Fulfill Your Dreams with IOB Personal Loan Avail IOB Personal Loans for medical, travel & other needs with easy EMIs. Own your dream home with IOB’s low-interest home loans and flexible tenure. Drive home your dream car with attractive IOB auto loan offers. Support your higher education in India or abroad with IOB education loans. Open a Savings Bank account instantly and enjoy modern banking facilities. Manage your business with IOB current accounts tailored to your needs. Open NRE/NRO accounts with IOB and enjoy seamless global transactions. Special savings options with extra interest for senior citizens at IOB. Lodge a complaint or suggestion quickly via our online portal. Experience seamless banking with our Internet Banking services. Anytime, Anywhere Banking Book a safe deposit locker online and secure your valuables with IOB. You are being redirected to an external website . You are leaving the Indian Overseas Bank website. Do you want to proceed? iob_bank_personal_loans Apply Online for Personal Loan - (Click here) Employees in Government, Public Sector Undertakings,reputed private enterprises, firms, companies etc. and confirmed in service. The take home pay, after deduction of the proposed loan installment should be more than 50% of the gross pay. LIC agents are also eligible to apply for the loan subject to conditions. Any domestic needs including any social/financial commitments other than for speculation purpose. Category A: Employees working with central Govt., Quasi Govt., State PSUs, Central PSUs, PSB, Railway, Defense & paramilitary irrespective of their account relationship with our Bank & Employees of the institutions where our Branch is located by Holding the institution's name for the Branch and salary of the employee of the institutions are credited SB account with our Bank. You may also be interested in: Personal Loan Top Up Scheme (for existing personal Loan borrowers) - (Click here) Category B: Employees working with reputed private firms, MNC & companies with regular monthly salary and Maintaining salary account with our Account our Bank. Regular salary credit into account for min 6 months. Category C: Employees working with reputed private firms, MNC & companies with regular monthly salary and don't maintaining salary account with our Bank. Regular salary credit into account for min 6 months. Maximum Loan Limit: Up to 25/20 times of gross monthly salary or Rs 30.00 Lakhs whichever is lower. Up to 10 times of gross monthly salary or Rs 15.00 Lakhs whichever is lower. Maximum: 84 Months Rate of Interest Category A: Irrevocable PDC/ECS/SI to be obtained. Category B: Employer will give undertaking to deduct the EMI and remit it to Bank or Salary will transfer to IOB with irrevocable standing instruction. Category C: Single third party guarantee whose salary is equal or more than that of the borrower OR joint guarantee of two guarantors whose gross salary put together exceeds the gross salary of the borrower. Other Conditions The employee should have a S.B. account in the branch from where the loan is proposed to be availed. Salary of the employee should be routed through the S.B. account at the branch where the loan is sanctioned. Undertaking letter from the employer undertaking to deduct from salary, loan instalment every month and remit to bank to be produced. Letter from the employer, undertaking to recover the dues from the terminal benefits of the employee in case of death, retirement, or resignation to be produced. Documents Required Application Form Salary certificate of applicant and guarantor with deduction particulars, Undertaking letter from employer to deduct monthly instalment and recover the dues from terminal benefit in case of necessity or Apply Online

Processing Charges As applicable from time to time. Click here for Current Service Charges Application Form Roll Over Facility On repayment of 50% of the loan amount through regular repayments, fresh limit can be considered, and the fresh loan proceeds must be used to pre close the existing loan outstanding. No two clean loans should stand in the name of the borrower at any point of time. On repayment of 30% of the loan through regular repayment in case of SPECIAL CATEGORY BORROWERS i.e. all confirmed salaried employees with central and state governments, quasi governments and PSU. Other Personal Loan Variants From IOB: Personal Loan to LIC Agents: For meeting Financial/ Social/ Professional Purposes Criteria of Borrowers He/ She to have minimum experience of 5 Years as LIC Agent. The Agent to be IT Assessee. Average yearly income/commission should be Rs 84000 /per annum for past 3 years Not to exceed 55 years. Deviation can be permitted by RLCC and Above Eligible Loan Amount 10 times of average commission receipt per month with a maximum loan amount of Rs 10 Lakh Term Loan or Cash Credit. If availed in the form of Cash Credit it will be on reducing Drawing power every month. Repayment Period Maximum 60 months Two Guarantors whose individual monthly salary/income should eb at least equal to the average monthly commission of the LIC Agent Borrower To be 700 and above Prepayment charges Other Important Features ECS Mandate/ Postdated cheques /standing instructions for recovery of loan instalments. Among other Personal Loan Products are Personal Loan to HNIs Consumer Durable Loans Elite Consumer Durable Loans Personal Loan Top Up Scheme iob_bank_media_section Follow us / Share: Visit Indian Overseas Bank Facebook page (opens in a new tab) Visit Indian Overseas Bank Twitter page (opens in a new tab) Visit Indian Overseas Bank YouTube page (opens in a new tab) Visit Indian Overseas Bank Instagram page (opens in a new tab) Visit Indian Overseas Bank LinkedIn page (opens in a new tab) Visit Indian Overseas Bank threads page (opens in a new tab) iob_bank_sticky iob_bank_footer iob_bank_copy_right © Copyright/ Indian OverseasBank - 2010 - 2026