Retail Credit Interest Rates

Retail Credit Interest Rates

RETAIL CREDIT SCHEMES INTEREST RATE

1 Year MCLR – 8.65%

(Effective from 07.01.2017)

 

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

 

Loan Amount

Interest Rate % p.a.(Floating)

Up to Rs. 30 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%

> Rs.30Lakhs to Rs.75 Lakhs

Repayments over 1 Year up to 5 Yrs

8.90%

Over 5 Yrs up to 10 Yrs

8.90%

More than 10 Yrs

8.90%

Above Rs. 75 Lakhs

Repayments over 1 Year up to 5 Yrs

9.15%

Over 5 Yrs up to 10 Yrs

9.15%

More than 10 Yrs

9.15%

 

S No

Name of Scheme

Int Rate

1

Pushpaka-loan  - 4 wheeler Loans - New Vehicle

9.15%

Pushpaka-loan  - 4 wheeler Loans - Used Vehicle

 

v  Upto Rs.10Lakh

10.15%

v  Above Rs.10Lakh

11.15%

Pushpaka-loan  - 2 wheeler Loans

11.65%

2

Sahayika-loan

12.40%

3

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

11.40%

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

10.40%

4

Home Décor - loan for furnishing your home.

11.40%

5

Liquirent - loan against future rent receivables

 

v Tenor up to 36 months

11.65%

v Tenor more than 36 months

12.15%

6

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

11.90%

7

Vidya Jyothi - loan for pursuing higher education

 

v Up to Rs. 4 Lacs

10.65%

v Above Rs. 4 lacs to Rs.7.50 lacs

10.65%

v Above Rs.7.50 lacs

11.65%

v Vocational Courses

11.65%

v Ward of Staff

10.35%

8

Clean Loan - Salaried Employee

13.65%

9

Easy Trade Finance - CC & Term Loan

11.40%

10

IOB Career Dream

 

v Loan Secured by NSC,LIC,KVP etc

11.90%

v Loan without security/against immovable property

12.40%

11

IOB Scholar

 

v Up to Rs. 4 Lacs

10.90%

v Above Rs. 4 lacs

11.40%

v Ward of Staff

10.60%

12

Jewel Loans

 

v Up to Rs. 3 Lacs

10.35%

v Above Rs. 3 lacs

10.85%

13

Home Improvement

 

v Up to Rs. 2 Lacs

8.85%

v Above Rs. 2 lacs

9.00%

14

IOB Personal Loan/ Special Personal Loan to HNIs/VIPs

11.90%

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

 

(0.50% Int Concession for Women Borrowers)

 

15

Reverse Mortgage

9.40%

16

IOB Surya

 

v Scheme A -- For Individuals

9.90%

v Scheme B  -- For Institutions 

10.90%

17

IOB Royal

 

v Repayment Less than 4 years

12.90%

v Repayment Above 4 years

13.65%

18

LAP – HNI (Loan against Mortgage for properties)

12.15%

19

IOB – Passion

11.40%

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

 

20

Subhagruha Topup loans

12.15%

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