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Lending_Interest_Rates

Last Updated on: 15/08/2024

Lending_Interest_Rates

Home >> Customers Corner >> Knowledge >> Interest Rates >> Lending Interest Rates

  • a. Repo Rate to be updated w.e.f 08.02.2023 as 6.50%
  • b. Markup: 2.85%
  • c. RLLR (w.e.f 08.02.2023) - 9.35%
  • d. The Effective Base Rate will be 10.00% with Effect from 15.08.2024 until further review
  • e. One Year MCLR w.e.f 15.08.2024 will be 9.00%

❱ Housing Loans:

Home Loan Interest Rate w.e.f 13.10.2023 Irrespective of the Loan Amount

Subhagruha Home Loan Including Nri Home Loan

Salaried Salaried Salaried Non Salaried Non Salaried Non Salaried
Rating Scale Rate of Interest Effective Rating Scale Rate of Interest Effective

IOB 1

RLLR-0.95%

8.40%

IOB 1

RLLR-0.85%

8.50%

IOB 2

RLLR-0.85%

8.50%

IOB 2

RLLR-0.75%

8.60%

IOB 3

RLLR -0.80%

8.55%

IOB 3

RLLR-0.70%

8.65%

IOB 4

RLLR+0.30%

9.65%

IOB 4

RLLR+0.40%

9.75%

IOB 5

RLLR+0.45%

9.80%

IOB 5

RLLR+0.55%

9.90%

IOB 6

RLLR+1.15%

10.50%

IOB 6

RLLR+1.25%

10.60%

IOB 7

Reject

Reject

Reject

Reject

Reject

*THE ABOVE RATE OF INTERST ARE APPLICABLE FOR STATE SPECIFIC HL LIKE MOGHARA, TNBLN/AHP AND AHPAP


❱ Subhagruha CC Loans

Loan Amount Rate of Interest Effective

Upto Rs. 30 Lakh

RLLR-0.55%

9.80%

Above Rs. 30 Lakh to Rs. 75 Lakh

RLLR-0.45%

9.90%

Above Rs. 75 Lakh

RLLR+0.70%

10.05%

❱ IOB Home Advantage

Rating Scale Rate of Interest Effective

IOB 1

RLLR+0.25%

9.60%

IOB 2

RLLR+0.40%

9.75%

IOB 3

RLLR+-0.50%

9.85%

IOB 4

RLLR+0.75%

10.10%

IOB 5

RLLR+0.85%

10.20%

IOB 6

RLLR-1.00%

10.35%

❱ Home Loan Top Up

Rating Scale Rate of Interest Effective

IOB 1

RLLR+0.25%

9.60%

IOB 2

RLLR+0.40%

9.75%

IOB 3

RLLR+-0.50%

9.85%

IOB 4

RLLR+0.75%

10.10%

IOB 5

RLLR+0.85%

10.20%

IOB 6

RLLR-1.00%

10.35%

❱ Home Improvement

BELOW Rs 2 Lakh

RLLR + 0.40%

9.75%

ABOVE RS 2 Lakh Upto Rs 25 Lakh

RLLR + 0.55%

9.90%

❱ Home Decor

Up to Scheme Limit

RLLR +2.95%

12.30%

❱ Vehicle Loans

For Individual Customers:

Vehicle Loan (Loan for New/ Used Cars) Interest Rate w.e.f 13.10.2023, Irrespective of the Loan Amount

TYPE CATEOGARY RATING INTEREST RATE EFFECTIVE

FOUR WHEELER
OLD/NEW

INDIVIDUALS

IOB 1

RLLR-0.50%

8.85%

IOB 2

RLLR-0.40%

8.95%

IOB 3

RLLR-0.35%

9.00%

IOB 4

RLLR+0.50%

9.85%

IOB 5

RLLR+0.70%

10.05%

IOB 6

RLLR+1.00%

10.35%

IOB 7

REJECT

NON INDVIDUALS (if External rating is available)

EXTERNAL RATING AAA TO A

RLLR-0.50%

8.85%

EXTERNAL RATING BBB

RLLR+0.70%

10.05%

EXTERNAL RATING BELOW BBB

REJECT

NON INDIVIDUALS (if external rating is not available)

IOB 1 TO IOB 3

RLLR-0.50%

8.85%

IOB 4

RLLR-0.35%

9.00%

IOB 5

RLLR+0.70%

10.05%

IOB 6

RLLR+1.00%

10.35%

IOB 7

REJECT

Two-Wheeler Loan Interest Rates: RLLR+0.40+1.25=11% Presently


❱ Education Loans

VIDYA JYOTHI

TYPE RATE OF INTEREST EFFECTIVE
INTEREST RATE FOR PUBLIC RLLR +1.65% 11.00%
INTEREST RATE FOR WARDS OF STAFF AND RETIRED STAFF RLLR +0.40% 9.75%

CONCESSIONS

DETAILS CONCESSION
GIRL STUDENT 0.50%
FOR INTEREST SERVICED DURING MORATORIUM 1.00%
STUDY IN INDIA
INSTITUTES RANKED UP TO 20 1.50%
INSTITUTES RANKED FROM 21 TO 50 1.00%
STUDY ABROAD
INSTITUTES RANKED UPTO 100 1.50%
INSTITUTES RANKED 101 TO 200 1.00%

VIDYA SURAKSHA

TYPE RATE OF INTEREST EFFECTIVE
LOAN ONLY UP TO Rs 7.50 Lakh RLLR +1.65% 11.00%

VIDYA SHRESHT

TYPE RATE OF INTEREST EFFECTIVE
A RATED INSTITUTIONS RLLR +0.40% 9.75%
B RATED INSTITUTIONS RLLR +0.90% 10.25%

IOB SCHOLAR

TYPE RATE OF INTEREST EFFECTIVE
LOAN UP TO Rs. 7.50 Lakh RLLR +2.20% 11.55%
ABOVE Rs. 7.50 lakhs UP TO Rs. 60 lAKH RLLR +3.20% 12.55%
IOB SCHOLAR TO STAFF WARD UP TO Rs. 60 lakhs RLLR +1.90% 11.25%

Other Schemes

NAME OF THE SCHEME RATE OF INTEREST EFFECTIVE
SKILL LOAN RLLR +1.50% 10.85%
VOCATIONAL LOANS RLLR +3.20% 12.55%
IOB CAREER DREAM UPTO Rs 2 Lakh BY LIQUID SECURITY RLLR +3.45% 12.50%
IOB CAREER DREAM ABOVE Rs 2 Lakh SECURED BY IMMOVABLE RLLR +3.65% 13.00%
BIHAR STUDENT CREDIT CARD SCHEME UP TO RS 4.00 LAKH RLLR +2.20% 11.55%

❱ Personal Loans

CATEGORY A

CIC SCORE

RATE OF INTEREST

EFFECTIVE

 

775 AND ABOVE

RLLR +1.50%

10.85%

 

700 LESS THAN 775

RLLR +2.00%

11.35%

 

600 AND ABOVE LESS THAN 700 OR -1,NO HISTORY

RLLR+2.50%

11.85%

 

CATEGORY B

CIC SCORE

RATE OF INTEREST

EFFECTIVE

775 AND ABOVE

RLLR +2.00%

11.35%

700 LESS THAN 775

RLLR +2.50%

11.85%

600 AND ABOVE LESS THAN 700 OR -1,NO HISTORY

RLLR+3.00%

12.35%

CATEGORY C

CIC SCORE

RATE OF INTEREST

EFFECTIVE

775 AND ABOVE

RLLR +2.50%

11.85%

700 LESS THAN 775

RLLR+3.00%

12.35%

600 AND ABOVE LESS THAN 700 OR -1,NO HISTORY

RLLR+3.50%

12.85%

PERSONAL LOAN HNI

TENURE OF LOAN RATE OF INTEREST EFFECTIVE
REPAYMENT LESS THAN 4 YEARS RLLR +3.15% 12.50%
REPAYMENT ABOVE 4 YEARS RLLR +3.65% 13.00%

PERSONAL LOAN TOP UP

CIC SCORE RATE OF INTEREST EFFECTIVE
755 AND ABOVE RLLR +2.15% 11.50%
700 AND ABVOE LESS THAN 755 RLLR+2.65% 12.00%

❱ Other Mortgaged Based Loans

Loan Against Property:

INDIVIDUAL BORROWERS:

CIBIL/CRIF Other CIC Score Revised Interest Rates
LAP Term Loan LAP- CC*
Interest Rate Effective ROI % Interest Rate Effective ROI %

750 and Above

RLLR+0.20(SP)+ 0.55(RP)

10.10

RLLR+0.20(SP)+ 0.80(RP)

10.35

700 to 749

RLLR+0.20(SP)+ 0.75(RP)

10.30

RLLR+0.20(SP)+1.00(RP)

10.55

650 to 699

RLLR+0.20(SP)+ 1.15(RP)

10.70

RLLR+0.20(SP)+1.40(RP)

10.95

649 & below

RLLR+0.20(SP)+ 1.65(RP)

11.20

RLLR+0.20(SP)+2.00(RP)

11.55

NTC/No Credit Score and -1 or Similar

RLLR+0.20(SP)+ 0.75(RP)

10.30

RLLR+0.20(SP)+1.00(RP)

10.55

*Applicable only for Individual Salaried Borrowers


NON-INDIVIDUAL BORROWERS: (LAP-Term Loan)

If External Rating is Available:

Rating Scale Interest Rate Effective ROI %

AAA to AA

RLLR+0.20(SP)+0.55(RP)

10.10

A

RLLR+0.20(SP)+0.75(RP)

10.30

BBB

RLLR+0.20(SP)+0.95(RP)

10.50

Below BBB

Reject

If External Rating is Not Available:

Rating Scale Interest Rate Effective ROI %

IOB 1 to IOB 3

RLLR+0.20(SP)+0.70(RP)

10.25

IOB 4

RLLR+0.20(SP)+1.15(RP)

10.70

IOB 5

RLLR+0.20(SP)+1.55(RP)

11.10

IOB 6

RLLR+0.20(SP)+1.75(RP)

11.30

IOB 7

RLLR+0.20(SP)+2.00(RP)

11.55

IOB 8-10

Reject

LIQUIRENT:

TENOR RATE OF INTEREST EFFECTIVE
UP TO 36 MONTHS MCLR +1.85% 10.85%
ABOVE 36 MOTNHS MCLR +2.35% 11.35%

❱ Other Retail Loans

Name of the Scheme Type CIC Score Rate of Interest Effective

IOB SURYA

INDIVIDUALS

750 AND ABOVE

RLLR

9.35%

 

700 AND 749

RLLR +0.50%

9.85%

 

650 TO 699

RLLR +1.00%

10.35%

NON INDIVIDUALS

 

RLLR + 1.15%

10.50%

STAFF

 

RLLR

9.35%

IOB HL SURYA

INDIVIDUALS

 

RLLR

9.35%

JEWEL LOAN OTHERS

UPTO Rs. 50.00 Lakhs

 

RLLR -0.50%

8.85%

AKSHAY

 

 

MCLR +3.25%

12.25%

SAHAYIKA

UP TO Rs. 10 Lakh

 

MCLR+3.75%

12.75%

IOB PASSION

NO COLLATERAL

 

MCLR+2.75%

11.75%

IOB PASSION

1005 SECURITY

 

MCLR+1.75%

10.75%

PENSION LOAN

OTHER THAN STAFF

 

MCLR+1.75%

10.75%

PENSION LOAN AND FESTIVAL ADV

STAFF F

MCLR+1.75%

10.75%

CONSUMER LOAN

TYPE RATE OF INTEREST EFFECTIVE
WITH COLLATERAL MCLR +2.25% 11.25%
WITHOUT COLLATERAL MCLR +3.25% 12.25%
WOMENS BORROWER MCLR+2.75% 11.75%

LOAN AGAINST SOVEREIGN GOLD BOND

TYPE RATE OF INTEREST EFFECTIVE
DEMAND LOAN RLLR +0.50% 9.85%
TERM LOAN RLLR +1.00% 10.35%
PREAPPROVED PERSONAL LOAN INSTANT RLLR +3.15% 12.50%

❱ Fixed Rate of Interest

SR. NO. SCHEME FIXED RATE OF INTEREST

1

HOUSING LOANS

11%

2

HOME ADVANTAGE

12%

3

HOUSING LOAN TOP UP

12%

4

HOME DÉCOR

13%

5

HOME IMPROVEMENT

12%

6

VEHICLE LOAN (4 Wheeler)

12%

7

VEHICLE LOAN (2 Wheeler)

13%

8

PERSONAL LOANS

14%

9

PERSONAL LOAN TOP UP

14%

10

EDUCATION AND ALLIED SCHEMES

13%

11

LOAN AGAISNT PROPERTY

13%

12

EMI BASED JL

11%

13

LOAN AGAINST SGB(EMI BASED)

12%

14

LOAN AGAISNT NSC/KVP/LIC AND OTHER MIS LIQUID SECURITIES

14%

15

PENSIONER LOAN

14%

16

IOB SURYA

14%