How to Apply Personal Loan in IOB?

A few months ago I needed to apply for an instant personal loan because I needed to buy a car for my family. I chose IOB for the process. But I was still a little unclear on the application process, so I looked it up on their official website. I found out how to apply personal loan in IOB. Applying for a personal loan from Indian Overseas Bank (IOB) is a simple process that I found quite manageable. Here’s how I navigated it. 

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How to Apply IOB Personal Loan?

• I started by making sure I met the requirements, which included having a steady income and being either a salaried employee or a self-employed person. Generally, IOB demands a minimum monthly pay of Rs.15,000.

• I then gathered the required paperwork, which included evidence of identity (like my PAN card), proof of address (like an electricity bill), and proof of income (like my most recent salary slip). The application process went much more smoothly when these documents were prepared.

• After that, I went to the

  IOB website

  to complete the online application, by clicking on the Apply now button. The forms are usually user-friendly so you shouldn’t have trouble entering your information. I was notified of the processing schedule and received an acknowledgement after submitting the application. 

The bank aims for fast processing, and in my case, I was approved in a matter of days. The loan amount was deposited straight into my bank account when it was approved. So, if you're thinking about applying for a personal loan via IOB, these steps will make the process go more smoothly. I hope this helps you understand how to apply personal loan in Indian Overseas Bank.

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I requested for a personal loan of INR 6 lakh for my daughter's wedding with Indian Overseas Bank (IOB) six months ago. Hence, I am aware of the IOB personal loan apply online process. You can apply for a personal loan (clean loan) up to Rs 15 lakhs from the official website of IOB. Below, I have included the necessary documents and a thorough walkthrough of the steps.

What are the Required Documents for IOB Personal Loan Application?

Let me tell you that if you need financial assistance, applying online for a personal loan from IOB bank could be an easy and quick solution. All you have to do is keep the following documents ready before applying for the personal loan:

• Valid registered mobile number and email id

• Address proof

• ID proof (i.e. PAN card/Aadhar Card/Passport copy/Voter ID etc.) 

• Employment proof

• Last 6 month’s salary receipt

• Photograph

IOB Bank Personal Loan Apply Online Process

• Visit

  https://www.iob.in/Apply-Online

  .

• Scroll down and tap on “Apply Online” link available in front of the Personal Loan section.

• Click on “Check Eligibility” to ensure that you meet the requirements.

• After you have made sure you meet the eligibility requirements, click the “Apply Now” button under Apply for Loan.

• Now, enter your valid mobile number.

• Input the Captcha as displayed in the box.

• Tick the declaration and click on Continue.

• Fill out all the required details and upload the necessary documents.

• Finally, click the Submit button to complete the application process.

The bank will process your loan and notify you of its status as soon as your application is received. This is all about how to apply personal loan in IOB online.