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Indian Overseas Bank Personal Loan

Indian Overseas Bank offers personal loan @ 10.25% p.a. for loan amounts of up to Rs 30 lakh and for tenures of up to 7 years. Consumers with minimum monthly income of Rs 75,000 can avail IOB Royal, a special Indian Overseas Bank Personal Loan scheme, for tenures of up to 7 years
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Get up to ₹50 Lakhs starting at 9.98%

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Apply Now

Indian Overseas Bank Personal Loan Highlights

Interest rate Floating Rates- 10.25% p.a. onwards
Fixed Rates- 14.00% p.a.
Loan Amount Up to Rs 30 lakh
Tenure Up to 7 years
Processing Fees Up to 0.75%
Minimum Gross Income Rs 75,000

Rates as of 15th April 2026

Indian Overseas Bank Personal Loan Interest Rates

IOB Personal Loan Floating Interest Rates

Personal Loan Category A

Credit Score Interest Rates (p.a.)
800 and above 10.25%
775 to 779 10.45%
750 to 774 10.60%
725 to 749 &; NTC 11.55%
700 to 724 12.15%
680 to 699 13.00%

Personal Loan Category B

Credit Score Interest Rates (p.a.)
800 and above 10.60%
775 to 779 10.65%
750 to 774 10.85%
725 to 749 & NTC 11.75%
700 to 724 12.25%
680 to 699 13.25%

Personal Loan Category C

Credit Score Interest Rate (p.a.)
800 and above 11.10%
775 to 779 11.20%
750 to 774 11.35%
725 to 749 & NTC 12.25%
700 to 724 12.75%
680 to 699 13.65%

IOB Personal Loan Fixed Interest Rates

Scheme Interest Rates (p.a.)
Personal Loan 14.00%
Personal Loan Top-up 14.00%

IOB Personal Loan

Loan Amount Processing Charges
Up to Rs 5 lakh 0.40%
Above Rs 5 lakh 0.50%

Clean Loan, IOB Royal

Loan Amount Processing Charges
Up to Rs 5 lakh 0.50%
Above Rs 5 lakh 0.75%

Also check the processing fees for personal loans charged by other lenders

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Types of Indian Overseas Bank Personal Loans

Personal Loan to HNI (IOB Royal)

Purpose: Personal loan scheme offered to fulfil the socio-economic financial needs

Loan Amount: Up to Rs 15 lakh

Tenure: 1-7 years

IOB Personal Loan

Purpose: For any purpose, including financial or social commitments.

Loan Amount:

  • For employees working with Central Government, State PSUs, Central PSUs, Quasi Govt., Defense & paramilitary, PSB and Railway, or institutions where the bank's branch is named after the institution's name, or working with MNCs, reputed private firms and companies with regular monthly salaries and maintaining salary accounts with IOB - Up to 25 or 20 times of gross monthly salary or Rs 30 lakh, whichever is lower.
  • For employees working with reputed private firms, MNCs and companies with regular monthly salaries and don't maintain salary accounts with IOB - Up to 10 times of gross monthly salary or Rs 15 lakh, whichever is lower.

Tenure: Up to 7 years

IOB Personal Loan Top-up

Purpose: For any purpose, including financial or social commitments.

Loan Amount: Up to 25 times the salary or Rs 7.50 lakh, whichever is lower. The total loan amount under the Personal Loan Scheme, including the Top-up, should not exceed Rs 30 lakh per borrower.

Tenure: Up to 5 years. The repayment period should not exceed 3 months prior to superannuation or 60 years of age, whichever is earlier.

Eligibility Criteria for Indian Overseas Bank Personal Loan

For Personal Loan to HNI (IOB Royal)

  • Minimum age: 25 years
  • Minimum Gross Income: Rs 75,000

Eligibility for IOB Personal Loan

The following types of applicant are eligible for IOB Personal Loans:

    • Category A: Employees working with Central Government, State PSUs, Central PSUs, Quasi Govt., Defense & paramilitary, PSB and Railway are eligible for IOB Personal Loan. The employees of the institutions where the bank's branch is named after the institution's name and salary is credited to a savings account with the bank are also eligible for personal loans.
    • Category B: Employees working with MNCs, reputed private firms and companies with regular monthly salaries and employees maintaining salary accounts with IOB. The regular salary credit into the account should be for a minimum of 6 months.
    • Category C: Employees working with reputed private firms, MNCs and companies with regular monthly salaries and don't maintain salary accounts with IOB. The regular salary credit should be for a minimum of 6 months.
    • The applicant should have a savings account in the respective branch from where the loan is availed.

Eligibility for IOB Personal Loan Top-up

  • Employees working with Central or State Government, Central PSUs, State PSUs, PSBs, Quasi Govt., Railway, Defence & Paramilitary and having their salary account with Indian Overseas Bank are eligible for personal loan top-up.
  • Employees of the institutions where IOB's Branch is located in the institution campus and the salary of the employees of the institution is credited to a savings account with IOB are also eligible for top-up loan.
  • Age Criteria: Minimum-22 years, Maximum-3 months prior to superannuation or 60 years of age, whichever is earlier.
  • The applicant should have a regular repayment for the last 1 year.
  • CIC Score: 700 and above
  • The Take Home Pay (after proposed EMI) should be 40% or a minimum Rs 50,000 after the proposed EMI.

Also check the personal loan eligibility criteria set by other personal loan lenders.

Documents Required for Loan Application

  • Duly filled application form with passport-sized photographs
  • Photo identity proof (any one document): Passport, PAN card, Voter Identity Card, Driving License, Aadhar Card
  • Address proof(any one document): Ration Card, Bank Account Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property purchase agreement(for owned properties), Aadhar Card
  • Income proof: Bank Account Statement, Salary Slips, ITR, Form 16, etc.(depending on scheme and applicant type)
  • Any other document required by the bank

Additional documents for IOB Personal Loan

  • Salary certificate of applicant and guarantor with deduction particulars
  • You can check your credit score for free and stay aware about your loan eligibility
  • Undertaking letter from employer to deduct monthly installment and recover the dues from terminal benefit (if necessary)

Indian Overseas Bank Customer Care

Toll Free Numbers:

  • 1800 890 4445
  • 1800 425 4445

Know more about Indian Overseas Bank Customer Care and Grievance redressal process in detail

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Apply Now

Avail Personal Loan for
All Your Needs

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Avail Personal Loan for
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FAQs

Personal Loan applicants qualifying for IOB Royal are not required to furnish any security, margin or guarantor. Such applicants should have a minimum gross income of Rs 75,000. However, other applicants of unsecured personal loan are required to provide two, third party guarantors. The salary of each such guarantor should be at least equal to that of the borrower.

Indian Overseas Bank offers personal loans at floating and fixed interest rate.

Yes, Indian Overseas Bank offers an interest rate concession of 1% to personal loan applicants having credit score of 800 & above.

Indian Overseas Bank has not specified any cut-off credit score for personal loan applicants. However, personal loan applicants with credit score of 750 and above usually have higher chances of availing personal loans.

Lenders determine the loan amount eligibility of a personal loan applicant based on his repayment capacity. Indian Overseas Bank requires the EMIs of its personal loan applicants to remain within 50% of their gross pay.

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What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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