Indian Bank Personal Loan | Interest rates | Eligibility | Information

Thursday, January 1st, 2015

Indian Bank Personal Loan: Compare online interest rates of personal loans of Indian bank, Indian Banks provides loans as Consumer loan, Salary loan, Smart Loan, Loan to LIC Agents, Doctors loan, Self employed loans, pension loans.



Compare Personal Loan Rates – Eligibility – Process of Top 10 Banks.

Professional Details
Loan Amount:

Occupation:

Annual Income:

City:

Purpose / Objective For meeting Marriage/Educational and medical expenses, to celebrate family functions and for other household expenses
Target Group Permanent Employees with minimum service/ experience of three years with Govt./Quasi -Govt./ Boards/ Endowments/ reputed companies/ Corporate Industrial Establishments etc. with minimum take home pay of 40% of gross salary after servicing the proposed EMI.

Eligibility

Permanent Employees with minimum service/ experience of three years with Govt./Quasi -Govt./ Boards/ Endowments/ reputed companies/ Corporate Industrial Establishments etc. with minimum take home pay of 40% of gross salary after servicing the proposed EMI.
Amount of Loan Eligible amount is calculated @ five times the gross salary (maximum of Rs.50000/-) for account holders whose salary is credited in the branch account or @7 times of gross salary (maximum Rs.1 lakh) with employer sponsorship with undertaking letter from the employer to recover EMI from salary and remit to Bank.
Margin Nil
Interest Rates Please see the this page for Interest rates
Processing fee 0.50% on the loan amount with min of Rs 500/-
Repayment 36 Equated Monthly Instalments (EMI)
Security a). Employer’s sponsorship (b). Authorisation to debit SB account or (c). Third party guarantee and/or Encashable collateral security, (d)Post dated cheques

Documents to be submitted for processing the application

Proof of employment and salary certificate (salary credit to SB account with branch or employer’s undertaking to recover EMI and remit to bank)———————–
The following documents to be obtained in case of individual borrowers who approach for loan under this scheme directly without employer sponsorship or salary credit . Salary Certificate for self for 6 months IT returns/Form 16 for 3 years from the individual borrowers.. Statement of account for the past 6 months. Post dated cheques to be obtained. Suitable third party guarantee is desirable.

Other Variable Rate Personal Segment Loan Products

Product Interest Rates
(BR+Spread+TP)
Pension Loan – Repayment below 36 months BR+3.00+0.50 = 14.00 %
Pension Loan – Repayment of 36 months BR+3.50+0.50 = 14.50 %
Loan against NSC/KVP/LIC Policy/ RBI Relief Bonds (for individuals) BR+2.50+1 = 14.00 %
Overdraft against NSC/KVP/LIC policy/RBI Relief Bonds (for individuals) BR+3.00+1 = 14.50 %
IB Rentencash BR+4.00+1.50 = 16.00 %
Ind Mortgage BR+4.75+1.50 = 16.75 %
Van/Bus to Educational Institutions BR+4.25+1 = 15.75 %
Loan to LIC Agents BR+5.25+1 = 16.75 %
IB Bhavishya Prakash BR+2.75+1 = 14.25 %
IB Balavidya BR+2.75+0.50 = 13.75 %
Ind Share – ESOP
To be considered on case
to case basis

Check Faqs about Personal loan Here and Know more personal loan

Source: Indian Bank Website

 

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Disclaimer: This information is sourced from Bank's Website to help customers to gain information on Banks product.
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