Multiple banks. Different interest rates. Call it a "conflict of interest".
  • loading

    IOB Personal Loan EMI Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    14% Fixed
    1.01% to 1.10% One time fee
    1L - 15L
    1-5 Years
    Response Time Within 30 minutes
    Think about
    Eligibility Criteria

    Overview about IOB Personal Loan 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. 


    Compare Personal Loan Offers from Top Banks. Apply Online and Get e-Approved Instantly.

    reTH65gcmBgCJ7k - pingdom check string.
    reTH65gcmBgCJ7k - pingdom check string.
    This Page is BLOCKED as it is using Iframes.