment.
    • Annual Percentage Rate (APR) of charge including all applicable fees: 13.1% to 15.65%
    • Total cost payable over loan tenure: Rs. 10,452 for 12 months loan to Rs. 37,599 for 60 months loan
    Indian Overseas Bank’s terms and conditions as per loan agreement applicable. Short term loans/ pay day loans not available; minimum loan tenure - 12 months. Rate of interest depends upon company categorization, income, job stability, loan amount, CIBIL score, credit profile, existing obligations, verification and other factors. Credit at sole discretion of Indian Overseas Bank.

    Indian Overseas Bank Personal Loan Top up, Transfer

    Transfer of personal loan from another bank to Indian Overseas Bank?
    Indian Overseas Bank offers personal loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Indian Overseas Bank
    You can avail additional top-up personal loan from Indian Overseas Bank, subject to your eligibility

    Personal Loan IOB documents required

    Personal loan for Salaried employee Indian Overseas Bank documents required

    • Filled up loan application form
    • 1 Passport Size Photo
    • Copy of Income Tax PAN
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 0 months payslip, 1 years Form 16, 0 months bank statement showing salary credit and any EMI debit

    Personal loan for Self-Employed Indian Overseas Bank documents required

    • Filled up loan application form
    • 1 Passport Size Photo
    • Copy of Income Tax PAN
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 2 years audited financials, 6 months bank statement
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof

    Compare IOB Personal Loan

    IOB Personal Loan in India

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

    City Customer Care Number
    Agra 1800-425-4445, 044-2851-9490,
    Ahmedabad 1800-425-4445, 044-2851-9490,
    Ambala 1800-425-4445, 044-2851-9490,
    Anand 1800-425-4445, 044-2851-9490,
    Aurangabad 1800-425-4445, 044-2851-9490,
    Bangalore 1800-425-4445, 044-2851-9490,
    Bhilai 1800-425-4445, 044-2851-9490,
    Bhilwara 1800-425-4445, 044-2851-9490,
    Bhiwadi 1800-425-4445, 044-2851-9490,
    Bhopal 1800-425-4445, 044-2851-9490,
    Bhubaneswar Cuttack 1800-425-4445, 044-2851-9490,
    Bikaner 1800-425-4445, 044-2851-9490,
    Chandigarh 1800-425-4445, 044-2851-9490,
    Chennai 1800-425-4445, 044-2851-9490,
    Cochin 1800-425-4445, 044-2851-9490,
    Coimbatore 1800-425-4445, 044-2851-9490,
    Dehradun 1800-425-4445, 044-2851-9490,
    Delhi 1800-425-4445, 044-2851-9490,
    Durg 1800-425-4445, 044-2851-9490,
    Faridabad 1800-425-4445, 044-2851-9490,
    Gandhinagar 1800-425-4445, 044-2851-9490,
    Ghaziabad 1800-425-4445, 044-2851-9490,
    Goa 1800-425-4445, 044-2851-9490,
    Greater Noida 1800-425-4445, 044-2851-9490,
    Gurgaon 1800-425-4445, 044-2851-9490,
    Guwahati 1800-425-4445, 044-2851-9490,
    Gwalior 1800-425-4445, 044-2851-9490,
    Hyderabad 1800-425-4445, 044-2851-9490,
    Indore 1800-425-4445, 044-2851-9490,
    Jabalpur 1800-425-4445, 044-2851-9490,
    Jaipur 1800-425-4445, 044-2851-9490,
    Jalandhar 1800-425-4445, 044-2851-9490,
    Jodhpur 1800-425-4445, 044-2851-9490,
    Kanpur 1800-425-4445, 044-2851-9490,
    Karnal 1800-425-4445, 044-2851-9490,
    Kolhapur 1800-425-4445, 044-2851-9490,
    Kolkata 1800-425-4445, 044-2851-9490,
    Kota 1800-425-4445, 044-2851-9490,
    Kozhikode 1800-425-4445, 044-2851-9490,
    Lucknow 1800-425-4445, 044-2851-9490,
    Ludhiana 1800-425-4445, 044-2851-9490,
    Madurai 1800-425-4445, 044-2851-9490,
    Meerut 1800-425-4445, 044-2851-9490,
    Mehsana 1800-425-4445, 044-2851-9490,
    Mohali Sas Nagar 1800-425-4445, 044-2851-9490,
    Mumbai 1800-425-4445, 044-2851-9490,
    Mussoorie 1800-425-4445, 044-2851-9490,
    Nagpur 1800-425-4445, 044-2851-9490,
    Nashik 1800-425-4445, 044-2851-9490,
    Noida 1800-425-4445, 044-2851-9490,
    Noida Extn. 1800-425-4445, 044-2851-9490,
    Panipat 1800-425-4445, 044-2851-9490,
    Patna 1800-425-4445, 044-2851-9490,
    Pondicherry 1800-425-4445, 044-2851-9490,
    Pune 1800-425-4445, 044-2851-9490,
    Raipur 1800-425-4445, 044-2851-9490,
    Rajkot 1800-425-4445, 044-2851-9490,
    Ranchi 1800-425-4445, 044-2851-9490,
    Rohtak 1800-425-4445, 044-2851-9490,
    Roorkee 1800-425-4445, 044-2851-9490,
    Salem 1800-425-4445, 044-2851-9490,
    Shimla 1800-425-4445, 044-2851-9490,
    Sonepat 1800-425-4445, 044-2851-9490,
    Surat 1800-425-4445, 044-2851-9490,
    Trichy 1800-425-4445, 044-2851-9490,
    Udaipur 1800-425-4445, 044-2851-9490,
    Vadodara 1800-425-4445, 044-2851-9490,
    Varanasi 1800-425-4445, 044-2851-9490,
    Vijaywada 1800-425-4445, 044-2851-9490,
    Vizag 1800-425-4445, 044-2851-9490,
IOB Personal Loan News - Dec 2016
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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