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Customers' Corner
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Last Updated on 24/07/2017
Retail Credit Interest Rates

RETAIL CREDIT SCHEMES INTEREST RATE

1 Year MCLR – 8.55%

(Effective from 12.07.2017)

Housing Loans (for purchase/construction/repair/renovation/GEN Next, Preapproval)

Only for Fresh Housing loans w.e.f 12.07.2017

 

Loan Amount

Interest Rate % p.a.(Floating)

Up to Rs. 30 Lakhs

Repayments over 1 Year up to 5 Yrs

8.55%

Over 5 Yrs up to 10 Yrs

8.55%

More than 10 Yrs

8.55%

 Rs.30Lakhs to Rs.75 Lakhs

Repayments over 1 Year up to 5 Yrs

8.65%

Over 5 Yrs up to 10 Yrs

8.65%

More than 10 Yrs

8.65%

Above Rs. 75 Lakhs

Repayments over 1 Year up to 5 Yrs

8.80%

Over 5 Yrs up to 10 Yrs

8.80%

More than 10 Yrs

8.80%

 

S No

Name of Scheme

Int Rate

1

Pushpaka-loan  - 4 wheeler Loans - New Vehicle

9.05%

Pushpaka-loan  - 4 wheeler Loans - Used Vehicle

 

v  Upto Rs.10Lakh

10.05%

v  Above Rs.10Lakh

11.05%

Pushpaka-loan  - 2 wheeler Loans

11.55%

2

Sahayika-loan

12.30%

3

Pensioners' loan Scheme - loan to pensioners for meeting immediate emergency needs

11.30%

Pensioners Loan Scheme - Retired Staff (including F.A.)

10.30%

4

Home Décor - loan for furnishing your home.

11.30%

5

Liquirent - loan against future rent receivables

 

v Tenor up to 36 months

11.55%

v Tenor more than 36 months

12.05%

6

Akshay - loan against life policies of LIC and private insurers approved by IRDA

11.80%

7

Vidya Jyothi - loan for pursuing higher education

 

v Up to Rs. 4 Lacs

10.55%

v Above Rs. 4 lacs to Rs.7.50 lacs

10.55%

v Above Rs.7.50 lacs

11.55%

v Vocational Courses

11.55%

v Ward of Staff

10.25%

8

Clean Loan - Salaried Employee

13.55%

9

Easy Trade Finance - CC & Term Loan

11.30%

10

IOB Career Dream

 

v Loan Secured by NSC,LIC,KVP etc

11.80%

v Loan without security/against immovable property

12.30%

11

IOB Scholar

 

v Up to Rs. 4 Lacs

10.80%

v Above Rs. 4 lacs

11.30%

v Ward of Staff

10.50%

12

Jewel Loans

 

v Up to Rs. 3 Lacs

10.25%

v Above Rs. 3 lacs

10.75%

13

Home Improvement

 

v Up to Rs. 2 Lacs

8.75%

v Above Rs. 2 lacs

8.90%

14

IOB Personal Loan/ Special Personal Loan to HNIs/VIPs

11.80%

(1% Int Concession if 100% Collateral Security is given)

 

(0.50% Int Concession for Women Borrowers)

 

15

Reverse Mortgage

9.30%

16

IOB Surya

 

v Scheme A -- For Individuals

9.80%

v Scheme B  -- For Institutions 

10.80%

17

IOB Royal

 

v Repayment Less than 4 years

12.80%

v Repayment Above 4 years

13.55%

18

LAP (Loan against Mortgage for properties)

 

v Up to Rs 1.00 crore

10.75%

v Above Rs 1.00 crore

11.25%

19

IOB – Passion

11.30%

*1.00% interest concession if 100% collateral security is provided

 

20

Subhagruha Topup loans

12.05%