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  • Catholic Syrian Bank Personal Loan Eligibility

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  • Catholic Syrian Bank offers personal loans up to 10 times the gross salary for those who have 3 years of work experience.

    Criteria Salaried
    Age As per the terms and conditions of the bank
    Income The EMI should not surpass 50% of the net monthly income of the individual
    Work Experience Minimum of 3 years’ experience
    CIBIL Score 750+
    Residential Status Resident of India
    Interest Rate 12% p.a. - 19% p.a.
    Loan Amount Up to 10 times the gross monthly salary of the individual
    Loan Tenure Up to 60 months

    Factors affecting Catholica Syrian Bank Personal Loan eligibility

    • The net monthly income of the individual: The bank takes into consideration the monthly salary of the individual when deciding if he/she is eligible for the loan. If the EMI does not surpass 50% of the monthly earnings of the individual, chances of him/her being eligible for the loan are higher.
    • Work experience of the individual: To be eligible for the personal loan offered by Catholic Syrian Bank, the applicant should have a minimum of 3 years of work experience to show.
    • Resident status of the applicant: To be eligible for the personal loan, the applicant should be a resident of India.
    • CIBIL score of the individual: Catholic Syrian Bank takes into consideration the current credit score of the individual and if he/she has any debts or has a poor repayment record. Only if the credit score of the individual is good enough will he/she be eligible for the loan.
    • Relationship with the bank: If the applicant has a corporate salary account or a savings account with Catholic Syrian Bank, then the chances of him/her being eligible are higher.

    How to improve chances of Catholic Syrian Bank eligibility?

    • Clear your debts first: If you have pending loan dues and your credit score is poor, first clear your dues, improve your credit score and then apply for a personal loan.
    • Ensure that you have enough work experience: Since Catholic Syrian Bank has a minimum 3-year work experience requirement, ensure that you meet this requirement to be eligible. The more work experience you have, the better will be your chances of being eligible for a loan.
    • Choose an appropriate tenure: If your income is low, choose a longer tenure to improve your chances of being eligible as this will reduce the EMI.
    • Use an EMI calculator: to know the loan amount you will be eligible to apply for. The EMI calculator takes into consideration factors such as your age, work experience, income, tenure, processing fees, etc.
    • Submit the required documents: Ensure that all the required documents such as your identity and address proof, income proof, etc., are submitted on time for verification.

    FAQs

    1. How will I know if my Catholic Syrian Bank personal loan application is approved?
    2. You can use your Catholic Syrian Bank net banking account to check the status of your personal loan using your application reference number. Also, if your personal loan application is approved, the bank will contact you via SMS or email.

    3. Which document should I submit to prove my employment?
    4. Submit your employment letter and pay slips.

    5. Do I need a guarantor to be eligible for a personal loan from Catholic Syrian Bank?
    6. Yes, you would need to submit details of 1 guarantor to be eligible for a personal loan.

    7. If I have work experience and a good salary, will I be offered the best possible interest rate by Catholic Syrian Bank for my personal loan?
    8. No, it depends on several factors that are based on the terms and conditions set by the bank.

    9. Is the personal loan amount that I can avail based on my salary entirely?
    10. Yes, it is.

        

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