The IOB personal loan interest rate is competitive, and is based on the applicant’s profile, loan amount, and tenure. A better credit score can help secure lower rates, while those with lower credit scores may face higher interest rates.
What is the Indian Overseas Bank Personal Loan Interest Rate?
As of 2024, the effective IOB’s personal loan interest rates typically range between 10.85% and 13% per annum. Also, the fixed interest rate for personal loan and personal loan top up is 14% per annum.
The bank has 3 categories of candidates to provide personal loans at different interest rates. These are as follows:
Category A: Employees working with Central Govt., Quasi Govt., State PSUs, Central PSUs, PSB, Railway, Defense & paramilitary irrespective of their account relationship with IOB Bank & Employees of the institutions where there Branch is located
Category B: Employees working with reputed private firms, MNC & companies with regular monthly salary and Maintaining salary account IOB Bank.
Category C: Employees working with reputed private firms, MNC & companies with regular monthly salary and don't maintain a salary account with IOB Bank.
For category A: the ROI ranges from RLLR + 1.50% to RLLR + 2.50%. It is as effective as 10.85% to 11.85%.
For category B: the ROI ranges from RLLR + 2.00% to RLLR + 3.00%. It is as effective as 11.35% to 12.35%.
For category C: the ROI ranges from RLLR + 2.50% to RLLR + 3.50%. It is as effective as 11.85% to 12.85%.
This is all about the Indian Overseas Bank personal loan rate of interest.
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What is IOB Personal Loan Interest Rate?
shivam
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2024-09-17T02:28:09+00:00 2024-09-17T02:28:10+00:00Comment
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