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FAQs
What is the interest rate for a 3 lakh loan in IOB? ›
3 lakh from Indian Overseas Bank at an effective interest rate of 11.75% p.a. If the processing fee on your loan is 0.40%, the repayment details for different tenures are as follows: Rs. 3 lakh @11.75% p.a.
What is the cibil score for IOB? ›One should have a minimum CIBIL score of 600 and above to avail a personal loan.
What is the base rate of interest in IOB? ›| Rating Scale | Rate of Interest | Effective |
|---|---|---|
| IOB 1 | RLLR+0.25% | 9.60% |
| IOB 4 | RLLR+0.75% | 10.10% |
| IOB 5 | RLLR+0.85% | 10.20% |
| IOB 6 | RLLR-1.00% | 10.35% |
Aug 15, 2024
Interest Rate for IOB Tax Saver Deposit will remain unchanged at 6.50%. For Senior Citizens (aged 60 Years and above), Additional interest rate of 0.50% and for Super Senior Citizens (aged 80 years and above), Additional interest rate of 0.75% continues.
Which bank is best for a home loan with low interest? ›Top 10 Banks Offering Lowest Home Loan Interest Rates in 2024
| Name of the Bank | Interest Rate Per Annum* |
|---|---|
| HDFC Bank | 8.75% - 9.95% |
| ICICI Bank | 8.90% - 12.05% |
| Punjab National Bank | 9.40% - 12.10% |
| Tamilnad Mercantile Bank | 9.45% - 9.95% |
Jul 30, 2024
Monthly Interest for a Fixed Deposit of ₹3 Lakhs
| Deposit Amount | Interest Rate (p.a.) | Monthly Interest Payout |
|---|---|---|
| ₹3 Lakhs | 8.00% | ₹2,000 |
| ₹3 Lakhs | 8.50% | ₹2,125 |
| ₹3 Lakhs | 9.00% | ₹2,250 |
| ₹3 Lakhs | 9.50% | ₹2,375 |
Eligibility
- Age – minimum age 25 years, maximum age 60 years (at time of maturity of the loan)
- Income – minimum regular income Rs. 75,000.
- Work experience – 2 years of service in the same organization.
While achieving a CIBIL Score of 900 is technically possible, it is extremely rare. Scores above 760 are considered very good or exceptional, providing significant benefits such as lower interest rates and higher chances of loan approval.
How much can I borrow with a 700 credit score? ›You can borrow from $1,000 to $100,000 or more with a 700 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.
What is the processing fee for IOB loan? ›The processing fee is charged at the rate of 0.57% of the loan amount, up to a maximum of Rs. 15,000. e. The rate of interest applicable is the same as the table provided in the interest rate section in this article.
Which deposit scheme is best in IOB? ›
The highest Indian Overseas Bank FD rates for general citizens is 7.3% p.a. and 7.8% p.a. for senior citizens. What is the highest interest rate on Indian Overseas Bank 1 year FD scheme? The highest interest rate on Indian Overseas Bank 1 year FD scheme is 6.9% p.a.
What is recurring interest rate in IOB? ›Indian Overseas Bank RD Interest Rates Sept 2024
| Tenure | Normal Citizen RD Rate | Senior Citizen RD Rate |
|---|---|---|
| 9 Months to 1 Year | 5.35% | 5.85% |
| 1 Year to 2 Years | 6.50% | 7.00% |
| 2 Years to 3 Years | 6.80% | 7.30% |
| 3 Years to 5 Years | 6.50% | 7.00% |
Features of the Senior Citizen Savings Scheme
Maturity term is 5 years, and it is extendable by 3 years. Nominations can be made in favour of more than one person. Account can be opened both on an individual basis and with a co-applicant. Premature withdrawal can be made against a penalty of 1.5%.
As of 2024, Canara Bank offers the highest interest rate of 7.25% for 444 days. Q4. Can I withdraw from a Tax Saver Term Deposit early? No, you cannot remove a tax-saver term deposit early because it has a 5-year lock-in period.
What is senior citizen SBI interest rates? ›Revised SBI Retail Domestic Term Deposits Interest Rates 2024 (Below Rs. 3 crore)
| Tenure | General Public FD Rate | Senior Citizens FD Rate |
|---|---|---|
| 7 days to 45 days | 3.50% | 4.00% |
| 46 days to 179 days | 5.50% | 6.00% |
| 180 days to 210 days | 6.25% | 6.75% |
| 211 days to less than 1 year | 6.50% | 7.00% |
The EMI for Rs 3 lakhs personal loan for different loan tenure at 13% rate of interest are- 1 year- ₹ 26,795, 2 year- ₹ 14,263, 3 year- ₹ 10,108, 4 year- ₹ 8,048, and 5 year- ₹6,826.
What is the personal loan interest rate in IOB Bank? ›IOB Personal Loan - Interest Rate @10.85%, Low EMI.
What is the interest of 3 lakh in SBI? ›What is the lowest EMI offered by SBI on Personal loans?
| Interest Rate of 11.15% | Interest Rate of 13.60% |
|---|---|
| 1 Lakh Loan Amount - INR 2,182 p.m. | 1 Lakh Loan Amount - INR 2,306 p.m. |
| 3 Lakhs Loan Amount - INR 6,545 p.m. | 3 Lakhs Loan Amount - INR 6,918 p.m. |
| 5 Lakhs Loan Amount - INR 10,909 p.m. | 5 Lakhs Loan Amount - INR 11,531 p.m. |
What is the lowest EMI offered by HDFC on a Personal loan?
| Interest Rate of 10.25% | Interest Rate of 17% |
|---|---|
| 3 Lakhs Loan Amount - INR 6,411 p.m. | 3 Lakhs Loan Amount - INR 7,456 p.m. |
| 5 Lakhs Loan Amount - INR 10,685 p.m. | 5 Lakhs Loan Amount - INR 12,426 p.m. |
| 7 Lakhs Loan Amount - INR 14,959 p.m | 7 Lakhs Loan Amount - INR 17,397 p.m. |