Indian Overseas Bank Personal Loan

Last Updated : March 6, 2025, 4:33 p.m.

Being a major public sector bank based in Chennai, Indian Overseas Bank offers personal loans to fulfill the personal wishes of all. Be it for travel, marriage, medical emergency, or debt consolidation, no matter for which purpose you want to avail of the loan, the bank caters to all your requirements. You can get the loan at low interest rates, less processing fees & charges, along with flexible tenure options. So, to learn more about Indian Overseas Bank Personal Loan, go through the page below.

Indian Overseas Bank Personal Loan Interest Rate Details 2025

The table shows you all the information regarding Indian Overseas Bank Personal Loan interest rates and personal loan -

Indian Overseas Bank Personal Loan Floating Interest Rate Based on CIBIL Score and Job Profile

Category A

Category B

Category C

IOB Royal - Personal Loan to HNI

Indian Overseas Bank Personal Loan Eligibility Criteria

Here is the eligibility criteria for Indian Overseas Bank Personal Loan for different schemes and on job profile -

For IOB Personal Loan

The following applicants are eligible:

• Category A – Employees of Central Government, State PSUs, Central PSUs, Quasi-Government, Defense & Paramilitary, Public Sector Banks, and Railways. Employees of institutions where the bank’s branch is named after the institution and salary is credited to an IOB savings account are also eligible.
• Category B – Employees of MNCs, reputed private firms, and companies with regular monthly salaries. They must maintain a salary account with IOB, with salary credited for at least 6 months.
• Category C – Employees of reputed private firms, MNCs, and companies with regular monthly salaries, even if they do not maintain a salary account with IOB. Salary should be credited for at least 6 months.

The applicant must have a savings account in the branch from where the loan is availed.

For Personal Loan to HNI (IOB Royal)

• Minimum Age: 25 years
• Minimum Gross Income: ₹1,00,000

For IOB Personal Loan Top-up

• Eligible Applicants:
• Employees of the Central/State Government, Central PSUs, State PSUs, PSBs, Quasi-Government, Railways, Defense, and Paramilitary forces with a salary account at IOB.
• Employees of institutions where an IOB branch is located on campus and their salary is credited to an IOB savings account.

Age Criteria:

• Minimum: 22 years
• Maximum: 3 months before superannuation or 60 years, whichever is earlier.

Other Requirements:

• Regular repayment history for the last 1 year.
• CIC Score of 700 or above.
• Take-home pay after the proposed EMI should be at least 40% of salary or ₹50,000, whichever is higher.

Documentation Required For Indian Overseas Bank Personal Loan Application

Below is the list of documents that are required while availing of the IOB Personal Loan along with some other documents that are essential for a loan application to get processed -

• Application Form: Duly filled with passport-sized photographs.
• Photo Identity Proof (any one): Passport, PAN Card, Voter ID, Driving License, Aadhaar Card.
• Address Proof (anyone): Ration Card, Bank Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property Purchase Agreement (for owned properties), Aadhaar Card.
• Income Proof: Bank Statement, Salary Slips, ITR, Form 16, etc. (as per scheme and applicant type).
• Additional Requirements: Any other document requested by the bank.

Additional Documents for IOB Personal Loan

• Salary Certificate: Required for both applicant and guarantor, including deduction details.
• Employer Undertaking: Letter agreeing to deduct monthly installments and recover dues from terminal benefits if needed.

Things to Remember

• The employee should have an S.B. account in the branch from where the loan is proposed to be availed. The salary of the employee should be routed through the S.B. account at the branch office where the loan is sanctioned.

Indian Overseas Bank Personal Loan EMI Calculator

Stands for Equated Monthly Installment, EMI is nothing but the sum of the interest and principal which is payable each month on a personal loan. So, now you must be wondering how Indian Overseas Bank calculates your EMI when it comes to personal loans. Well, your EMI gets calculated in a very easy and simple manner. Indian Overseas Bank Personal Loan EMI calculator takes into account your loan amount, interest rate, and tenure of the loan to calculate your monthly installments.

For Example: If you are interested in availing a loan of ₹10,00,000 from Indian Overseas Bank for 5 years for a vacation at an interest rate of 10.75% p.a.- 14.15% p.a., the total monthly EMIs on both the interest rate are given in the table below, and understand about it -

Indian Overseas Bank Processing Fee and Charges

IOB Personal Loan

Clean Loan, IOB Royal

Indian Overseas Bank Personal Loan Application Form

If you want to get a personal loan from Indian Overseas Bank, you can download the application form from the bank’s site. Yes, you just need to visit the site and download the form available online. Depending upon your convenience, you can download the form and fill it out either at your home or office.

The application form is available online so that you can easily get the form and apply for the loan without any hassle. Once you download the form, you will find that there are a few important details that you need to fill in the form. After completing the form, you need to submit it at the branch itself to process your loan request further.

Conclusion

With a straightforward documentation process and an easy online application form, applying for an Indian Overseas Bank Personal Loan is hassle-free. Whether you are a salaried employee from the government or private sector, IOB’s personal loan solutions are designed to offer financial flexibility and convenience. The bank categorizes applicants based on their job profile and CIBIL score, ensuring fair interest rates based on creditworthiness. If you are looking for a reliable and affordable personal loan, Indian Overseas Bank can be a great choice to fulfill your financial needs.