#1
July 6th, 2017, 02:23 PM
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IOB Bank Personal Loan
My father wants to apply for Personal Loan at Branch of Indian Overseas Bank (IOB). He wants to know about eligibility to apply for Personal Loan at Indian Overseas Bank (IOB). So please provide information about this Loan?
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#2
July 6th, 2017, 02:49 PM
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Re: IOB Bank Personal Loan
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: |
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