This work presents a two-element multiple-input multiple-output (MIMO) antenna for IoT applications. A single antenna element is designed with wideband characteristics covering 4.2 to 7.5 GHz and is arranged in a perpendicular configuration to realize MIMO structure. The proposed design configuration exhibits good isolation without using decoupler with 47% fractional bandwidth and gain up to 5.1 dB. The presented structure has acceptable values for Envelope Correlation Coefficient (ECC), Diversity Gain (DG) and good isolation less than -26 dB. Being a low-cost solution, proposed design is suitable candidate for IoT application operating in 4-7.8 GHz, in particular, for 5-6 GHz, 4.70-6.19 GHz and 5.5-5.7 GHz operating bands.