Last Updated on 10/10/2017
Retail Credit Interest Rates

RETAIL CREDIT SCHEMES INTEREST RATE

1 Year MCLR - 8.40%

(Effective from 10.10.2017)

 

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

 

Only for Fresh Housing loans w.e.f 10.10.2017

 

Loan Amount - Irrespective of Tenor

Interest Rate % p.a.(Floating)

Up to Rs. 30 Lakhs

8.40%

Above Rs.30 lacs & up to Rs 75 Lacs

8.50%

Above Rs. 75 Lakhs

8.65%

 

S No

Name of Scheme

Int Rate

1

Home Improvement

 

v  Up to Rs. 2 Lacs

8.60%

v  Above Rs. 2 lacs

8.75%

2

Home Décor - loan for furnishing your home.

11.15%

3

Subhagruha Topup loans

11.90%

4

Pushpaka-loan  - 4 wheeler Loans - New Vehicle

8.90%

Pushpaka-loan  - 4 wheeler Loans - Used Vehicle

 

v  Upto Rs.10Lakh

9.90%

v  Above Rs.10Lakh

10.90%

Pushpaka-loan  - 2 wheeler Loans

11.40%

5

Clean Loan - Salaried Employee

13.40%

6

IOB Royal

 

v  Repayment Less than 4 years

12.65%

v  Repayment Above 4 years

13.40%

7

IOB Personal Loan/ Special Personal Loan to HNIs/VIPs

11.65%

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

 

(0.50% Int Concession for Women Borrowers)

 

8

Sahayika-loan

12.15%

9

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

11.65%

 

10

LAP (Loan against Mortgage for properties)


Up to Rs 1.00 crore

10.60%

Above Rs 1.00 crore

11.10%

11

Liquirent - loan against future rent receivables

 

v  Tenor up to 36 months

11.40%

v  Tenor more than 36 months

11.90%

12

Vidya Suraksha - Loans Upto Rs. 7.5 lacs

10.40%

 

Vidya Jyothi - loan for pursuing higher education

 

13

v  Above Rs.7.50 lacs

11.40%

 

v  Vocational Courses

11.40%

 

v  Ward of Staff

10.10%

14

Vidya Shrest   - "A" rated Institutions

8.60%

                          " B" rated Institutions

9.10%

15

IOB Career Dream

 

v  Loan Secured by NSC,LIC,KVP etc

11.65%

v  Loan without security/against immovable property

12.15%

16

IOB Scholar

 

v  Up to Rs. 4 Lacs

10.65%

v  Above Rs. 4 lacs

11.15%

v  Ward of Staff

10.35%

17

Jewel Loans

 

v  Up to Rs. 3 Lacs

10.10%

v  Above Rs. 3 lacs

10.60%

18

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

11.15%

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

10.15%

19

Reverse Mortgage

9.15%

20

IOB Surya

 

v  Scheme A -- For Individuals

9.65%

v  Scheme B  -- For Institutions 

10.65%

21

IOB - Passion

11.15%

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