Purpose To Purchase of Consumer durables. Consumer durables included all electrical and electronics, wooden and metal furniture etc. Eligibility All individuals with regular income is more than Rs.5000/- with maximum age limit of 60 years. Quantum of Loan 10 times of the gross salary or 90% of the cost of article whichever is less, but not to exceed Rs. 5.00 lacs Margin 10% on cost of the article Rate of Interest Retail Credit Interest Rates (Click here) Repayment Maximum Repayable is 60 equated monthly installments without holiday period No Pre payment charges Security Hypothentication on purchase of articles out of loan and a suitable 3rdparty guarantee Processing Charges: For up to Date Processing Charges, You are requested to kindly visit your nearest IOB Branch.
Purpose
To Purchase of Consumer durables. Consumer durables included all electrical and electronics, wooden and metal furniture etc.
Eligibility
All individuals with regular income is more than Rs.5000/- with maximum age limit of 60 years.
Quantum of Loan
10 times of the gross salary or 90% of the cost of article whichever is less, but not to exceed Rs. 5.00 lacs
Margin
10% on cost of the article
Rate of Interest
Retail Credit Interest Rates (Click here)
Repayment
Maximum Repayable is 60 equated monthly installments without holiday period
No Pre payment charges
Security
Hypothentication on purchase of articles out of loan and a suitable 3rdparty guarantee
Processing Charges: For up to Date Processing Charges, You are requested to kindly visit your nearest IOB Branch.