Multiple banks. Different interest rates. Call it a "conflict of interest".
  • IOB Personal Loan EMI Calculator is Rated as "Excellent!" by 42 Users

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    IOB Personal Loan EMI Calculator

    Indian Overseas Bank’s Clean Loan is the personal loan offering which provides loan to the salaried class at attractive terms and rates. The quantum of loan offered is up to Rs.15 lacs with a term of up to 60 months provided for repayment.

    This scheme from IOB is suited for aspirants whose salary account is held with the bank. Aspirants working with government & PSUs, corporate companies and other reputed firms are eligible to avail a loan under this scheme. Just like any other retail loan, the repayment on the amount borrowed is done in EMIs(Equated Monthly Installments).

    How to use BankBazaar IOB Personal Loan Calculator to understand your Personal Loan Repayment

    Before signing up for a loan from IOB, it's paramount to understand the financials involved in the loan to make sure you sign up for the most suitable terms under the loan. Since the repayment is done on installment basis, it helps in knowing the EMI amount and breakup of charges beforehand to help you avail the loan without hassles. Using suitable tools to understand the financials under the loan will also help in planning your monthly budget in an efficient manner.

    The BankBazaar Personal Loan EMI Calculator is a comprehensive tool which helps in unveiling the exact EMI amount and also to get a detailed breakup of charges such as interest and processing fee. This easy-to-use tool offers the required output in less than a second with details that are easy to comprehend. We recommend that you use this calculator to understand the proposed loan with IOB. Having complete details of the financials also equips you with information to negotiate and choose the terms.

    How does the IOB Personal Loan EMI Calculator work

    Before using this tool, basic information pertaining to the financials of the loan such as the proposed loan amount, tenure (in years & months), applicable interest rate and the processing fee component (in percentage) should be available.

    After obtaining these details, follow 4 Easy steps below to get the IOB Personal Loan EMI amount and amortization table.

    • On the scale 1 titled “Loan Amount”, use the slider to freeze the proposed loan amount. Move the scale carefully and be sure to select the right amount.
    • On scale 2 titled “Tenure”, follow the same step as above to choose the loan tenure in years and months.
    • In the following fields, key in the interest rate and processing fee, both in percentage.
    • After you’re done making the required selection, click “Calculate” to get the required output.

    In less than a second, you have the EMI amount displayed on the screen followed by charts and graphs providing a detailed breakup of the charges involved in the loan along with the amortization table for reference.

    Features and Benefits of IOB Personal Loan EMI Calculator:

    Provides the EMI Value

    The most basic function of this tool is to offer the exact installment amount you will be paying into your IOB Personal Loan each month. It not only helps in planning your monthly budget, but also to choose the loan terms such as the tenure and negotiate the rate with the bank.

    Amortization table

    This table offers a detailed breakup of the monthly installment payable and contains the principal and interest rate components until the end of repayment schedule. The information obtained from this table can also help in making key decisions such as pre-closure of an existing loan.

    Breakup of finance charges

    The breakup obtained from the pie chart will tell you how much interest charges you will be paying overall. On the basis of this information, you can go ahead and negotiate the rates with the bank to get them reduced.

    IOB Personal Loan Calculator FAQs

    1. I am using the calculator to check the EMI amount and other charges. Is the figure accurate?

      The calculations are done on the basis of reducing balance principal and is nearly accurate. There can be minor differences depending on the method employed by the bank.

    2. I am looking forward to pre-close my existing personal loan with IOB. How will this tool help me?

      Please refer to the loan terms and use the calculator by providing the required details. The amortization table will give you a clearer picture of the financials. Depending on the number of instalments you’ve paid, you can check, compare the incidence of interest charges on the balance outstanding and decide accordingly.

    3. Can this tool be used to compare personal loan offers from other banks against IOB?

      Yes, this tool comes handy for calculating the EMI for loan deals from other banks as well.

    Personal Loan Reviews

    • IOB Personal Loan
      "Very Quick Response"
      0.5 5.0/5 "Blown Away!"
      I have purchased the home loan with Indian Overseas Bank 1 year bank. I have selected this bank because of the lower interest rate. I have been paying the EMI of 12000 per month. I have selected the tenure period the tenure period for 60 months. I have received the proper response from IOB Services.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 17, 2019
    • IOB Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My car loan experience was good with Indian Overseas bank, the loan amount was sufficient and the rate of interest was high when compared to other banks. Tenure period for this loan is 3 years and the customer service was good.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Jan 03, 2019
    • IOB Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      The experience with this personal loan has been good and the loan amount of 2,00,000 has been sufficient. The interest rate with them has been nominal when compared with the market rate and there has not been any sort of additional charges which they had made so far.
      Was this review helpful? 2
      , kolkata
      Reviewed on Dec 20, 2018
    • IOB Personal Loan
      "Need to reduce the interest rate"
      0.5 5.0/5 "Blown Away!"
      Previously i was working with IOB bank and the service was fine. I have taken a personal loan with them. The interest rate was very high which is 15% and there was a processing fee of 2%. I have applied the loan amount of Rs. 3 lakhs. Total tenure period of the loan is 1.5 years
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 19, 2018
    • IOB Personal Loan
      "Good in Service"
      0.5 5.0/5 "Blown Away!"
      I had taken a Personal loan with IOB bank and i would say they were good in services. I never had any complaint with the services. When i had submitted the application, it was processed on time. There was no delay and overall i carried a good experience. The loan has been closed.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 19, 2018
    • IOB Personal Loan
      "Better"
      0.5 5.0/5 "Blown Away!"
      I have taken a small personal loan in Indian Overseas Bank in July 2018. The process was better and services are good. The rate of interest and charges are very low comparing to other banks. The loan duration is only for 10 months. I have taken 50K.
      Was this review helpful? 2
      , chandigarh
      Reviewed on Nov 29, 2018
    • IOB Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I am using the personal loan from the INDIAN OVERSEAS BANK from last 3 years and it is yet to finish. I am paying my EMI on monthly basis through auto debit. I got the sufficient loan amount also the interest rate is 10.5% which is nominal. The processing fee is good.
      Was this review helpful? 1
      , dindigul
      Reviewed on Oct 18, 2018
    • IOB Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Got the personal loan with the INDIAN OVERSEAS BANK around 3 years ago. The customer support service and the response is good with the Indian overseas bank. The rate of interest and the charges are average with the Indian overseas bank personal loan process.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Jun 13, 2018
    • IOB Personal Loan
      "high rate of interest"
      0.5 5.0/5 "Blown Away!"
      I had a personal loan in INDIAN OVERSEAS BANK. They processed my Personal loan application and approve and sanctioned with in 48 hours. But rate of interest is quite high which is 14 % by comparing to other banks. The customer service is good and well responsive.
      Was this review helpful? 4
      , chennai
      Reviewed on Feb 02, 2018
    • IOB Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The INDIAN OVERSEAS BANK has approved my personal loan and disbursed my loan amount within 1 week time. The customer support is good with the INDIAN OVERSEAS BANK. They have collected the documents on time and they have disbursed the required loan amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 16, 2018
    • IOB Personal Loan
      "Good for personal loan"
      0.5 5.0/5 "Blown Away!"
      With IOB I had taken a personal loan. The rate of interest was 5%. As i am the staff of the particular bank we do have a special interest rates. documentation as like the government norms we have to produce all the documents. In short I would say this bank is good for personal loan.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 06, 2017
    • IOB Personal Loan
      "Good rate of interest"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Indian Overseas Bank and it was Straight through process with no requirement of any documents as i have an account for the last 20 years. I also had an additional benefit as the rate of interest for my loan was a nominal one.
      Was this review helpful? 2
      , chennai
      Reviewed on Nov 24, 2017
    • IOB Personal Loan
      "Nice"
      0.5 3.5/5 "Pretty good"
      I have taken the personal loan with the Indian overseas bank and the customer service is better one, also the interest rate is around 11.4%, which is floating based. I would like to say that the customer service is an average one.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 17, 2017
    • IOB Personal Loan
      "Not too good"
      0.5 2.0/5 "Expected more"
      I have taken a personal loan with Indian Overseas bank and i would say that the experience has not been good. The service is not up to the mark and the process was delayed a lot. They do not have a quick response system and i am looking forward to transferring my personal loan to a different bank.
      Was this review helpful? 2
      , chennai
      Reviewed on Nov 14, 2017
    • IOB Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have also taken a personal loan from IOB and the process for the document collection and disbursement was completed in one week. The rate of interest and processing charges are normal. There is only eight months more for the loan to complete and it is a smooth process too.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 14, 2017
    • IOB Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The documentation process was good with Indian overseas bank. They have collected the required documents within 2 to 3dayas of time. The customer support is good with Indian overseas bank. The required loan amount has been approved and I am satisfied with it. The rate of interest was 11.99% which is nominal when compared with others.
      Was this review helpful? 0
      , anand
      Reviewed on Nov 06, 2017
    • IOB Personal Loan
      "Very good experience"
      0.5 5.0/5 "Blown Away!"
      IOB is better in the customer services. The response is good and there are no hassles in the communication. I have taken a personal loan and there was a good response and the disbursement was also on time. The after loan services was excellent.
      Was this review helpful? 0
      , thanjavur
      Reviewed on Nov 01, 2017
    • IOB Personal Loan
      "Fast process"
      0.5 5.0/5 "Blown Away!"
      I am happy with IOB for offering me a personal loan. This is a earlier experience. The customer services and response was excellent as I got the loan within two days. The rate of interest was around 14%. The processing charges were very much normal and overall no hassle faced.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jul 11, 2017
    • IOB Personal Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      One year back, I had taken personal loan from IOB. They had taken some time to process the loan and disburse it but it is really good. I had requested amount of Rs.3 lakhs they had sanctioned the entire amount. Interest is good ,reasonable and it is as per the market rate.
      Was this review helpful? 0
      , chennai
      Reviewed on May 30, 2017
    • IOB Personal Loan
      "Good Process"
      0.5 5.0/5 "Blown Away!"
      I had taken the personal loan from Indian Overseas Bank about 5 years ago. The loan process was very simple even the interest rate is quite good. I was happy with the bank as they done the entire process in a good way and there were no issues absolutely.
      Was this review helpful? 1
      , chennai
      Reviewed on May 29, 2017
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