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  • IOB Personal Loan EMI Calculator is Rated as "Excellent!" by 25 Users

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    IOB Personal Loan EMI Calculator

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    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.

    Personal Loan Reviews

    • 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? 0
      , chennai
      Reviewed on May 29, 2017
    • IOB Personal Loan
      "Satisfactory Service"
      0.5 3.0/5 "Satisfactory"
      I had taken a personal loan from Indian Overseas bank. It happened quite long back. They voluntarily provided me a personal loan as I bank with them for more than fifteen years. I do not remember about the rate of interest but they processed the loan very fast and disbursed it in the given time.
      Was this review helpful? 1
      , vellore
      Reviewed on May 08, 2017
    • IOB Personal Loan
      "Tedious process"
      0.5 2.0/5 "Expected more"
      I had taken a personal loan from IOB and the process was very tedious. I had to take four days leave from my work for the verification and other procedures. The only good thing is the interest rate and processing charges was normal when compared to the private banks.
      Was this review helpful? 0
      , pondicherry
      Reviewed on Apr 26, 2017
    • IOB Personal Loan
      "Simply superb"
      0.5 4.0/5 "Great!"
      IOB Personal loan process is simply superb Its very good based on my company they had offered this loan. They had got all my transaction details based on which they had offered this loan. Interest rate is good and processing fee charged by them was rs 1000
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 12, 2017
    • IOB Personal Loan
      "Very good and satisfied"
      0.5 4.0/5 "Great!"
      Indian Overseas Bank was good in interest rate, Earlier I was taken personal loan with them. Being an existing customer so they charged very low interest rate and no processing fee. I am really satisfied with the service. IOB worked fast and helped to getting my disbursement on 3 days, First day they collected the loan application form, second day they asked working surety and on third day they disbursed.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 03, 2016
    • IOB Personal Loan
      "Fast process "
      0.5 5.0/5 "Blown Away!"
      The service provided was really good with Indian overseas bank related to the personal loan application.They are taking 2-3days of time for the loan process.The easy documents verification and processing fee is also less which is good.They give on-time service to the customer.
      Was this review helpful? 0
      , chennai
      Reviewed on May 03, 2016
    • IOB Personal Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      I have got the key loan with the Indian overseas bank and the interest rate was around 13.5%, also I can say its the kind of personal loan. The loan amount got disbursed to my account within two days of time. Customer service is okay with them and there are no issues with them as such.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 29, 2016
    • IOB Personal Loan
      "Good and fast process "
      0.5 4.0/5 "Great!"
      Through online i completed the process of the personal loan with IOB bank . I just filled the form and hand over it to the branch manger.Within 3-4 days the loan was processed. Interest rate charged was 13% .As i provided all the documents so there was no much verification.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 04, 2016
    • IOB Personal Loan
      "Fine.."
      0.5 2.0/5 "Expected more"
      Last 4 years personal loan from Indian overseas bank. That was closed and I have received NOC letter also. Their process was quiet slow and huge formalities also. Loan amount offered by them was 2lakhs. Charges were good. But the thing is, service and fine if they respond properly.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 18, 2015
    • IOB Personal Loan
      "Very quick Procesing!"
      0.5 4.0/5 "Great!"
      Indian Overseas Bank took only 1.5 days to disburse my loan amount. They collected KYC details of mine along with the guarantorâ??s KYC details. They are quick in disbursing the personal loan amount. I would suggest them to advertise more to attract more customers.
      Was this review helpful? 4
      , kolkata
      Reviewed on Nov 24, 2015
    • IOB Personal Loan
      "Its fine"
      0.5 3.0/5 "Satisfactory"
      I am an account holder of IOB, its much better than other bank. Response was quick they have offered the loan within a weeks time . Documentation process was smooth. I am very much satisfied with the interest offered by IOB. Customer care is not up to the mark and it has to change.
      Was this review helpful? 3
      , bangalore
      Reviewed on Nov 24, 2015
    • IOB Personal Loan
      "Good process"
      0.5 5.0/5 "Blown Away!"
      This loan I have taken through the company from Indian Overseas Bank.They have taken around 5-7days to process the application.They have not applied any preclosure charges in the loan.The interest applied was same like other banks based on the personal loan.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 11, 2015
    • IOB Personal Loan
      "Nil processing charge for me..."
      0.5 5.0/5 "Blown Away!"
      My requirement was just one lakh so IOB has processed the loan immediately. Interest rate was very less for the personal loan. As we calculate for 24 months I just need to pay 16k extra. Overall per month the interest will be like 0.8%. IOB is helping middle class families. For me the processing charge was nil and now Indian Overseas Bank is charging something but that is less.
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 23, 2015
    • IOB Personal Loan
      "Quick Processing!"
      0.5 5.0/5 "Blown Away!"
      The processing time was quick with Indian Overseas Bank, when I applied for personal loan with them. The interest rate is 9% and they disbursed the loan amount within a day. Partpayment options are flexible with them. Since I hold a savings account with them, it was very easy to take the loan with them.
      Was this review helpful? 6
      , cuddalore
      Reviewed on Sep 18, 2015
    • IOB Personal Loan
      "Comparatively best..."
      0.5 5.0/5 "Blown Away!"
      Comparatively the rate 11% is very less for the personal loan and I got it from Indian Overseas bank. They never hide anything regarding the loan as they were accurate. Amount was sanctioned before the committed time as I was told for 5 days but got it in 3 days. In comparison to private banks, Indian Overseas bank is very good because they are sanctioning the loan.
      Was this review helpful? 3
      , coimbatore
      Reviewed on Sep 09, 2015
    • IOB Personal Loan
      "Wondeful"
      0.5 4.0/5 "Great!"
      I got the personal loan with the Indian Overseas bank with the rate of interest as 13%. The processing charges are also less with them. Services are also good with them. I need to pay the EMI for 36 months.Within a week of time I got the loan to be disbursed in to my account. Documentation is also nominal with them.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Sep 02, 2015
    • IOB Personal Loan
      "Easy to get loan only for the employee"
      0.5 4.5/5 "Excellent!"
      I took a personal loan from IOB bank i got the salaried account with the bank. I have taken the loans with the bank many times as it is very easy to get with very less documents of just pay slip and id proof. All the other formalities is completed by the company and the loan s disbursed within 1 week. The interest rate offered is 14% without any processing fee only they use to charge extra amount for the pre closure of the loan.
      Was this review helpful? 4
      , chennai
      Reviewed on Aug 03, 2015
    • IOB Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      I am holding a IOB Personal loan the process is neither good nor bad. It is a government bank and it is very much secured. I have been holding this account for the past 15 years, they are offering loan based on my account.it is a pre approved loan and the loan process is very slow.
      Was this review helpful? 2
      , chennai
      Reviewed on Jun 18, 2015
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