Personal Loans with Indian Bank, Apply In Good Rates

It is a pioneer in introducing new technologies in Banking Sector:

• 100% Business Computerization
• Cash management services
• Depository Services
• E-payment facility for the corporate customers

Eligibility for Indian bank personal loan:

• Indian bank offers personal loan to the following entities:
• Permanent Employees with minimum service, experience of three years with Government, Quasi Government, Boards, and Endowments, reputed companies, Corporate Industrial Establishments etc. Minimum take home pay of 40% of gross salary after servicing the proposed EMI.

Loan Amount:

• Eligible amount is calculated at five times of the gross salary
• The employees whose salary directly gets credited in the Indian Bank
• 7 times of gross salary maximum of 1 lakh with employer sponsorship with undertaking letter from the employer to recover EMI from salary and remit to the Bank

Margin:

• Nil

Interest rates:

• Up to 36 months: 14.90%
• Above 36 months upto 60 months: 15.15%
• Above 60 months: 15.40%

Processing fees:

• 0.508% of the loan amount and with minimum being Rs 508/
• Repayment options:
• Flexible repayment option of 36 Equated monthly installments

Security:

• Employer’s sponsorship
• Authorization to debit SB account

Third party Guarantee

• Encashable collateral security and Post dated Cheques
• Proof of employment and salary certificate

Documents required for the Indian bank personal loan:

• Completed Application Form with passport size photograph

Identity Proof:

• PAN card, Voter ID card, Passport, Driving license

Address Proof:

• Recent telephone bill, Electricity bill, Property Tax Receipt, Passport, Voter’s ID

Proof of employment

• Salary certificate for the last six months
• IT returns and Form 16 for 3 years from the individual borrowers
• Bank statement for last six months
• Post date cheques also to be obtained
• Suitable third party guarantee also is desirable