Looking for a Small Business Loan from Indian Overseas Bank?

This page contains all the information you need to make a sensible and sound decision.

MSME Loans from Indian Overseas Bank

Being one of the public sector banks in India, Indian Overseas Bank (IOB) offers a range of finance products to different segments of its customer base including its retail, corporate, NRI and MSME customers. As of now, Indian Overseas Bank offers thirteen loan schemes to its MSME customers. These loans are designed for small businesses in different sectors to meet their working capital and other needs to run the operations smoothly.

The MSME loans from Indian Overseas Bank are:

  1. Term Loan
  2. IOB SME Easy Loan (Working Capital Loan)
  3. IOB Micro One
  4. IOB MSE Plus
  5. IOB SME Mahila Plus
  6. Loans for Professionals and Self-Employed
  7. Sanjeevani Scheme for Doctors
  8. IOB Engineer Scheme
  9. IOB CA Scheme
  10. Stand-Up India Loan
  11. Weaver’s Mudra Loan
  12. Mudra Loan

We give you a brief introduction to each of these IOB MSME loans below. In addition you have the option to click further and read in detail about each loan on a specific page of its own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format. In case information is less or not available, we have been not been able to create an information page as yet, but we may do so in the course of the next few months.

Indian Overseas Bank IOB Term Loan

This loan helps businesses in the Micro, Small and Medium Enterprises (MSME) sector meet their capital expenditure requirements. This is a need-based loan.

Features of Indian Overseas Bank IOB Term Loan

Why this Loan?

  • This IOB Term Loan for MSMEs is meant for all types of businesses in the MSME sector who need financial assistance to meet their business expansion and growth-related activities
  • The bank offers collateral-free loans up to Rs. 10 lakh
  • This loan can be availed for the purpose of acquisition of long-term fixed assets for business such as land, building, etc. as well as for setting up, expansion or modernisation of existing units

Indian Overseas Bank IOB SME Easy Loan

This loan scheme is designed to provide financial assistance to traders in the MSME sector to help them finance their everyday operations such as for investment in current assets, purchase of raw materials, salary payments, power charges, etc.


Features of IOB SME Easy Loan

Why this Loan?

  • The Indian Overseas Bank IOB SME Easy Loan can be taken by traders in the MSME sector for all projects and activities related to running the business on a day-to-day basis
  • The maximum loan amount sanctioned under this loan scheme is Rs. 5 crore

Indian Overseas Bank IOB Micro One Loan

This loan helps businesses in the Micro Enterprises sector meet their capital expenditure and working capital requirements. New connections in the manufacturing and services sectors that fit the micro-enterprise definition are eligible for this loan.

Features of IOB Micro One Loan

Why this Loan?


  • This Indian Overseas Bank IOB Micro One Loan is meant for micro-businesses who need financial assistance to meet their working capital and capital expenditure needs
  • Only businesses in the manufacturing and service sectors that are seeking financial assistance are eligible for this loan

Indian Overseas Bank IOB MSE Plus Loan

This loan helps businesses in the Small and Micro Enterprises (SME) sector meet their capital expenditure and working capital requirements. Proprietorships, partnerships and limited companies in the manufacturing and services sector that fit SME definition are eligible for this loan.

Features of IND IOB MSE Plus Loan

Why this Loan?

  • This Indian Overseas Bank IOB MSE Plus Loan is meant for small businesses in the SME sector who need financial assistance to meet their working capital and capital expenditure needs
  • Only businesses in the manufacturing and service sectors that are seeking financial assistance are eligible for this loan

Indian Overseas Bank IOB SME Mahila Plus Loan

This loan helps women who want to set up Micro and Small Enterprises fulfil their Working Capital and Capital Expenditure needs. The maximum loan amount sanctioned under this loan is Rs. 2 crore. This loan scheme is one of the bank’s initiatives to empower and encourage women to engage in income-generating activities.

Features of IOB SME Mahila Plus

Why this Loan?

  • The Indian Overseas Bank IOB SME Mahila Plus is meant for small businesses in the MSE sector run by women to finance their capital requirements
  • The loan can be availed to set up businesses in the manufacturing and service sectors where the management is controlled by women and partnerships where a majority of partners are women

Indian Overseas Bank IOB Loans for Professional and Self-Employed

This loan helps Architects, Engineers, Lawyers, Dentists, CA, CS, Craftsmen, Management Consultants, etc. purchase of office, equipment, construction of office, expansion of unit, etc. Term loans are need-based and the maximum loan amount depends on the needs as well as the repayment capacity of the borrower.

Features of IOB Loans for Professional and Self-Employed

Why this Loan?

  • The IOB Loans for Professional and Self-Employed is meant for CA, CS, Architects, Lawyers, Engineers, etc. for purchase or construction of office, purchase or upgrade of equipment, expansion of unit, etc.
  • This is a need-based loan and the maximum loan amount sanctioned under this loan depends on the needs and repayment capacity of the borrower

Indian Overseas Bank IOB Sanjeevani Loan

This loan helps doctors and medical practitioners meet their working capital requirements or capital expenditure right from setting up a clinic, nursing home, hospital, pathology labs, etc. to purchase of equipment, vehicles, ambulance, etc. The maximum loan amount is Rs. 5 crore.

Features of IOB Sanjeevani Loan Scheme

Why this Loan?

  • This Indian Overseas Bank Sanjeevani Loan is meant for medical practitioners who need financial assistance in fulfilling their working capital and capital expenditure needs
  • Qualified Medical practitioners from different branches of medicine such as Allopathy, Homeopathy, Unani, Ayurveda, etc. are eligible for this loan if they have experience in running the business. Individuals, Proprietors, LLPs, Trusts and Companies can also avail this loan. The minimum qualification is MBBS, BAMS, BDS, BHMS, etc.

Indian Overseas Bank IOB Engineer Loan

This loan helps civil engineers meet their working capital requirements or capital expenditure right from setting up an office, purchase office equipment, machinery, etc. This is a need-based loan. The bank offers collateral-free loans up to Rs. 10 lakh.

Features of IOB Bank IOB Engineer Loan

Why this Loan?

  • This Indian Overseas Bank IOB Engineer Loan is meant for civil engineers who need financial assistance in fulfilling their working capital and capital expenditure needs
  • Qualified civil engineers are eligible for this loan if they have experience in running the business. Individuals, Proprietors, Partnership firms and LLPs can also avail this loan

Indian Overseas Bank IOB CA Loan Scheme

This loan helps Chartered Accountants (CA) meet their working capital requirements or capital expenditure right from setting up an office, purchase office equipment, machinery, etc. This is a need-based loan. The bank offers collateral-free loans up to Rs. 10 lakh.

Features of IOB Bank IOB CA Loan Scheme

Why this Loan?

  • This Indian Overseas Bank IOB CA Loan is meant for CAs who need financial assistance in fulfilling their working capital and capital expenditure needs
  • Qualified Chartered Accountants are eligible for this loan if they have experience in running the business. Individuals, Proprietors, Partnership firms and LLPs can also avail this loan

Indian Overseas Bank Stand-up India Loan Scheme

This loan is designed to help women and SC/ST entrepreneurs set up greenfield enterprises in India. Greenfield enterprises eligible for this loan scheme are all first-time ventures of women and SC/ST beneficiaries in the manufacturing, trading and services sector. The maximum loan amount for this loan is Rs. 1 crore.

Features of Stand-Up India Loan

Why this Loan?

  • This loan is meant for encouraging people from the SC/ST category and women entrepreneurs to set up greenfield enterprises in the manufacturing, services or trading sectors. In the case of non-individual enterprises, at least 51% of the company stakes should be held by women or people in the SC/ST category
  • The maximum loan amount for the Indian Overseas Bank Stand-up India loan is Rs. 1 crore

Indian Overseas Bank IOB Weaver Mudra Loan Scheme

This loan helps weavers get the funds to meet their working capital and capital expenditure needs. The maximum loan amount is Rs. 10 lakh.

Features of Indian Overseas Bank IOB Weaver Mudra Loan Scheme

Why this Loan?

  • The loan is meant for weavers in the MSME sector get funds to meet their working capital needs
  • The Indian Overseas Bank Weaver’s Mudra Loan is extended as an Overdraft (OD) or Cash Credit facility based on the needs of the borrower

Indian Overseas Bank Mudra Loan Scheme

This loan helps unfunded individuals, proprietors, partnerships running small manufacturing units, fruit and vegetable shops, food service units, repair shops, small industries, machine operators, truck operators, etc. get funds for their needs. The maximum loan amount is Rs. 10 lakh.

Features of Indian Overseas Bank Pradhan Mantri Mudra Yojana (PMMY)

Why this Loan?

  • The loan is meant for Non-corporate Small Business Segment to get funds to meet their Working Capital needs
  • The Indian Overseas Bank Mudra Loan is divided into three variants depending on the type and size of business, namely Shishu, Kishore and Tarun. The quantum of loan depends on the loan variant applicable to the business

Important Note: Even though the bank’s website has information available for fewer loan schemes at this time, there is a possibility that the bank may offer more loan options that are not yet published on the website. We suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, strategic premium, etc. may be decided on a case-to-case basis.

Interest Rate

  • The interest rate for Indian Overseas Bank MSME Loans is not mentioned on the bank’s website. Please get in touch with the bank for this information when you apply

Note: Please get in touch with the bank representatives to know the interest rate applicable to any particular loan scheme.

Documents Needed for Individuals

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report

Documents Needed for Proprietorship and Partnership Firms

  • Loan Application Form duly filled and signed
  • Partnership Deed and Partnership Registration Certificate
  • ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
  • Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
  • Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
  • Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References

Documents Needed for Private Limited and Public Limited Companies

  • Application Form duly filled and signed
  • Company ID Proof: Company’s PAN Card
  • Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
  • Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
  • Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
  • Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References

Reference Facts

  • Indian Overseas Bank Website: www.iob.in and www.iobnet.co.in (net banking)
  • Headquarters: Chennai, Tamil Nadu
  • Call Centre Toll-Free Number: 1800 425 4445