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Indian Overseas Bank Personal Loan

Indian Overseas Bank offers personal loan @ 10.50% 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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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 Fee₹ 6,500
Axis Bank
Low Processing fee
Max. Loan Amt.Upto ₹40L
Rate of Interest9.99% - 17.15%
Tenure upto1-5 Years
Processing Fee1% - 1.5%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max. Loan Amt.Upto ₹25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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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

Indian Overseas Bank Personal Loan Highlights

Interest rate Floating Rates- 10.50% – 13.90% p.a.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

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 10.50%
775 to 779 10.70%
750 to 774 10.85%
725 to 749 &; NTC 11.80%
700 to 724 12.40%
680 to 699 13.25%
680 & Below Reject

Personal Loan Category B

Credit Score Interest Rates (p.a.)
800 and above 10.85%
775 to 779 10.90%
750 to 774 11.10%
725 to 749 & NTC 12.00%
700 to 724 12.50%
680 to 699 13.50%
680 & Below Reject

Personal Loan Category C

Credit Score Interest Rate (p.a.)
800 and above 11.35%
775 to 779 11.45%
750 to 774 11.60%
725 to 749 & NTC 12.50%
700 to 724 13.00%
680 to 699 13.90%
680 & Below Reject

IOB Pre-Approved Personal Loan & Personal Loan Top-up

Credit Score Interest Rate (p.a.)
800 and above 10.50%
775 to 779 10.70%
750 to 774 10.85%
725 to 749 & NTC 11.80%
700 to 724 12.40%
680 to 699 13.25%
680 & Below Reject

IOB Personal Loan to HNIs

Credit Score Interest Rate (p.a.)
800 and above 10.85%
775 to 779 10.90%
750 to 774 11.10%
725 to 749 & NTC 12.00%
700 to 724 12.50%
680 to 699 13.50%
680 & Below Reject

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IOB Personal Loan Fixed Interest Rates

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

Indian Overseas Bank Personal Loan Processing Fees and Charges

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

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.

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

Explore Our Indian Overseas Bank Lenders

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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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Last updated: 15 September, 2025

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