Indian Overseas Bank Loan interest rates · November 2026
- Every rate from the bank's own page, with a link to it
- No referral fees, no ads, no “apply now”
- Checked 15 Nov 2026
What will my home loan cost at IOB?
IOB doesn't publish its loan rates on a page we can read yet, so this starts at its repo-linked rate. Your rate is that plus a spread the bank sets.
The rates IOB's loans are linked to
A floating loan's rate is one of these plus a spread fixed when you borrow. When it moves, your EMI or your term moves at the next reset.
MCLR by reset period · from 15 Oct 2026
| Reset period | Compared | MCLR |
|---|---|---|
| Overnight | 7.95% | |
| 1 month | 8.25% | |
| 3 months | 8.50% | |
| 6 months | 8.75% | |
| 1 year | 8.90% | |
| 2 years | 8.90% | |
| 3 years | 8.95% |
A loan on MCLR resets at the end of its period, most often one year, to the MCLR then plus its spread. If yours is still on MCLR, you can ask to move it to the repo-linked rate.
Official Checked 15 Nov 2026 · Bank's own page
IOB loans: frequently asked questions
Are IOB loans linked to the repo rate?
Indian Overseas Bank's repo-linked lending rate (Repo Linked Lending Rate (RLLR)) is 8.35% from 8 Oct 2026. Floating retail loans are priced from it, plus a spread fixed when you borrow.
What is IOB's MCLR?
Indian Overseas Bank's 1-year MCLR is 8.90%, effective 15 Oct 2026. Loans taken between 2016 and 2019 and many business loans are linked to it.
Does RateScan get paid by IOB?
No. We take no referral fees, show no ads and don't take loan applications. Every figure is read from the bank's own page, which is linked from every row.
How we collect loan rates
From the bank's own pages. Every figure is read from the lending-rate page the bank publishes, and links back to it. Benchmarks are re-read every day.
A published rate is not an offer. Banks set your rate from your credit score, income, the loan amount and the property or vehicle. We show the range the bank publishes; "7.60% onwards" means the bank gave no top figure.
Benchmark plus spread. A floating loan's rate is the bank's benchmark (its repo-linked rate, or MCLR for older loans) plus a spread fixed when you borrow. When the benchmark moves, your rate moves with it at the next reset.
The EMI is worked out on a reducing balance with monthly instalments: EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where r is the yearly rate ÷ 12 and n the number of months. It leaves out processing charges and insurance.
No referral fees. We don't take loan applications or get paid by lenders, so the order is the order.
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