I am providing information about Personal Loan offering by Indian Overseas Bank (IOB) for your reference:

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.

Repayment
Maximum Repayable is 60 equated monthly installments without holiday period.

Security
Hypothentication on purchase of articles out of loan and a suitable 3rdparty guarantee
Processing charges

Interest Rates:
Loan Amount Interest Rate % p.a.(Floating)
Up to Rs. 30 Lakhs
Repayments over 1 Year up to 5 Yrs 8.55%
Over 5 Yrs up to 10 Yrs 8.55%
More than 10 Yrs 8.55%

> Rs.30Lakhs to Rs.75 Lakhs
Repayments over 1 Year up to 5 Yrs 8.80%
Over 5 Yrs up to 10 Yrs 8.80%
More than 10 Yrs 8.80%

Above Rs. 75 Lakhs
Repayments over 1 Year up to 5 Yrs 9.05%
Over 5 Yrs up to 10 Yrs 9.05%
More than 10 Yrs 9.05%

Processing Charges:

Attached Files

Processing Charges.doc (233.5 KB, 117 views)