Personal Loans with Corporation Bank, Apply In Good Rates

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 “prosperity for all” professed by it in its day to day operations.

Features

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

Loan Amount:

  • Minimum loan amount: .10 lakh
  • Maximum loan amount: 2.50 lakh

Salaried people:

  • Employee salary gets credited in to its branch, then loan up to 9 months NET salary

Pensioners:

  • Pensioners withdraw the salary through the branch – 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.

Margin:

  • Nil

Security:

  • 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 – Nil

Repayment options:

  • For salaried people: 36 months
  • For other than salaried class – 60 months

Nature of facility:

  • Demand loan

Documents

Documents needed for Corporation bank personal loan

  • Loan application form and passport size photographs

Id Proof:

  • Passport, voter id, driving license

Address Proof:

  • Passbook, driving license, Voter’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.

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