Multiple banks. Different interest rates. Call it a "conflict of interest".
  • Indian Overseas Bank Personal Loan Customer Care is Rated as "Great!" by 98245 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    Indian Overseas Bank Personal Loan Customer Care

    Indian Overseas Bank (IOB) is one of the major public sector banks headquartered in Chennai with 3,400 branches across India and 8 branches and offices globally as recorded on 31 October 2017. Established on 10 February 1937, the bank has branches in Singapore, Colombo, Seoul, and Bangkok, and representative offices in Guangzhou, Vietnam, and Dubai. Indian Overseas Bank is also the partial owner of a bank located in Malaysia in a joint venture. IOB uses an exclusive software to provide its customers online banking facility which was developed by the bank’s ISO-certified in-house Information Technology (IT) department. For this reason, the bank has succeeded in becoming 100% CBS-compliant and achieved 100% networking status.

    Customer Care Details of Indian Overseas Bank

    The customer care team at the Indian Overseas Bank is available round-the-clock to help its customers with any issue ranging from complaints to product information. Once you call the bank’s customer care, the IOB representative will greet you and listen to your concerns in a gracious manner. If your problem can be resolved immediately, the representative will try to do so to the best of their ability. However, if an instant resolution to your issue is not possible, he or she will further guide you through the relevant processes followed at the Indian Overseas Bank.

    24X7 toll-free helpline number 1800 425 4445
    Credit card toll-free number 1860 425 7744
    Support email ID eseeadmin@iobnet.co.in

    Indian Overseas Bank Official Phone Numbers

    See the below mentioned details of Indian Overseas Bank officials:

    Name of Officer Designation Nature of Enquiries Phone/Fax Number Email Address
    Mr. A. Madhumohan Chief Manager Personal loan internet/mobile banking 044-2888 9350 OR 044-2888 9338 eseeadmin@iobnet.co.in
    Mr. S. V. Kannan Chief Manager Retail banking, Home loan, Education loans, Deposits, Personal loan 044-2851 9490 OR 044-2851 9639 mdd@iobnet.co.in
    Mr. KumaraswamyM. Assistant General Manager Other Public Grievances 044-28519448 Fax: 044-2859 1029 kumaraswamym@iobnet.co.in
    Shri R. K. Shetty General Manager Customer Services Department, Chennai 044-28519511 NA

    Filing a complaint or offering a suggestion isn’t an uphill battle at Indian Overseas Bank due to the uncomplicated customer care services followed at the bank. With 24-hour services, the bank’s customer care team is perpetually ready to assist the customers address their issues promptly and effectively.

    Grievance Redressal Process at Indian Overseas Bank

    Indian Overseas Bank has a step-by-step procedure to redress customer grievances that allows for complete customer satisfaction along with timely resolutions. You can get your complaints registered online, through telephone, or in person - whichever suits you.

    • Step 1: A complainant can get in touch with the Branch Manager of the bank branch wherein he or she holds the account. The individual can get his or her grievance registered over the phone or in the ‘Complaint register’ available with the Branch Manager. In this level, the issue is expected to be resolved within the next 7 days.
    • Step 2: If a petitioner doesn’t find the resolution satisfactory, he or she may write or email the Regional Manager to get a response within 7 days.
    • Step 3: If the complaint still isn’t resolved, the individual may further contact the General Manager at the Customer Service Department of the bank via email or letter.
    • Step 4: In order to ensure exceptional customer service, Indian Overseas Bank has appointed an Internal Ombudsman, Mr. S. Ramesh, who will offer the right resolution to the complainant when the above-mentioned professionals fail.
    • Step 5: If a petitioner still feels that his or her grievance has not been satisfactorily redressed, he or she can get in touch with the Banking Ombudsman constituted by RBI under Banking Ombudsman Scheme-2006.

    Types of loans offered by Indian Overseas Bank

    • Clean Loans
    • Consumption Loans - Sahayika
    • Educational Loans - Vidya Jyoti
    • Vehicle Loans - Pushpaka
    • Commercial Cash Credit Against Jewellery
    • IOB Surya
    • IOB Royal
    • Reverse Mortgage Loan
    • IOB Scholar
    • Career Dreams
    • Vocational Course and Skill Development
    • Personal Loan
    • IOB Passion
    • Special Personal Loan HNI VIP
    • Loan Against Property

    Indian Overseas Bank Personal Loan

    In case your funds come short for the purchase of any consumer durable, you can avail the benefits of the personal loan offered by Indian Overseas Bank. This loan can be used to buy any kind of electrical or electronics product, wooden or metal furniture, and many more products.

    Eligibility criteria:

    Since it is imperative for an individual to have a steady source of income in order to avail this loan, please see the below mentioned requirements to check whether you qualify or not.

    • The applicant must have a regular monthly income of a minimum of Rs.5,000
    • Candidate must be between 18 to 60 years of age
    • The petitioner must provide a third-party guarantee in order to avail this loan
    • Hypothecation on the items purchased out of the loan amount should be done

    Points to keep in mind:

    • The amount applicable to an individual can be 10 times his or her gross salary or 90% of the cost of the article purchased - whichever is less.
    • The maximum loan amount that can be withdrawn from the bank is Rs.5 lakh.
    • The margin for the loan will be 10% of the cost of the article.
    • The repayment can be done with a maximum of 60 equal monthly installments. This tenure does not include holiday period.
    • The applicable Marginal Cost of Funds-Based Lending Rate (MCLR) for this scheme is 8.40% (effective from 10 October 2017).
    • The applicable rate of interest (ROI) is 11.65%. However, 1% additional discount on the ROI is given if 100% collateral security is provided or the applicant is a female.
    • No prepayment charges are levied under this scheme.
    • A processing fee of Rs.204 per lakh on the loan amount is applicable under this plan.

    Indian Overseas Bank Special Personal Loan HNI VIP

    The Special Personal Loan HNI VIP scheme of Indian Overseas Bank is employed for the purchase of household goods.

    Eligibility criteria:

    • The candidate must have a regular monthly income of a minimum of Rs.75,000
    • Applicant must have a minimum of 2 years of work experience at the current organisation
    • The individual must be of the age group of 25 to 60 years at time of maturity of the loan
    • Hypothecation on the purchased item using the loan should be done
    • If the loan amount is more than Rs.15 lakh, the candidate must provide third-party guarantee or collateral security on the loan

    Key points regarding Special Personal Loan HNI VIP:

    • The maximum loan applicable to a candidate can be 90% of the cost of article purchased using the loan amount with a maximum of Rs.25 lakh.
    • The margin for the loan amount is 10% of the cost of the item purchased.
    • The scheme has flexible repayment tenure and the loan can be paid off in 12 to 72 EMIs.
    • Zero prepayment charges are applicable to this plan.
    • The Marginal Cost of Funds-Based Lending Rate (MCLR) applied to Special Personal Loan HNI VIP is 8.40% (in effect from 10 October 2017).
    • The applicable rate of interest (ROI) for this scheme is 11.65% while an additional concession on the interest rate is provided if the applicant is a woman or 100% collateral security is granted.

    Personal Loan Reviews

    • Bank Bazaar Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The helpline number was not easily approachable whenever I call the bank bazaar customer service, it does not connect with the representative. I have been using it for 6months. Earlier I took my credit, the process was simple. The mobile app is convenient to check the credit score and have no issues.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jan 18, 2019
    • HDFC Bank Personal Loan
      "Better"
      0.5 4.5/5 "Excellent!"
      There was delay in the loan process and HDFC have taken around one month. The rate of interest and charges are little bit high compared to others. I have submitted the documents online and also to the executive. I can do pre closure with extra charges and part payment can be done after one year. The loan duration is 2 years.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jan 18, 2019
    • ICICI Bank Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I approached ICICI personal loan through online channel, ICICI taken care and disbursed the amount within two to three weeks of time, But I felt interest rate is good in Tata capital as compared to ICICI. But still I recommend ICICI bank its good.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 18, 2019
    • Axis Bank Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this loan some time back and i had foreclosed this loan a long time back. The overall experience with them has been quite good where the interest rate with them has been nominal when compared with the market rate and there has not been any foreclosure charges with them.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 18, 2019
    • HDFC Bank Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      It has been quite a good experience i had with this loan and the loan amount which they had provided has been sufficient as well. The interest rate which they where offering has been nominal with the market rate, and there is some pre closure charges with them and there has also been some processing fee with them.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 18, 2019
    • Bank Bazaar Personal Loan
      "Quick Wind for the financial products"
      0.5 5.0/5 "Blown Away!"
      I never seen such kind of support any where like Bank Bazaar, whenever I update any request I get reply through msg or mail. Its a right path or helping source for the people to take the banking products on the time schedule. The customer support is very nice and helpful.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 18, 2019
    • Tata capital Personal Loan
      "Good Professional Service"
      0.5 5.0/5 "Blown Away!"
      When I browsed the online channel, Tata capital is the one having less interest with zero processing fee. That is the reason I took this personal loan from them. The loan process was quite good, the processing time is less. The interaction between me and executive was professional.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 18, 2019
    • Bank Bazaar Personal Loan
      "Better"
      0.5 4.0/5 "Great!"
      Although I am not a frequent user of the site, Whenever I need any loans or card that time have visit their website. The website is fine enough. The customer service and response was better. Am using it approx for 6 months. Once have checked the credit score and loan process was simple.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 18, 2019
    • Early Salary Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I took my personal loan from Early Salary through online portal. Everything was fine but executive said will come and collect the documents but nobody turned up . They said if I have refer my friend and will get discount but have not got any discounts. The rate of interest and charges are nominal.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 18, 2019
    • HSBC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan with HSBC bank, ,they have given me sufficient loan amount was sufficient for me, and the rate of interest is very nominal compare to other in the market . There are no hidden charges they have charged me apart from EMI.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jan 18, 2019
    • Kotak Personal Loan
      "Average"
      0.5 1.0/5 "Really Bad"
      I have taken a personal loan from Kotak Mahindra Bank and it was closed in the year of 2018. My experience is not good, have not received NOC on time. They need to improve the customer service. The rate of interest is more compared to others. The documentation process was easy but foreclosure is very difficult.
      Was this review helpful? 1
      , pune
      Reviewed on Jan 18, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The customer service and response was good. I have been using bankbazaar.com for the first time and it was recommended by friend. The process was simple and faster. The mobile application is convenient and easy to compare with the banks. I have checked the credit score.
      Was this review helpful? 1
      , pune
      Reviewed on Jan 18, 2019
    • Tata capital Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have applied my personal loan in Tata Capital through online. The rate of interest and charges are nominal. I have received 2.7L excluding processing fee. The loan duration is 5 years. The documents are collected by executive as well as submitted online. They took max 8 to 9 days to deliver the loan.
      Was this review helpful? 1
      , pune
      Reviewed on Jan 18, 2019
    • Bank Bazaar Personal Loan
      "Its Convenient"
      0.5 5.0/5 "Blown Away!"
      Its a good experience I had with Bank Bazaar, the entire loan process was smooth I don't want to anywhere. I got the door step service from the bank, the customer support guided well and helped me out through the process. The information is useful to compare the products.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 18, 2019
    • Tata capital Personal Loan
      "Good Experience with Tata Capital"
      0.5 5.0/5 "Blown Away!"
      I got best deal from Tata Capital, the customer support is proactive to process the loan application. But the loan disbursement got delay it should be faster. I got the better interest rate and its zero processing fee from the Tata Capital disbursement.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 18, 2019
    • HDFC Bank Personal Loan
      "Interest rate should be standard"
      0.5 4.0/5 "Great!"
      I am not happy with HDFC, comparatively the rates are bit high. Its okay for me, the processing fee is also higher in HDFC, They told some interest but I got some other interest rate. I want to discuss with them and after august it will be one year then I close it.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jan 18, 2019
    • ICICI Bank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      That was better experience, interms of rate of interest. ICICI bank agents are proactive they came to my place and collected the documents and done the process. Then I didn't interact with them. I got the better deal from ICICI on the personal loan.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jan 18, 2019
    • Bank Bazaar Personal Loan
      "Good customer support and satisfactory"
      0.5 5.0/5 "Blown Away!"
      The quick on their work, whatever I approached they helped me out. I could check all the information based on the requirement. Its a good customer support I can view all the banking options. I am getting promotional mails through the link I have raised the request for the credit card.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jan 18, 2019
    • Citibank Personal Loan
      "Rate of interest should be reduced"
      0.5 4.0/5 "Great!"
      Citi bank rate of interest is too high for the amount of Rs. 3 lakhs, they have taken some processing fee from the disbursement but it was quite nominal. The documentation process was smooth, on the expected time I got the loan amount from the bank.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jan 18, 2019
    • Early Salary Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The rate of interest and charges are nominal. I like the process which was much easier to proceed the personal loan. They did not required any documents and executive came for verification then loan amount was processed. I took 10K and it was paid through online.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 18, 2019
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