Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Syndicate Bank Gold Loan Reviews

    • Syndicate Bank Personal Loan
      "Efficient"
      0.5 4.0/5 "Great!"
      I had face to face conversation with syndicate Bank, I hold an account there with the same bank and therefore they were able to offer the loan with ease .The criteria was to have a gurantor also I am holding an account with the same branch and one of my friend assured me about the same and therefore it was completely a hassle free experience..
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 22, 2017
    • Syndicate Bank Personal Loan
      "Moderate Service"
      0.5 3.0/5 "Satisfactory"
      Long back I had taken the personal loan from syndicate bank. The time when I had taken the loan from syndicate bank, they quoted a good interest rate. I felt comfortable in the rate of interest so continued with the loan process and I had availed it.
      Was this review helpful? 0
      , tirupati
      Reviewed on Aug 12, 2017
    • Syndicate Bank Personal Loan
      "The best"
      0.5 5.0/5 "Blown Away!"
      Syndicate Bank knows how to treat the customers and they value them as well. I have taken a personal loan from them. The customer services are very good and they have offered me a good deal on the interest rate and processing charges. They have also informed me that they would offer me other benefits if my payments are regular.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 13, 2017
    • Syndicate Bank Personal Loan
      "Fast process"
      0.5 5.0/5 "Blown Away!"
      I am a existing customer of Syndicate Bank and they offered me a preapproved personal loan. After me applying for it, I got the loan in just two days with a minimum documentation. The interest rate and processing charges was nominal too. A excellent process overall.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 25, 2017
    • Syndicate Bank Personal Loan
      "Best "
      0.5 5.0/5 "Blown Away!"
      I had closed the personal loan with the Syndicate bank and the interest rate applied for the loan was around 12.5%. Processing charges were nil with them on my personal loan and I got the loan amount within seven to ten days of time from the time of inquiry.
      Was this review helpful? 0
      , sivakasi
      Reviewed on May 10, 2017
    • Syndicate Bank Personal Loan
      "Good Service"
      0.5 4.5/5 "Excellent!"
      It had been seven months when I availed a personal loan from Syndicate Bank. The interest rate was fourteen percentage and the processing fees are very low. The loan amount got disbursed in a week. They had collected all the documents from me and processed it very fast.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 29, 2017
    • Syndicate Bank Personal Loan
      "Very Good"
      0.5 4.0/5 "Great!"
      Excellent service. After submitting my documents with Syndicate bank for personal loan, the loan amount got disbursed. Also, they fulfilled what they committed to me in terms of interest rate and the processing time. The interest rate was minimal but Iam not not sure how much It was and It was long time back I have taken this loan. Loan amount I have opted is 1 lakh EMI is 2200 for 5 years it was.
      Was this review helpful? 0
      , alwar
      Reviewed on Mar 29, 2017
    • Syndicate Bank Personal Loan
      "Good services"
      0.5 3.5/5 "Pretty good"
      I had a earlier experience with Syndicate Bank for the personal loan. The process for the loan has been simple with no much of documentation done. The rate of interest was also normal, it was around 14%. The processing charges was standard and overall a satisfactory process.
      Was this review helpful? 2
      , mysore
      Reviewed on Nov 17, 2016
    • Syndicate Bank Personal Loan
      "On time payment"
      0.5 3.0/5 "Satisfactory"
      Syndicate bank keeps debiting the payment from my account on time. .I used to get statements from them on time once in every 6 months also I can access the same information through online as well . I used to check my statements online. They do not deduct any additional charges too. The rate of interest charged by them was 11%.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 08, 2016
    • Syndicate Bank Personal Loan
      "Convential banking"
      0.5 4.0/5 "Great!"
      Syndicate bank follows a convential way of banking, where I had to visit the branch to make the EMI payment manual every month as they do not have faciliites like ECS in place. On the contary , the interest rate offered by them was very minimal so as the processing fee. On top of that pre-clousre and partial payment options were also avialiable.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 03, 2016
    • Syndicate Bank Personal Loan
      "Best response at the bank"
      0.5 5.0/5 "Blown Away!"
      I simply love the services offered by Syndicate bank as they act according to my wish no matter what ever it is. For instance I had placed a request for my personal loan and my loan was approved without any hesitation. They provide proper service as they were constantly in touch with me and even during the closure of the loan account I did not face any hassle with them.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 01, 2016
    • Syndicate Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      As I hold my salary account with the Syndicate bank I approached them to take a personal loan. The offered interest rate was quite low and the executives of the bank approached me in a friendly manner. My loan amount got credited to my account in a week time.
      Was this review helpful? 1
      , vijayawada
      Reviewed on May 26, 2016
    • Syndicate Bank Personal Loan
      "Can be improved"
      0.5 3.0/5 "Satisfactory"
      The service provided was really good with syndicate bank related to the personal loan process.I have taken the loan since I am having a salary account with the same bank.The rates offered was around 14% for the loan.There was preclosure options available but I have not choosed the same.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on May 25, 2016
    • Syndicate Bank Personal Loan
      "Slow but good rate"
      0.5 3.5/5 "Pretty good"
      Syndicate bank took long time to disbursed the personal loan amount nearly one month . Rate of interest charged and processing fee charged were nominal before three years. Papers works were heavy and the formalities were high like we have to visit the bank many times.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 11, 2016
    • Syndicate Bank Personal Loan
      "Not satisfied.."
      0.5 1.0/5 "Really Bad"
      I was not interested in going with Syndicate bank for the personal loan but due to emergency I had availed. I asked for three lakhs and they sanctioned the same amount. They put interest as 1.8% per month. They have not asked me to take insurance.
      Was this review helpful? 1
      , chennai
      Reviewed on Feb 24, 2016
    • Syndicate Bank Personal Loan
      "Good Process"
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan from Syndicate bank. The services has been very good from them. They been very responsive. The documents was collected on time. The process was fast. The rate of interest was normal. The charges was reasonable too.
      Was this review helpful? 0
      , mysore
      Reviewed on Feb 24, 2016
    • Syndicate Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I am having the personal loan with the Syndicate bank and the services are good with them. Rate of interest was around 11% per annum. The loan amount got disbursed to my account within fifteen to twenty days of time.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 31, 2015
    • Syndicate Bank Personal Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I have closed the personal loan with Syndicate bank before four years of time. The EMI was around 4000 Rupees per month and I have paid it for 36 months of time. The services are good with them and I got the loan within a week of time. Branch manager notified me that the loan got disbursed to my account.
      Was this review helpful? 1
      , tiruchirapalli
      Reviewed on Dec 28, 2015
    • Syndicate Bank Personal Loan
      "Minimal processing fee"
      0.5 3.0/5 "Satisfactory"
      Interest rate offered by Syndicate bank was 9.9%, I would say its average. I dont have any idea about that. I am not sure about the market condition right now . I am holding a salary account that is why I had chosen Syndicate bank . They have taken rs 500 for one lakh as the processing fee which is very minimal.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 09, 2015
    • Syndicate Bank Personal Loan
      "Awesome"
      0.5 4.5/5 "Excellent!"
      Syndicate bank is very good. I visited the bank and took the personal loan. They took only two days for the disbursement the interest rate offered was similar with nationalized bank and 0% processing fee. Very simple documents were collected.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 30, 2015
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    Syndicate Bank Gold Loan is Rated as "Excellent!" by 41 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Syndicate Bank Gold Loan

    Overview about Syndicate Bank Gold Loan

    Syndicate Bank has designed a unique product, SyndSwarna, a gold loan scheme to aid borrowers during financial emergencies. This loan primarily caters to borrowers from the non-agriculture background who wish to avail immediate financial credit against their gold. Given the fact that most Indian households have gold investments, this is ideal to cater to any immediate financial requirement.

    Perfect Personal Loan Deals for you

    Features of Syndicate Bank Gold Loan

    SyndSwarna comes with a number of key features, some of which are highlighted below.

    • Multipurpose loan – Synd Swarna can be used for a number of purposes, ranging from business needs to personal financial emergencies.
    • High loan amount – Borrowers can avail loans to the tune of Rs 20 lakhs under this scheme.
    • Competitive interest rate – Synd Swarna is available at an extremely competitive interest rate.
    • Quick approval – This loan can be availed with minimal paperwork, resulting in quick approval and immediate disbursement.
    • Easy repayment – The loan can be repaid within a period of 1 year, providing borrowers adequate time to manage their finances.

    Syndicate Bank Gold Loan Interest Rates

    The interest charged by Syndicate Bank on its SyndSwarna loans are relevant to current market trends, with the rates changing accordingly. The current interest stands at 11.2% per annum (Base Rate + 1.5%), making it one of the lowest among contemporaries. These interest rates are subject to change at the sole discretion of Syndicate Bank and borrowers should check prevailing rates before applying for a loan.

    Note: Interest rate mentioned here are as of May 2016, with rates expected to change.

    Eligibility criteria to avail Syndicate Bank Gold Loan

    Applicants need to satisfy a few basic criteria before they avail SyndSwarna finance.

    • Accountholder – Applicants should be existing customers of Syndicate Bank. Individuals who wish to avail this loan and aren’t existing customers need to create an account before they are eligible.
    • Income – Applicants should have a sufficient source of income to repay the loan.
    • Gold owner – The gold being pledged should belong to the borrower.

    Documents required for Syndicate Bank Gold Loan

    Individuals who wish to avail a loan under SyndSwarna need to submit the following documents.

    • ID proof – A valid government approved ID proof (PAN card, Passport, DL, etc.)
    • Address proof – A valid government approved address proof (Utility bill, DL, PAN card, etc.)
    • Passbook – Existing customers can submit their passbooks instead of different ID/Address proofs
    • Photograph – Recent passport size photographs

    Syndicate Bank can ask for any additional documents as per its needs and requirements.

    Fees and charges associated with Syndicate Bank Gold Loan

    The table below highlights the various fees and charges associated with SyndSwarna.

    Type of fee/charge Amount
    Processing fee No processing fee
    Late payment penalty 2% more than the actual interest rate. Here it amounts to 13.2%

    Note: Charges mentioned in the table are subject to change. Applicants should check prevailing charges at time of application.

    Syndicate Bank Gold Loan FAQs

    1. What is the quantum of finance one can avail through Synd Swarna?

      The quantum of finance depends on the purpose, with a maximum of Rs 10 lakhs provided for non-priority needs. Individuals who wish to use funds for business purposes can avail loans up to a maximum of Rs 20 lakhs.

    2. How is interest computed under this loan?

      Interest is compounded on a monthly basis, with the final interest payable at the end of 1 year.

    3. What is the repayment policy adopted by Syndicate Bank for SyndSwarna?

      A bullet repayment scheme is in place for this loan, with the principal and interest to be paid at the end of 1 year.

    4. What is the ratio of security to loan amount received under Synd Swarna?

      The amount one can avail as loan depends on the purity of gold. Borrowers can currently get loans upto 66% of the value of gold kept as security. For example, if one pledges gold worth Rs 1 lakh, they can avail a loan of Rs 66,000 (approximately).

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