Apply for Corporation Bank Personal Loan online at Lower Interest Rate:
Corporation bank is a public sector banking Services Company established in Mangalore, India. Corporation bank came in to banking sector as Canara bank by innovating efforts of group of people. It has a broader network of 2200 branches and 1800 + ATMs across India.
Its motto is â€œprosperity for allâ€ professed by it in its day to day operations.
Amount of Loan:
- Corporation bank offers personal loans to salaried people to meet their genuine personal expenses.
Eligibility for Personal loan in corporation bank:
- Permanent employees of central Government, state government offices, Profit making public sector undertakings, Public limited companies, Schools and Colleges.
- Employees whose salary is routed through the corporation bank
- Pensioners drawing pension through the corporation bank
- Other than salaried class having regular dealings with the branch
- Minimum loan amount: .10 lakh
- Maximum loan amount: 2.50 lakh
- Employee salary gets credited in to its branch, then loan up to 9 months NET salary
- Pensioners withdraw the salary through the branch â€“ Loan up to 10 months NET salary
- If employees those who have income other than salary/pension: Loan up to 25% of the gross annual income.
- Suitable co-applicant, third party to be given as security by the loan applicant
Rate of interest:
- For salary and pensioner account holders: 13.55%
- For others personal loan interest rate: 14.55%
- Floating rate of interest is linked to the base rate and subject to vary from time to time.
Processing Fee charges:
- 1.50% of the loan amount, subject to a minimum of Rs.500/-
- Prepayment charges â€“ Nil
- For salaried people: 36 months
- For other than salaried class â€“ 60 months
Nature of facility:
- Demand loan
Documents needed for Corporation bank personal loan
- Loan application form and passport size photographs
- Passport, voter id, driving license
- Passbook, driving license, Voterâ€™s ID card
- Last three months bank statements
- Current date salary certificate with latest form 16
If you would like to know more about Corporation Bank personal loan, have a word with us.