Indian Bank personal loan is an unsecured loan you can use to meet different expenses. Indian Bank is Indian state owned company that provides financial services to its customers. It is a popular public sector bank in India. It offers personal loan to its customers so that they can meet their expenses like medical, educational, marriage or other expenses.
Our website, Loanbaba.com will provide you all details about personal loan Indian Bank.
| Indian Bank Personal Loan Details Updated on | |
|
Loan Amount |
Maximum Rs. 5 lakhs |
|
Loan Tenure |
12 months to 36 months |
|
Interest Rate |
14.35% to 14.85% |
The following key points will help you understand the features and benefits of the personal loans:
|
Processing charges |
0.5 % of the amount of loan with 510 rupees maximum |
|
Duration of loan |
Three years |
|
Requirement of guarantor |
Yes |
The bank offers various personal loan products to cater the requirements of an individual.
Below given are the types of personal loans provided by the bank:
The age of the applicant should be between 18 years to 60 years to apply for this loan. One may apply for the amount that is sixty times of the Net Income per month or thirty-six times of the Gross Income per month (whatever is high). If the house needs to be repaired or renovated, then a maximum of five lakh rupees can be availed.
The Group Insurance Life Coverage is availed by the customers at premiums/ rates with concession. The premium payouts will be given by the applicant.
The bank won’t finance the premium under the home loan. It will be financed as a different loan.
The customer can avail this loan for buying a new 2 or 4 wheeler, or a second-hand 4 wheeler but it should not be older than three years when a reputed automobile engineer certifies it .
Amount of loan- The customer can get up to ten lakh rupees to buy a 2 wheeler and up to 200 lakh rupees to buy a 4 Wheeler.
The customer can avail a plot loan to buy a House Site on the basis of ownership in a layout approved by Competent Authority.
Amount of loan: The customer can get up to 300 lakh rupees depending on the area on which the property is being bought (for example in rural, semi urban or metro area etc.)
One should be the term deposit holder at the bank to avail this loan.
Amount of loan: Ninety percent of the deposit’s accrued value.
Margin: Ten percent of the deposit’s accrued value
Amount of loan: one can get a maximum of 200 lakh rupees loan. The loan can be repaid in 84 instalments maximum. Holiday duration won’t be applied for the loan.
Loanbaba provides comprehensive information about personal loan schemes by Indian Bank. Keep a note of this page to stay updated with recent information on this bank loan scheme. You can also quickly apply for this loan online on the bank's official website without having to visit the bank branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.
Personal Loan Indian Bank interest rate ranges between 14.35% and 14.85%but varies as per individual profile. Keep a check on this page to note the updated Indian Bankpersonal loan interest rate for the current year.
Personal loan eligibility may differ from one candidate to another. You can also use free-of-cost Indian Bank personal loan eligibility calculator at Loanbaba.com. The eligibility criteria for Indian Bank personal loan are discussed below:
Indian Bank has personal loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.
Below provided are important questions about personal loan Indian Bank.
The processing fee is 0.50 percent of loan amount. The maximum amount charged is Rs.510.
For personal loan from Indian bank, a guarantor is required.
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Indian Bank.
I stand by with Indian Bank for the personal loan in Mumbai. My experience was nice. Verification process was also done in time and I received the amount within a short time.
Priyadarshani. C
Personal loan in Pune was approved by Indian bank at a great interest rate! I was able to secure the loan for a desirable tenure.
Ipshita Banerjee
As I was holding a savings account with Indian bank they gave me personal loan for which the entire documentation process was very less. It was a quick disbursement procedure.
Manish Singh
Taking personal loan in Gujrat by Indian bank through online portal of loanbaba was after all not a bad idea. This way I could communicate with the Indian without having to come over to their branch. All by documentation was sorted and I got the loan in decent time.
Shipra Mehra
