Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 Indian Bank Loan Against Property

    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 Loan Against Property is Rated as "Excellent!" by 16 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Overview

    Loan schemes against property from Indian Bank allow interested customers to use the market value of their owned property as a security and avail financing options. Indian Bank loan against property offers attractive interest rates on a secure loan. The loan amount can be used for business purpose, education needs and virtually any other expenditure that is not covered under other specific purpose loans. These loans do not have any restraints on their usage excepting expenditure for any speculative purpose. It is possible for salaried, professional and non-professional individuals as well as organisations to avail any of the different schemes under this type of loan.

    Features of Indian Bank Loan against Property

    The important features of Indian Bank mortgage loan are mentioned below

    1. Loan sanctioned against existing property owned by applicant
    2. No limitation on the use of availed loan
    3. Attractive interest rates when compared to traditional personal loans
    4. Loan amount is added to the savings or current account maintained by the applicant at the bank and can be managed in a centralised manner
    5. Loan tenure can be as high as 7 years and has no minimum limit
    6. The margin of the loan would be 50% of the fair market value of the property
    7. Repayment of the loan can be done through EMIs

    Eligibility Criteria for Indian Bank Loan against Property

    This loan is a secured loan that allows individuals to avail financing through the aid of their owned property. The eligibility of the applicant for this loan can be mentioned in the following points

    1. Loan is available on property that is legally owned by the applicant
    2. Loan is available only for salaried, self-employed/professionals/businessmen and firms based on the following criteria
      1. Salaried Individuals
        1. Permanent employees of Central/State Government/Quasi Government bodies/Public Limited companies/Reputed Private Limited companies with a clear record of timely salary disbursement
        2. Must have completed minimum 3 years of service
        3. Must have minimum monthly income of INR 15000 and the take home amount should be more than 40% of gross income after deduction of EMI of proposed loan and other deductions, if any
      2. Self-employed/Professionals/Businessmen

        1. Loan eligibility based on average income of immediately preceding 3 years
        2. Minimum net annual income to be INR 150000 after deduction of proposed EMI
      3. Firms and companies – Eligibility based on cash flow and discretion of the bank
    3. As of November 2015, the loan is available and applicable in and around the city limits of branches of the bank in India
    4. Individuals within 18 years to 60 years are eligible for applying for this loan. In case of salaried individuals, the retirement age is considered as the maximum age limit

    Details about Indian Bank Loan against Property

    Loan Facilities

    No minimum repayment time, maximum repayment period is 84 months, subject to the discretion of the bank

    Loan Amount

    Minimum amount to be decided as per eligibility criteria and maximum amount is INR 200 lakhs subject to the discretion of the bank

    Loan Security

    Equitable Mortgage of property offered as security

    Equitable Mortgage to be registered (at the applicant’s cost) if there is a provision for the same in the state where property is located

    Interest rates

    Base Rate + 3.50% + 0.75%

    Processing Fees

    1.167% of the approved loan amount

    Prepayment Fees

    Prepayment amount is 2.25% of the outstanding amount in case the loan is being taken over by another bank. If the loan is closed through the borrower’s own funds, there are no prepayment charges

    All the rates mentioned above are as per November, 2015 and are subject to change as per the discretion of the bank.

    Benefits of Indian Bank Loan against Property

    Listed below are the benefits of Indian Bank loan against property -

    1. High loan amount – A maximum amount of up to INR 200 lakh can be availed as financing through this loan
    2. Flexible tenure – Repayment of the loan can be done across 7 years and it can even be closed as soon as the borrower wishes to do so
    3. Versatility – This secured loan can be utilised for any practical purpose and the restrictions imposed on it is limited to non-expenditure on speculative purposes and the eligibility factors only

    How to avail Loan against Property from Indian Bank?

    Applying for Indian Bank loan against property is quite easy. Places where the bank has its operational branches are the effective limits within which any borrower can apply for the loan. A borrower can download the necessary forms for Indian Bank Loan against property and approach any authorised branch with the duly filled paper and other requisite documents to initiate the process for availing the loan. The loan can also be applied for in person at any of the bank’s branches.

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  • Indian Bank Loan Against Property 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? 1
      , 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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