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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 16 Users

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    Indian bank personal loan

    Indian Bank is an Indian state-owned financial services company headquartered in Chennai, India. Bank has 22,000 employees, 2100 branches and is one of the big public sector banks of India. Indian Bank provide personal loans to meet Marriage/Educational and medical expenses, to celebrate family functions and for other household expenses of individual. All you have to do is to follow some simple steps to get attractive deals.

    Perfect Personal Loan Deals for you


    You’re probably eligible for an Indian Bank Personal Loan if you are

    01
    02
    03
    04
    Indian Bank Personal Loan Minimum Age

    At least 21 years old

    Indian Bank Personal Loan Maximum Age

    Less than 58 years old

    Indian Bank Personal Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    Indian Bank Personal Loan Minimum Income

    Minimum income required
    40% of gross pay


    Your Indian Bank Personal Loan amount eligibility is based on these factors

    01
    02
    03
    Indian Bank Personal Loan Minimum Salary

    Salaried with Regular Income

    Indian Bank Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs. 1 lakh

    Indian Bank Personal Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Indian Bank Personal Loan amount by these steps

    01
    02
    Indian Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    “Indian

    Choose longer tenure loan up to 36 months


    Documentation needed to apply for an Indian Bank Personal Loan

    • 1. Signed application form with photograph
    • 2. Copy of passport/voter ID card/driving license
    • 3. Processing fee cheque
    • 4. Last 3 months bank statement/6 months bank passbook
    • 5. Documentation for salaried applicants:
      • Latest salary slip
      • Current dated salary certificate with the latest Form 16
        • 6. Documentation for self-employed applicants:

          • Latest Bank statement
          • Latest ITR or Form 16

    Indian Bank Personal Loan Interest RatesUpdated on 22 Sep 2017

    Indian Bank Personal Loan Details
    Processing Fees 0.50% of loan amount with the maximum of Rs.510
    Loan Tenure 36 months
    Guarantor Requirement Guarantor required

    Overview about Indian Bank Personal Loan

    Indian Banks offers a wide range of personal loan products that are specific to individual needs and requirements. These are the personal loans offered by Indian Bank:

    • IB Home Loan.
    • IB Vehicle Loan.
    • Plot Loan.
    • Loan/OD against Deposits.
    • IND Mortgage.

    IB Home Loan

    Applicants between the ages of 18 and 60 years can apply for the IB Home Loan.

    Features of IB Home Loan:

    • Loan amount - You can apply for an amount of 60 times your Net Monthly Income OR 36 times your Gross Monthly Income, depending on whichever of the 2 is higher. In case of renovations or repairs, you can apply for a loan amount of maximum Rs.5 lakhs.
    • Margin - The margin for this loan are as follows:
      • 10% for loan amount of up to Rs.20 lakhs.
      • 20% for loan amount above Rs.20 lakhs and up to Rs.75 lakhs.
      • 25% for loan amount above Rs.75 lakhs.
      • 30% for renovations and repairs.
    • A processing fee of 0.229% up to Rs.20,381 will be applicable on the loan amount.
    • Repayment tenures for the IB Home Loan are as follows:
      • Purchase or construction of the flat/house – 20 years. This includes the holiday period.
      • Home loans taken for construction of the flat/house, a maximum holiday period of 18 months will be applicable.
      • Renovations and repairs – Maximum loan tenure of 120 months.
    • There are no prepayment charges for this loan.
    • Security for the IB Home Loan – Equitable Mortgage of the purchased or constructed property out of the loan proceeds.
    • 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.

    Value-added feature - Group Insurance Cover:

    • Group Insurance Life Cover can be arranged by the bank at concessional rates/premiums. The applicant will bear the premium payments.
    • The premium will not be financed under this home loan but as a separate loan.

    IB Vehicle Loan

    You can apply for the IB Vehicle Loan for the purchase of a new Two Wheeler, a new Four Wheeler or a used Four Wheeler not older than 3 years as certified by a reputable automobile engineer or value.

    Features of IB Vehicle Loan:

    • Loan amount – You can borrow up to Rs.10 lakhs for the purchase of a Two Wheeler and up to Rs.200 lakhs for the purchase of a Four Wheeler.
    • Margin - The margins for this loan are as follows:
      • 15% margin for the purchase of a new vehicle.
      • 40% margin for the purchase of a used Four Wheeler.
    • A processing fee of 0.229% up to Rs.10,191 will be applicable on the loan amount.
    • Security for the IB Vehicle Loan – You must purchase the hypothecation of your vehicle out of this loan. If your loan amount is above Rs.10 lakhs, you must provide additional collateral/security for amount exceeding Rs.10 lakhs. You can provide additional security such as NSCIs, LIC Policy, Fixed Deposits etc.

    Eligibility Criteria for IB Vehicle Loan:

    • The following segments are eligible to apply for this loan:
      • Salaried class.
      • Businessmen.
      • Professionals.
      • Self-employed persons.
      • Indian Bank staff members/employees.
      • NRIs and Pensioners.
      • Employees from other banks having a “No Objection Certificate” from their employer with whom they have served a minimum of 3 years.
    • Income criteria:
      • In case of purchase of a car, your minimum gross monthly income should be Rs.20,000.
      • Salaried persons – You can borrow up to 20 times your gross monthly income. For a larger loan amount, you can include the income of your spouse. Your net take home pay after the proposed EMI deduction should be 40% of your gross pay.
      • Businessmen and Professionals – You can borrow up to 20 months income. Your income will be calculated as an average income that you have earned in the last 2 earned and your ability/capacity to repay the loan amount.

    Plot Loan

    You can apply for a plot loan when purchasing a House Site on an ownership basis in a Competent Authority approved layout.

    Features of Plot Loan:

    • Loan amount – You can borrow up to Rs.300 lakhs depending on which area the property is purchased (e.g. rural area, semi-urban area, metro etc.)
    • Margin – The margin for a plot loan is 25% on the cost of land.
    • A processing fee of 1.173% will be applicable on the loan amount.
    • The maximum repayment period is 180 days. There is no holiday period applicable on this loan.
    • There are no prepayment charges for early repayment of this loan.
    • Security for Plot Loan – Equitable Mortgage of the purchased property out of the loan proceeds.

    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.

    Other Products from Indian Bank
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  • Indian bank personal loan Reviews

    • 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? 0
      , 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? 0
      , 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? 0
      , 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? 0
      , 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? 1
      , 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? 0
      , 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? 2
      , 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? 0
      , 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? 1
      , 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? 5
      , 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? 1
      , pondicherry
      Reviewed on Jun 08, 2015
    • Indian Bank Personal Loan
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      I recently had a fantastic experience of availing a personal loan from Indian bank. The documentation was very simple as there were no much documents requested by the bank and the processing was very fast. They disbursed my loan in just 2 days of time. Also they offered me the lowest interest rate of all the banks.
      Was this review helpful? 2
      , chennai
      Reviewed on Nov 06, 2014
    • Indian Bank Personal Loan
      "Mind blowing services!!"
      0.5 5.0/5 "Blown Away!"
      I got this personal loan before 2 years and had submitted the renewal form to this bank. The loan amount eligible is only 60,000 because of not having salary account with Indian bank. Interest rate around 13% and then per month 3300 has to be paid. There are no pre closure charges. Services are so nice. Through this Internet banking, i can see all information.
      Was this review helpful? 3
      , chennai
      Reviewed on Aug 22, 2014
    • Indian Bank Personal Loan
      "Excellent response through Online"
      0.5 4.5/5 "Excellent!"
      Indian bank replies to their customer within 4 hours and immediately take neccessary actions. loved their responses. And they provided some 9% interest for Fixed deposits which they have reduced it to 8.75% now was somewhat a backlog for the customers but overall its a good bank to invest!
      Was this review helpful? 1
    • Indian Bank Personal Loan
      "safe banking"
      0.5 5.0/5 "Blown Away!"
      I have my salary account in Indian Bank and they provided me personal loan which is exclusively for salaried employees and the interest charged is very less when a comparison is done with the other banks. Indian Bank's netbanking is secured,for all transactions that i do,I receive one time password and only with that i can proceed further for the money transfer.
      Was this review helpful? 3
      , kanchipuram
      Reviewed on Apr 21, 2014
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