IOB Personal Loan Apply, Interest Rate 2024

IOB Personal Loan Apply, Eligibility, Interest Rate, EMI Calculator, Minimum Salary, Civil Score and more details that we read in this article please read till the last.

If you want to take advantage of Instant Personal Loan of Indian Overseas Bank then this article is for you. Personal loan comes under the category of an unsecured loan. This loan is given by the lender to the customer on the basis of his credit history.

IOB Bank also provides the facility of Personal Loan to the customers. You can apply for Indian Overseas Bank Personal Loan both online and offline. You can avail IOB Personal Loan to meet any of your personal expenses. In this article, we will know in detail what is IOB personal loan, what is the interest rate, eligibility, documents etc. of this loan and how can we apply for this loan etc., so you can complete this article till the end.

IOB Personal Loan – Indian Overseas Bank Personal Loan

You can take a personal loan to meet any of your personal expenses. You can apply for IOB Instant Personal Loan for personal expenses like marriage, higher education, children’s fees, for traveling, medical emergency etc. Your CIBIL Score should be very good to take personal loan. Bank does not provide personal loan to people with bad credit score. Indian Overseas Bank Personal Loan is provided by the bank keeping in mind the factors like applicant’s age, income, CIBIL score, place of residence.

Indian Overseas Bank personal loan interest rate starts from 10.00% p.a. People with a maximum age of 60 years can take advantage of this loan. Under Indian Overseas Bank Personal Loan, you can get 10 times the gross salary or 90% of the cost of the item but maximum loan amount up to Rs 5 lakh. No prepayment fee is charged by the bank. There is a processing charge up to 3% of the loan amount. The maximum loan tenure of IOB Personal Loan is 5 years i.e. 60 months.

IOB Personal Loan Overview

• Loan Name : Indian Overseas Bank Personal Loan 2024
• Lender Name: Indian Overseas Bank
• Interest Rate : Starting from 10.00% p.a.
• Loan amount: Up to Rs 5 lakh
• Processing Charge : 3% of the loan amount
• Loan tenure : 5 years
• Official Website : https://www.iob.in/
• Learn here Wiki

IOB Personal Loan Interest Rate 2024

Indian Overseas Bank’s Instant Personal Loan interest rate starts from 10.00% per annum. Many factors determine the interest rate of a personal loan such as the applicant’s CIBIL score, age, income, employment status, etc. People with a very good CIBIL score can get a personal loan at attractive interest rates.

Before taking a personal loan, we need to know about the personal loan interest rate 2023.

Benefits and Features of Indian Overseas Bank Personal Loan

• Any person can take advantage of Indian Overseas Bank Personal Loan for any of his personal expenses.
• You can get a personal loan of 10 times your gross salary or 90% of the cost of the item but maximum amount up to Rs.5 lakh.
• The interest rate of IOB personal loan starts from 10.00% p.a.
• You can apply for this loan both online and offline.
• The processing charge for the loan is up to 3% of the loan amount.
• Margin – 10% on the price of the item
• The maximum loan tenure of the loan is 5 years.
• No prepayment fee is charged on IOB Personal Loan .
• Security – Hypothecation and appropriate third party guarantee is mandatory on purchase of items out of credit.

Indian Overseas Bank Personal Loan Eligibility

• Applicant’s age should be between 21 to 60 years.
• Salaried people working in government, private or multinational companies are eligible for this loan.
• All persons with regular income whose income is more than Rs 5000 can apply.
• The CIBIL score of the applicant should be very good.
• For more details you can contact your nearest bank branch.

IOB Personal Loan Documents Required

Before applying for a personal loan, you should keep all your documents together so that whenever the bank asks you for documents, you can show them all the documents immediately. To apply for an Indian Overseas Bank personal loan, you must have the following documents:

• Signed application form with photo
• Copy of Passport/Voter ID Card/Driving License
• Last 3 Months Bank Statement / 6 Months Bank Passbook
• processing fee check
• For Salaried Applicants:
  • latest salary slip
  • Latest Form 16. Present Dated Salary Certificate with
• For Self Employed Applicants:
  • latest bank statement
  • Latest ITR or Form 16

How to apply for IOB Personal Loan?

If you fulfill all the conditions of this loan then you can apply for it online and offline. The information about the process of applying is given below:

IOB Personal Loan Apply Online

• To apply online, first you have to visit the official website of the bank iob.in.

• After visiting the website, click on Personal Loan option.
• After clicking, all the information related to personal loan will come on the next page.
• To apply, you have to click on the option of Apply now.
• The loan form will open in front of you.
• Enter the requested information in this form and click on submit.
• After this the bank will contact you and the loan process will be issued further.

How to apply offline?

• First of all you have to go to your nearest Indian Overseas Bank branch.
• You have to contact the bank employee by going to the bank branch.
• The bank employee will provide you all the information related to personal loan.
• After that your documents will be verified.
• Then you will be given a form, you have to fill that form correctly.
• You have to attach your documents with it and submit it on the same.
• In this way your application will be completed.

IOB Bank Personal Loan EMI Calculator

Before applying for a personal loan, you should calculate the EMI (Equated Monthly Installment) of your loan so that you can know how much you will have to pay at the time of loan repayment. You can calculate the EMI of your loan with the help of Personal Loan EMI Calculator by visiting the official website of the bank. The EMI of the loan mainly depends on the loan amount, interest rate and loan tenure. If you apply for a loan without calculating the EMI, then you may have to face difficulties at the time of loan repayment.

IOB Personal Loan Customer Care Number

If you have any other type of information regarding this loan, then you can get information by calling IOB Personal Loan Customer Care Number.

• 24/7 toll-free helpline number : 1800 425 4445/1800 890 4445

Conclusion:

In this article, we have provided you complete information about How to get IOB Personal Loan . If you need instant money for any of your personal expenses, then you can join IOB Bank personal loan. Hope you friends have found this article informative. If you liked this article then please share it with your friends.

FAQs on IOB Personal Loan