Catholic Syrian Bank Personal Loan Interest Rates

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Personal loans offered by Catholic Syrian Bank can be used to meet your personal financial needs like wedding, vacation, and debt consolidation expenses. You can apply for a maximum loan amount of 10 times your gross monthly salary, and repay it in 60 months or less at an interest rate of 8.75% p.a. to 11.50% p.a.

Particulars

Salaried

Interest rate

8.75% p.a. to 11.50% p.a.

Loan Tenure

Up to 60 Months

Employment Status

Minimum 3 years' work experience at a reputable organisation

Lowest EMI per Lakh

Rs.2,137

* Please note all rates of interest and processing fees are at the discretion of the bank.

Factors Affecting Catholic Syrian Bank Personal Loan Interest Rates

Here are the important factors that affect a personal loan interest rate:

  1. Credit Score: Your credit score represents your creditworthiness to the bank as it is calculated based on your credit history. Those who have a high credit score of 750 and above will get personal loans at low interest rates while those with poor credit scores can expect high interest rates.
  2. Repayment Capability: If you meet the minimum income criterion set by the bank, then you are expected to repay the loan without defaulting. Hence, the bank will offer you a personal loan at a competitive interest rate. If you maintain a low debt-to-income ratio, the bank may offer you a low interest rate.
  3. Loan Tenure: If you choose a long loan tenure then expect a lower interest rate but the interest paid over the long tenure will be high. Likewise, if you choose a short loan tenure you can expect a higher interest rate. Therefore, use an EMI calculator to choose the right loan tenure for your personal loan.
  4. Existing Customers: Banks usually offer instant personal loans at attractive interest rates to existing customers. Therefore, consider applying for a personal loan at a bank with which you have a good banking relationship. You can even negotiate your loan repayment terms with your banker to suit your repayment capacity.

Other factors that affect personal loan interest rates are the loan amount and nature of your job.

Charges Associated with Catholic Syrian Bank Personal Loan

In addition to processing fees, there are various other charges that accompany your personal loan such as:

Rs.100

For loan amounts above Rs.10,000 and up to Rs.1 lakh

Rs.300

For loan amounts above Rs.1 lakh and up to Rs.10 lakh

Service Charges on Catholic Syrian Bank Personal Loan

Rs.10

For loan amounts up to Rs.25,000

Rs.25

For loan amounts from Rs.25,000 to Rs.2 lakh

Rs.75

For loan amounts from Rs.2 lakh to Rs.3 lakh

Rs.125

For loan amounts from Rs.3 lakh to Rs.5 lakh

Rs.175

For loan amounts from Rs.5 lakh to Rs.10 lakh

Rs.250

For loan amounts from Rs.10 lakh to Rs.25 lakh

Rs.500

For loan amounts from Rs.25 lakh to Rs.50 lakh

Rs.750

For loan amounts from Rs.50 lakh to Rs.75 lakh

Rs.1,000

For loan amounts from Rs.75 lakh to Rs.1 crore

Rs.2,000

For loan amounts above Rs.1 crore

How to Calculate your Catholic Syrian Bank Personal Loan EMI?

Technology is progressing everyday with many products and services available online, to help you and be available at your convenience. Thanks to today's technology most banks have progressed with their services, which are available online, including features ranging from applying for banking products and loans to financial tools to help you along the way for all banking activities. BankBazaar offers various financial tools, like EMI calculators, home loan calculators, Compound/simple calculators and more. You can always check what your EMI will be with a bank when applying for a loan and accordingly plan your monthly finances. BankBazaar will help you with this, thanks to the EMI calculators they have on their websites. You can login to the website and enter the details of your loan, like amount, interest rate, tenure of the loan, processing fees if any, etc. The website will calculate the EMI and display a result that's simple and easy.

Key Things to Know About Catholic Syrian Bank Personal Loan Interest Rates

  1. Subject to the repo rate of the Reserve Bank of India, the personal loan interest rates charged by Catholic Syrian Bank may come down further, but not immediately.
  2. if you're applying for a personal loan with Catholic Syrian Bank you'll need a guarantor.
  3. The main report considered for a personal loan will be the CIBIL report and the rate of interest may differ depending on the scores you have as an applicant.

Catholic Syrian Bank is one of the largest banks in the country with its headquarters in Thrissur, Kerala. The bank has 395 branches and over 214 ATMs in the country. More than 75% of their customers come from economically weaker sections of society.

Catholic Syrian Bank offers its customers an array of financial services to cater to their financial requirements. Many customers today want to apply for personal loans to meet various financial needs, like urgent expenses, paying for wedding costs or any other financial help they might need. Catholic Syrian Bank Personal Loans to their customers based on various factors like age, income, employment, CIBIL score, to name a few.

  1. Your latest salary slip or salary certificate with the date of superannuation
  2. The last 6 months' bank statement
  3. Proof of work experience
  4. Undertaking from the salary disbursing authority

FAQs on Catholic Syrian Bank Personal Loan Interest Rates

  • What are the documents required to apply for a personal loan at Catholic Syrian Bank?

    In addition to KYC documents like your identity proof and address proof, you have to submit the following at the time of loan application:

  • Do I need to provide guarantee when applying for a personal loan at this bank?

    Yes, at least one confirmed employee at your organisation has to provide personal guarantee for you.

  • Does Catholic Syrian Bank offer personal loans to Non-Resident Indians (NRIs)?

    Yes, the bank offers Casy Mithra, which is a personal loan scheme for NRIs, that offers a minimum loan amount of Rs.50,000 and a maximum loan amount of Rs.25 lakh for a loan tenure of up to 5 years. However, the loan amount should not be repatriated or credited to NRE/FCNR accounts. Also, the applicant has to provide a house plot or a commercial plot as security.

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