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Last Updated on 05/10/2018
Retail Credit Interest Rates

RETAIL CREDIT SCHEMES INTEREST RATE

1 Year MCLR - 8.70%

(Effective from 10.09.2018)

 Housing Loans (for Purchase / Construction / Repair / Renovation / GEN Next, Preapproval)

Only for Fresh Housing loans w.e.f 10.09.2018

 

Loan Amount - Irrespective of Tenor

Interest Rate % Per Annual (Floating)

Up to Rs. 30 Lakhs

8.70%

Above Rs. 30 Lakhs & up to Rs 75 Lakhs

8.80%

Above Rs. 75 Lakhs

8.95%

 

Sr. No

Name of Scheme

Int Rate

1

Home Improvement

 

Up to Rs. 2 Lakhs

8.90%

Above Rs. 2 Lakhs

9.05%

2

Home Décor - Loan for furnishing your home.

11.45%

3

Subhagruha Topup loans

12.20%

4

Pushpaka-loan  - 4 wheeler Loans - New Vehicle

9.20%

Pushpaka-loan  - 4 wheeler Loans - Used Vehicle

 

Upto Rs.10 Lakhs

10.20%

Above Rs.10 Lakhs

11.20%

Pushpaka-loan  - 2 Wheeler Loans

11.70%

5

Clean Loan - Salaried Employee

13.70%

6

IOB Royal

 

Repayment Less than 4 Years

12.95%

Repayment Above 4 Years

13.70%

7

IOB Personal Loan/ Special Personal Loan to HNIs/VIPs

11.95%

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

 

(0.50% Int Concession for Women Borrowers)

 

8

Sahayika - Loan

12.45%

9

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

11.95%

 

10

LAP (Loan against Mortgage for properties)


Up to Rs 1.00 Crore

10.90%

Above Rs 1.00 Crore

11.40%

11

Liquirent - Loan against future rent receivables

 

Tenor up to 36 Months

11.40%

Tenor more than 36 Months

11.90%

12

Vidya Suraksha - Loans Upto Rs. 7.5 Lakhs

10.70%

 

Vidya Jyothi - Loan for pursuing higher education

 

13

Above Rs.7.50 Lakhs

11.70%

 

Vocational Courses

11.70%

 

Ward of Staff

10.40%

14

Vidya Shrest   - "A" Rated Institutions

8.90%

                       "B" Rated Institutions

9.40%

15

IOB Career Dream

 

v - Loan Secured by NSC, LIC, KVP etc.

11.95%

v - Loan without Security / Against Immovable Property

12.45%

16

IOB Scholar**

 

v - Up to Rs. 4 Lakhs

10.70%

v - Above Rs. 4 Lakhs

11.70%

v - Ward of Staff

10.40%

** 50 ps Concession in Interest Rate to Girl Student including Ward of Staff

 

17

Jewel Loans

 

v - Up to Rs. 3 Lakhs

10.40%

v - Above Rs. 3 Lakhs

10.90%

18

Pensioners' Loan Scheme - Loan to Pensioners for Meeting Immediate Emergency Needs

11.45%

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

10.45%

19

Reverse Mortgage

9.45%

20

IOB Surya

 

v - Scheme A -- For Individuals

9.95%

v - Scheme B -- For Institutions 

10.95%

21

IOB - Passion

11.45%

*1.00% Interest Concession if 100% Collateral Security is Provided