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    Indian bank personal loan

    Indian Bank offers personal loans up to Rs.1 lakh at attractive interest rates starting from 14.20% p.a. The processing fees charged by the bank are just 0.51% of the loan amount, and the repayment tenure can extend up to 36 months.
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    We found 1 Indian bank personal loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    -
    0.51% (max. ₹510) One time fee
    50K - 1L
    3 Years
    Response Time : Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria
    Indian bank personal loan is Rated as "Excellent!" by 24 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

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    Personal Loan BYTES FROM OUR KITCHEN

    Indian Bank Personal Loan Fees and Charges 

    Loan Scheme  IB Clean Loan (To Salaried Class) 
    Interest Rate  14.20% p.a. onwards (BPLR) 
    Loan Amount  Up to Rs.1 lakh 
    Processing Fees  0.51% of the loan amount, subject to a maximum of Rs.510 
     

    Eligibility Criteria for Indian Bank Personal Loan 

    • Must be a permanent employee of the Government or Quasi-Government institutions, endowments, corporate industrial establishments, reputed companies, or boards, etc.  
    • Must be employed for at least three years before applying for the loan. 
    • Must earn a minimum take home salary of 40% of the gross salary following the servicing of the proposed EMI.  
     

    Documents Required for Indian Bank Personal Loan 

    • Loan application form, duly signed, with two passport-sized photographs 
    • ID proof in the form of Aadhaar Card or Voter’s ID or driving license or PAN card or passport 
    • Address proof in the form of Voter’s ID or passport or electricity bill or telephone bill or property tax receipt 
    • Salary certificate for the past six months 
    • Income Tax Returns or Form 16 for the past three years 
    • Account statement for the past six months 
    • Post-dated cheques 
    • Third-party guarantee 
     

    Other Types of Indian Bank Personal Loan Schemes

    Loan or OD against Deposits 

    You can take a loan or an overdraft against your deposit as per the following: 

    You must be the holder of the Term Deposit at Indian Bank. 

    Loan amount – 90% of the accrued value of your deposit. 

    Margin – 10% of the accrued value of your deposit. 

    Flexible repayment options are available. The maximum repayment tenure is the maturity date of your term deposit. 

    Prepayment fee – You will be charged 2% on top of the rate applicable on the deposit you have pledged as a prepayment fee. 

    Security – You must pledge your term deposit as security for this loan. 

    IND Mortgage 

    You can take a loan against your property with the IND Mortgage loan. 

    Features of IND Mortgage: 

    Loan amount – You can take a maximum loan amount of Rs.200 lakhs. 

    Margin and security – The margin is 50% of the realizable sale value of your property that you have pledged as security for this loan. Agricultural property, disputed property or a property attached to IT authorities will not be accepted as security and will not be applicable for this mortgage loan. 

    A processing fee of 1.173% will be applicable on the loan amount. 

    Repayment – You can repay this loan within a maximum of 84 EMIs. Holiday Period is not applicable for this loan. 

    Prepayment fee – You will not be charged a pre-closure fee if the loan has been terminated using your own funds. However, if the loan is taken over by another bank or financial institution (refinancing), you will be charged 2.25% on your outstanding balance or the applicable drawing limit, depending on whichever of the 2 is higher. 

    Insurance - You must insure the property (to be offered as collateral) at your own cost with the bank’s clause against flood, fire, earthquake, riots and any other risks that are generally covered under insurance. 

    Eligibility Criteria for IND Mortgage: 

    You must be between the ages of 18 years and 60 years to apply for this loan. 

    Salaried class including permanent employees of state/central government, Quasi government bodies, public and private limited companies are eligible to apply for this loan. 

    Self-employed persons, businessmen and professionals who meet the income criteria of the bank are eligible to apply for this loan. 

    You can take your pick from these specific personal loan products that Indian Bank offers to meet your individual financial requirements. 

    Indian Bank Personal Loan FAQ

    Who can take a personal loan from Indian Bank? 

    Indian Bank personal loans can be availed by permanent employees of Government and Quasi-Government institutions, boards, reputed companies, endowments, corporate industrial establishments, etc., provided they have work experience of at least 3 years. 

    What are the reasons for which I can avail a personal loan from Indian Bank? 

    A personal loan from Indian Bank can be used to meet education-related expenses, marriage-related expenses, payment of medical bills, or to meet any other household expenses. 

    Are there any charges levied when taking a personal loan from Indian Bank? 

    Indian Bank charges a processing fee of 0.51% of the loan amount, subject to a maximum of Rs.510 when taking a loan. The amount is deducted from the loan amount at the time of disbursal. 

    How many EMIs will I have to pay to repay my Indian Bank personal loan? 

    The maximum repayment tenure for an Indian Bank personal loan is set at 36 months, which means that you will have to clear your loan in 36 EMIs.  

    What kind of security will I have to place to avail a personal loan from Indian Bank? 

    Indian Bank personal loans can be availed against employer’s sponsorship, post-dated cheques, collateral security that can be encashed, third-party guarantee, or authorisation to debit your savings bank account. 

        

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    Indian bank personal loan Reviews

    • Indian Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Indian bank and it was a very good experience. The loan amount was based on my requirement and the rate of interest was nominal when compared to other banks. Customer service was good and the tenure period is for 1 year.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Jan 26, 2019
    • Indian Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal Loan from INDIAN BANK.the rate of interest they have charged me was nominal and there processing fee was also nominal , the loan amount which they have given me was sufficient and it got approval soon , there customer service is good and they responded very well..
      Was this review helpful? 6
      , hyderabad
      Reviewed on Nov 22, 2018
    • Indian Bank Personal Loan
      "GOOD SERVICE "
      0.5 4.0/5 "Great!"
      I have got the flood loan with this bank, with low interest rates, the loan value is 1 lakh ,its taken for 3 years tenure, only 3-4 EMIs are pending, processing was easy and i got it within a week of time so the process was quick as we were in urgency.
      Was this review helpful? 13
      , chennai
      Reviewed on Aug 14, 2018
    • Indian Bank Personal Loan
      "Personbal loan from Indian bank"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal Loan from INDIAN BANK.The approved loan amount was 20000 . The given rate of interest was 13%. The monthly EMI comes around 1000. the total tenure is for 24 months. It was a pre approved loan.The customer service and response is good.
      Was this review helpful? 7
      , chennai
      Reviewed on Jan 11, 2018
    • Indian Bank Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with Indian Bank. It was recommended by the company. The interest rate was high where private bankers are doing for 12% but here its 14.5%. It is a tenure of 5 years and I have completed 3 years. I am paying premium of 4500 rupees through ECS.
      Was this review helpful? 6
      , chennai
      Reviewed on Jan 03, 2018
    • Indian Bank Personal Loan
      "Personal loan"
      0.5 1.0/5 "Really Bad"
      As a long time customer with Indian bank for the past 5 years they offered me a personal loan and I also availed the loan as I needed money at that time. It was a quick documentation and the processing time was also so quick to disburse the loan within an hour I got the funds.
      Was this review helpful? 4
      , bangalore
      Reviewed on Nov 21, 2017
    • Indian Bank Personal Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      As a long time customer with Indian bank for the past 5 years they offered me a personal loan and I also availed the loan as I needed money at that time. It was a quick documentation and the processing time was also so quick to disburse the loan within an hour I got the funds.
      Was this review helpful? 3
      , pondicherry
      Reviewed on Nov 17, 2017
    • Indian Bank Personal Loan
      "good service"
      0.5 4.0/5 "Great!"
      I can say it was a good service from INDIAN bank for my personal loan service during the documentation part it was fine I have submitted all my documents directly in their branch and the rate of interest they offered was also low compared to others in the market ,I can say the overall service is good from INDIAN bank for my personal service.
      Was this review helpful? 4
      , chennai
      Reviewed on Oct 11, 2017
    • Indian Bank Personal Loan
      "Good Response"
      0.5 4.0/5 "Great!"
      About five years ago, I had taken the personal loan from Indian bank. I do not remember about the rate of interest but it is better. All the services are really better with Indian bank. When it comes to customer service, it is far better than IOB.
      Was this review helpful? 5
      , madurai
      Reviewed on Jun 24, 2017
    • Indian Bank Personal Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Indian bank. This is an easy loan facility, where I can renew the loan once I have completed my tenure. Else I can also pre close the same without a fee taken. The interest offered is very low on these loans as I am a government employee. There are no processing charges as well taken for the loan.
      Was this review helpful? 2
      , chennai
      Reviewed on Jun 15, 2016
    • Indian Bank Personal Loan
      "So easy to take a loan "
      0.5 4.0/5 "Great!"
      Since I am holding my salary account with INDIAN bank got my personal loan easily from them. Based on my P F amount they have offered this loan. 3.4 lakhs I have taken with the higher rate of interest. Monthly EMI is around 12k but I am planning to pre close this loan after some time. There is no pre closing charges with this bank.
      Was this review helpful? 4
      , chennai
      Reviewed on Nov 24, 2015
    • Indian Bank Personal Loan
      "More than happy..."
      0.5 5.0/5 "Blown Away!"
      Interest rate is about 1.5% per month in Indian bank for the personal loan. One time charge was 650 rupees for the loan amount 84 thousand. The tenure is 36 months. I received the personal loan amount from Indian bank within 2 days of time, which is very short duration.
      Was this review helpful? 2
      , chennai
      Reviewed on Nov 17, 2015
    • Indian Bank Personal Loan
      "Satisfied.."
      0.5 4.0/5 "Great!"
      Indian bank moved the personal loan immediately as they processed within 5 days. Indian bank offered me limit of one lakh but I got 50 thousand only. Interest rate was about 15%. In respect to customer service Indian Bank is not up to mark however branch banking is very good.
      Was this review helpful? 3
      , chennai
      Reviewed on Nov 17, 2015
    • Indian Bank Personal Loan
      "Zero processing fee"
      0.5 5.0/5 "Blown Away!"
      This personal loan was offered by INDIAN Bank. They did not provide any discount on the interest rate. Processing fee has been waived that is one notable feature of the loan. Process was very simple. There is no drawback and they have not provided any papers works for this loan and however they had got the document signed by me.
      Was this review helpful? 6
      , chennai
      Reviewed on Oct 20, 2015
    • Indian Bank Personal Loan
      "Best rate of interest "
      0.5 4.5/5 "Excellent!"
      INDIAN bank is the best to provide less rate of interest for the personal loans. For quite long I am holding my salary account with them. In 2014 I have taken this personal loan from them and still 15 months EMI need to pay. The bank branch is located very near to my office.The best part is they will inform the customers about the documents list to keep it ready.
      Was this review helpful? 4
      , vellore
      Reviewed on Oct 15, 2015
    • Indian Bank Personal Loan
      "Closed it"
      0.5 4.0/5 "Great!"
      INDIAN bank is very smooth in personal loan processing. I have my savings account with them. It was quite long back I closed my personal loan with them, When I took this loan I was not much aware about private banks. This is the only bank option I got that time and it was better experience to me.
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 12, 2015
    • Indian Bank Personal Loan
      "Good service "
      0.5 4.0/5 "Great!"
      I had a very good experience with Indian Bank based on the personal loan experience.I havenâ??t faced any difficulties with the Bank based on the process.The charges and rate applied for the loan was quite nominal as they are a government bank.They have taken around a months time to process and its a hassle free process with Indian Bank.The manager was very responsive towards the customer.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 18, 2015
    • Indian Bank Personal Loan
      "Not recommended"
      0.5 0.5/5 "Unacceptable"
      I am not interested in taking a personal loan with Indian Bank because they are very poor towards the customer in response.I am not at all comfortable with the service and they are dominating customer who come for loan process.They donâ??t even hear to customer words.I will never recommend about this bank to others.
      Was this review helpful? 8
      , bangalore
      Reviewed on Aug 24, 2015
    • Indian Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The main reason I have taken my loan from Indian Bank is because of the rate of interest. The bank has a facilitated system where they have given my loan for my business purpose. They have helped me at the time of my requirement. The services was good from them and the process was quick.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jul 09, 2015
    • Indian Bank Personal Loan
      "best banking services"
      0.5 5.0/5 "Blown Away!"
      I got the personal loan with Indian bank.Its the best bank because I got the loan in the same day when I applied with them.The rate of interest is around 10%. Clearly saying that I applied with them by 10:30 pm and I got the loan in the same day of 1:30pm.
      Was this review helpful? 2
      , pondicherry
      Reviewed on Jun 08, 2015
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