Greater Bank personal loans can be availed at attractive interest rates and flexible repayment tenures. With simplified documentation and hassle-free approval and disbursal, getting a loan is now as easy as ever.
|Loan Amount||Interest Rate|
|Up to Rs.5 lakh||
Here are the documents you will have to submit when applying for a Greater Bank personal loan:
|Net monthly income||Minimum of Rs.10,000|
|Shareholding||Minimum of Rs.10,000|
Let’s assume that Mr. Venkat, an IT professional at a start-up, takes a personal loan of Rs.1 lakh from Greater Bank. The interest rate applicable to the loan is 16% p.a. In this case, here’s what Mr. Venkat’s repayment schedule will look like:
|Year||Principal Paid(A)||Interest Paid(B)||Total Payment (A+B)||Outstanding Loan Balance|
As you can see from the above table, Mr. Venkat will have to pay Rs.9,073 each month as EMIs. The total amount paid towards the loan will be Rs.1,08,877 out of which Rs.1 lakh is the loan amount, and Rs.8,877 is the interest amount.
|Fees and Charges||Yes Bank||Citibank||Kotak Mahindra||IndusInd Bank|
|Interest Rate||13.99% p.a. -16.99% p.a.||9.99%p.a. -16.49% p.a.||10.25% p.a. onwards||11% p.a. onwards|
|Processing Fee||Up to 2.50%||Up to 3%||2.5%||2.5% onwards|
|Foreclosure Charges||Up to 4%||Up to 4%||Upto 4% + GST as applicable||4%|
|Late Payment Fee||24%||Nil||3% p.m. compounded monthly||Rs.150 + GST|
*Note: Processing fee + GST applicable for all the banks
You can apply for a personal loan by contacting the nearest Greater Bank branch. The branch locations are available online on the Greater Bank website.
Greater Bank offers a maximum of Rs.2 lakhs to individuals under the personal loan scheme.
The personal loan is granted for any purpose you wish. Greater Bank offers finance for individuals to meet any genuine need.
Yes, you can still avail of personal loan. However, there should be a facility for the bank to be able to deduct the loan EMI amount every month from your bank account. The loan will be granted depending on your employment and the company you work for as approved by the Greater Bank Corporate Office.
You can submit any Government issued ID proof such as PAN card, Passport, Driver’s License, Aadhaar Card, Voter ID and so on.
ECS stands for Electronic Clearing Service. An ECS salary credit means that your employer deposits your salary into your bank account directly.
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