LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Personal Finance News

Indian Overseas Bank Loans: Rs 5 cr amount in your account in less than 1 hour

Indian Overseas Bank (IOB) has offered various retail loan products on www.psbloansin59minutes.com, an online portal for sanction of MSME loans. The 59-minute loan scheme was launched last year for the benefit of MSME.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Indian Overseas Bank Loans: Rs 5 cr amount in your account in less than 1 hour
Bank has seen an improvement in sanctioning of loans, as the number of cases and amount sanctioned shows a manifold increase since its inception. Reuters
Written By: ZeeBiz WebTeam
Edited By: Harish Dugh
Updated: Wed, Aug 14, 2019
07:38 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Lockdown in India: SBI, Indian Overseas Bank, Bank of Maharashtra cut lending rates Lockdown in India: SBI, Indian Overseas Bank, Bank of Maharashtra cut lending rates
Indian Overseas Bank launches new loan scheme - Check eligibility, know how to apply Indian Overseas Bank launches new loan scheme - Check eligibility, know how to apply
PM-Cares Fund: Modi government nominates this bank for collecting donations PM-Cares Fund: Modi government nominates this bank for collecting donations
Indian Overseas Bank to seek PCA withdrawal after posting net profit: CEO Indian Overseas Bank to seek PCA withdrawal after posting net profit: CEO
Capital infusion: Big Rs 8,655 crore shot in arm for these three banks - All you need to know Capital infusion: Big Rs 8,655 crore shot in arm for these three banks - All you need to know

Indian Overseas Bank (IOB) has offered various retail loan products on www.psbloansin59minutes.com, an online portal for sanction of MSME loans. The 59-minute loan scheme was launched last year for the benefit of MSME. It extends hassle-free loans to MSME units which are without any collateral.

Bank has seen an improvement in sanctioning of loans, as the number of cases and amount sanctioned shows a manifold increase since its inception. Also as the scheme has drawn healthy response from the borrowers, bank is in the process of extending in-principle sanction for loans up to Rs 5 crores under MSME. 

In due course of time, bank will also offer retail products (housing loan & personal loan) under this platform, anticipating the demand from the borrowers, as the bank has already reduced its MCLR by 10 to 15 basis points (bps) for different tenors, effective from August 10th followed by RBI repo rate reduction.

To further improve our rate of transmission, bank is in the process of linking retail loan products with external benchmark repo rate. By increasing the limit to Rs 5 crores for MSME segment and extending sanction to retail and personal loan segments and by linking retail products with repo rate, we are confident that there will be a substantial increase in the MSME & Retail segment of the bank and also would benefit the borrowers.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Indian Overseas Bank
RELATED NEWS
Lockdown in India: SBI, Indian Overseas Bank, Bank of Maharashtra cut lending rates Lockdown in India: SBI, Indian Overseas Bank, Bank of Maharashtra cut lending rates
Indian Overseas Bank launches new loan scheme - Check eligibility, know how to apply Indian Overseas Bank launches new loan scheme - Check eligibility, know how to apply
PM-Cares Fund: Modi government nominates this bank for collecting donations PM-Cares Fund: Modi government nominates this bank for collecting donations
Indian Overseas Bank to seek PCA withdrawal after posting net profit: CEO Indian Overseas Bank to seek PCA withdrawal after posting net profit: CEO
Capital infusion: Big Rs 8,655 crore shot in arm for these three banks - All you need to know Capital infusion: Big Rs 8,655 crore shot in arm for these three banks - All you need to know

LATEST NEWS

Aadhaar card-based driving licence service: Check step by step guide to renew your driving licence online without going to RTO

Reliance Jio low-cost laptop 'JioBook' that runs on Android coming soon; Here's all you need to know

JEE Main 2021: RUSH! March registration ends today—Here is how you can apply

Trinamool candidate list 2021: Over 20 MLAs, ministers dropped from TMC candidacy for upcoming Assembly polls

Airbag for front-seat passenger made mandatory from THIS date

Mid-Cap Picks with Anil Singhvi: Huhtamaki PPL, PNB Housing and Rallis India are stocks to buy today

In chat with Anil Singhvi, analyst Vikas Sethi picks Kotak Bank, RIL as top buys for big returns

Nickelodeon making new ''SpongeBob SquarePants'' spin-off centered on Patrick Star

Gold Price Outlook – Gold, Silver prices may see further fall next week; expert tells what to do to maximise gains

Indian economy outlook 2021: This is why FY 2021 GDP performance will be better than projection—Finance Ministry EXPLAINS

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved