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  • Indian Overseas Bank Personal Loan Customer Care is Rated as "Great!" by 91489 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
    Apply for Personal Loan

    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 service"
      0.5 5.0/5 "Blown Away!"
      The bank bazaar process is excellent and I have got good service from the bank bazaar team. The customer support service and the response is good from the bank bazaar. I have the bank bazaar mobile application which is easy to use and user friendly.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 18, 2018
    • Kotak Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The rate of interest and the charges were quite high with the KOTAK MAHINDRA BANK persona loan process and I have got the loan amount within a week time. The customer support service and the response is good from the Kotak mahindra bank. I would say I got excellent service.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 18, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 4.5/5 "Excellent!"
      The bank bazaar personal loan service was excellent and I have got the loan amount on time via bank bazaar. I know bank bazaar for more than 2 years. The customer support service and the response is good from he bank bazaar team. I use the bank bazaar mobile application which is easy to use.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 18, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have opted the personal loan from the HDFC bank. The promised rate of interest was not approved and I am not happy about the interest rate. I have got the loan amount within a week time. The customer support service and the response is good with the HDFC bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 18, 2018
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan of 190000 and their interest rate is flexible as per customer requirements . I got the loan with in 3 days, the documentation part was also easy and the loan amount was credited directly to my account.
      Was this review helpful? 0
      , chennai
      Reviewed on May 18, 2018
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The response is quite good from the bank bazaar team. I know bank bazaar for the past 1 year, I use the bank bazaar mobile application while applying fort the personal loan which is easy to use and user friendly. I would say I got good service from bank bazaar.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on May 18, 2018
    • HDFC Bank Personal Loan
      "Average service"
      0.5 5.0/5 "Blown Away!"
      I got the personal loan from the HDFC bank within 5 to 6 days of time. The customer support service and the response is good from he HDFC bank. The required loan amount has been disbursed and I am satisfied with it. The rate of interest and the charges are high with the HDFC personal loan.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on May 18, 2018
    • Axis Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan experience was good with AXIS bank, the loan amount was for Rs 5 lakhs with nominal interest rate when compared to other banks. The process was quick and i received my loan amount on time. There are no charges on preclosure and the tenure period is 4 years.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 18, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The bank Bazaar was quite good and I have got the loan on time via bank bazaar ,. The customer support service and the response is good from the bank bazaar they made very good follow up . Their executives explained the product in a very good way.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on May 18, 2018
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The HDFC bank personal loan service was quite good and I have got the loan amount within 2 days of time. The customer support service and the response is good from the HDFC bank. The rate of interest and the charges are average here with the HDFC bank personal loan.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on May 18, 2018
    • Bank Bazaar Personal Loan
      "Perfect srevice"
      0.5 4.0/5 "Great!"
      I have got good service from bank bazaar in regards to my personal loan application. I know bank bazaar for more than 23 years. The customer support service and the response is good from the bank bazaar . I have used the bank bazaar website while applying for the personal loan which is easy to use.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 18, 2018
    • Aditya Birla Finance Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The personal loan process took time with the ADITYA BIRLA FINANCE LIMITED . They have disbursed the loan amount within 2 weeks of time. The required loan amount has been given and I am satisfied with it. the rate of interest and the charges are average here.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 18, 2018
    • Axis Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from the Axis. The whole application process was easy and hassle free. It took just 6 working days to disburse the loan amount to my account. The documentation was done digitally which was easy and convenient. Th EMI is paid online ..
      Was this review helpful? 0
      , bangalore
      Reviewed on May 18, 2018
    • Bank Bazaar Personal Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The service was quite good from the bank bazaar team in concern to my personal loan application. I know bank bazaar for more than 3 years. The customer support service and the response is good from the bank bazaar team. I use the bank bazaar mobile application.
      Was this review helpful? 0
      , chennai
      Reviewed on May 18, 2018
    • Tata capital Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Got the better service from the TATA CAPITAL in regards to my personal loan application. I have got the loan amount within 2 days of time. The customer support service and the response is good from the tata capital . The rate of interest and the charges are average.
      Was this review helpful? 0
      , chennai
      Reviewed on May 18, 2018
    • Axis Bank Personal Loan
      "Good service"
      0.5 2.0/5 "Expected more"
      The Axis bank personal loan service is quite average and they were ready to offer me the loan but the requested loan amount has not been approved , so that was the reason I have closed the loan application. the customer support service and the response is average here.
      Was this review helpful? 0
      , mettur
      Reviewed on May 18, 2018
    • HDFC Bank Personal Loan
      "Average service"
      0.5 1.0/5 "Really Bad"
      I am an existing customer to HDFC ban but still , I haven't got the loan from them and they have rejected my personal loan application saying that my credit score was low. the customer support service and the response is average from the HDFC bank.
      Was this review helpful? 0
      , mettur
      Reviewed on May 18, 2018
    • Bank Bazaar Personal Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I use the bank bazaar for more than 2 months. The customer support service and the response is excellent from the bank bazaar. I have used the bank bazaar mobile application while applying for the personal loan which is easy to use and user friendly.
      Was this review helpful? 0
      , mettur
      Reviewed on May 18, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I got the personal loan amount within a week time. The customer support service and the response is very good from the ICICI bank. The rate of interest and the charges are average with the ICICI bank when compared with others. The loan amount was low with the ICICI bank .
      Was this review helpful? 0
      , mettur
      Reviewed on May 18, 2018
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken this loan almost seven years back for my personal use. The services which they have provided had been good. It was a paperless approval and i had submitted the documents online and it was an easy and smooth process. The rate of interest was nominal and also the loan amount was satisfactory.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 18, 2018
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