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  • Syndicate Bank Personal Loan Eligibility Calculator is Rated as "Excellent!" by 55 Users

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    Syndicate Bank Personal Loan Eligibility Calculator

    Overview about Syndicate Bank

    Syndicate Bank is one of the oldest banks of India. In the year 1969, the bank was nationalized by the government of the country. Currently the bank offers various financial products and services to customers in India as well as certain other countries. The bank offers online banking as well as core banking services to customers.

    Perfect Personal Loan Deals for you

    Syndicate Bank provides a host of financial products and services to its customers. These include, personal banking, agricultural banking, bancassurance, mutual fund services etc. Personal loans from Syndicate Bank fall under the category of personal banking and are a great financial tool to obtain money for various personal financial requirements.

    Syndicate Bank Personal Loan Eligibility Criteria

    In order to obtain personal finance from Syndicate Bank. Certain eligibility criteria need to be fulfilled by customers. Some of the most important eligibility parameters are listed below.

    • Job Type
    • Salaried customers
      Permanent employees of government sector firms like State govt. employees, central govt. employees and teachers at state run schools
      Non-salaried customers
      Professionals like engineers, doctors, CAs
      Other borrowers
      Other customers who are willing to deposit a collateral as security and avail personal finance

    • Age eligibility
    • In the age-group of 21-58 years

    • Loan applicant should have a regular, stable job
    • Maximum loan amount is Rs.3 lakhs

    Factors affecting Syndicate Bank Personal Loan Eligibility

    Personal finance is generally an unsecured form of credit and therefore, a lot of factors go into ensuring banks that a customer is truly eligible to obtain loan. Some of the most important eligibility factors considered by Syndicate Bank are listed below.

    • Age of the applicant
    • Age of the personal loan applicant makes a huge difference to a customer’s loan eligibility. Banks prefer customers in the age bracket of working population so as to ensure that the loan borrower will be able to repay the loan over the stipulated period of time.

    • Type of job of the applicant
    • The nature of your job indicates to an extent your repayment capacity and your frequency of payment. Customers with regular jobs are expected to pay regular installments and are more prone to paying their loans completely. This is the reason why customers from the government sector and those working with renowned companies are preferred by banks and are considered more eligible for credit than others.

    • Stability of job
    • Stability of job translates to a steady flow of income and as such higher chances of loan repayment and less chances of default. Hence, a stable job is a positive player in loan eligibility calculation.

    • Credit history
    • Your credit history shows your credit borrowing and repayment pattern in the past. Banks extrapolate on this history to ascertain your loan repayment pattern in future. Customers with a good credit history are eligible for personal loans since these customers are proven regular payers of dues and have less chances of default.

    • Relationship with the bank
    • Existing relationship with the bank is an important criteria in determining loan eligibility. If you have an existing account with a bank, it means that the bank is sufficiently informed of your payment patterns, amount in your account and so on. This gives lending entities a lot of information to fall back on in order to determine eligibility.

    • Monthly income of the loan applicant
    • Banks generally want only less than 40% of your monthly income to go towards loan repayments. In case existing debt liabilities are more then, this percentage of monthly salary might go up, in which case, customer might be less eligible for obtaining personal loan.

    • Existing debt liabilities
    • In case there are a number of loans pending on an applicant’s name, the chances of repayment become bleak and as such banks do not generally grant loans for people with multiple credit liabilities.

    How credit score affects your Syndicate Bank Personal Loan Eligibility?

    Credit score is a number furnished by CIBIL by reading and assessing your credit report. In a nutshell, credit score reflects your credit-worthiness. Banks fall back on this score to a great extent when determining loan eligibility.

    A good credit score is a must to avail personal finance. Customers who tend to pay their bills and loans on time and who make regular payments are the ones with good credit history. Customers with poor credit score find it really hard to obtain credit. Even if they do, their personal finance comes at exorbitant interest rates. It is advisable for customers to check their credit score and rectify it if needed, before applying for personal loan with any bank.

    How to increase Syndicate Bank Personal Loan Eligibility?

    Personal loan eligibility can be increased by taking a few steady steps that contribute to strengthening a customer’s credit history.

    • Maintain a good credit history:
    • As discussed in the section above, a good credit history is imperative to higher loan eligibility. Customers should always know their credit score and credit history before they start applying for personal loans. This will give them the required buffer time to improve their credit history.

    • Have a mix of both secured and unsecured loans:
    • Having a mix of both unsecured and secured loans in the financial portfolio indicate a more aware and responsible customer. This in turn has a positive effect on your credit score and subsequently on your personal finance eligibility with Syndicate Bank.

    • Don’t apply for finance in too many banks:
    • You might not come to know but the more loan applications you make, the lower your credit score goes. This means that instead of applying at multiple banks for loan, the best way is to research and find out about the loan product you wish to avail and then apply for just that loan scheme with the bank of your choice.

    • Do not change your job frequently:
    • A stable job and a regular salary are pre-requisites for obtaining personal loan from any bank. Customers who frequently change jobs show an erratic monthly income and hence such customers have lower eligibility than those with steady jobs.

    FAQs on Syndicate Bank Personal Loan Eligibility

    What is the maximum personal loan amount offered by Syndicate Bank?

    The maximum loan amount that can be availed under the personal finance scheme of Syndicate Bank is Rs.5 lacs. Quantum of loan is also dependent upon the salary of the loan applicant. It comes as a certain percentage of the annual salary.

    What is the service charge for personal loan from Syndicate Bank?

    Service charges are subject to bank’s discretion and are decided on a case-to-case basis.

    Do I need to be an existing Syndicate Bank customer to avail personal loan?

    Yes. Existing customers of Syndicate Bank are offered personal finance. New customers can first obtain an account with the bank and then apply for personal loan.

    Can self-employed individuals apply for personal finance from Syndicate Bank?

    Yes. Self-employed individuals can also apply for Syndicate Bank personal loan.

    Does Syndicate Bank offer separate personal finance scheme for women applicants?

    Yes. Special personal finance scheme is offered by Syndicate Bank for women applicants.

    Do I need to submit a collateral as security for personal finance from Syndicate Bank?

    Yes. A collateral is needed by the bank for sanctioning your personal loan.

    Personal Loan Reviews

    • Syndicate Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I've taken a personal loan from the Syndicate Bank. The loan amount was 2 lacs, the tenure of the loan is 5 years. I got the loan amount with in 15 days and the interest rate was also in par with the market rate. There hasn't been any issues with the loan experience with the Syndicate bank.
      Was this review helpful? 3
      , bangalore
      Reviewed on Aug 13, 2018
    • Syndicate Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The process in getting the loan had been very good and the loan amount which they had given has been satisfactory as well. The interest rate has been lower when compared with the other banks. There has not been any issues faced with the banking service which they had been providing so far.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jul 18, 2018
    • Syndicate Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience with Syndicate bank was good, the process was quick and i received my loan amount on time. The loan amount was for Rs 1 lakh with nominal interest rate when compared to other banks. There was no processing fees and hidden charges for this loan. The tenure period of this loan is 1 year.
      Was this review helpful? 3
      , noida
      Reviewed on Apr 18, 2018
    • Syndicate Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Got the personal loan from the SYNDICATE BANK around 5 years ago . The customer support service is good here. They have disbursed the loan amount within 7 days of time. The rate of interest and the charges were very low with the SYNDICATE BANK when compared with others.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 27, 2018
    • Syndicate Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Syndicate bank and my loan experience was very good. The loan amount was for Rs 3 lakhs with nominal interest rate when compared to other banks. The process was quick and i received my loan amount on time. Customer service was fine and they responded on time. The tenure of this loan is 5 years.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Mar 15, 2018
    • Syndicate Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Syndicate bank,the loan amount is two lakhs,the rate of interest is nominal as compared to others.Documents were submitted door step,they had processed the loan within a weeks time.The tenure is for two years i had closed to long back.
      Was this review helpful? 1
      , chennai
      Reviewed on Feb 23, 2018
    • Syndicate Bank Personal Loan
      "Good service"
      0.5 2.0/5 "Expected more"
      SYNDICATE BANK has offered me a personal loan for the loan amount of Rs,5,00,000. I have got the loan amount within a week time. The customer support service is average with the SYNDICATE BANK. The rate of interest is low with the SYNDICATE BANK when compared with Fullerton.
      Was this review helpful? 1
      , mysore
      Reviewed on Jan 22, 2018
    • Syndicate Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      Due to lack of credit score I haven't got the personal loan from the Syndicate bank. The customer support is good with the syndicate bank but they haven't approved my loan due to my lack of credit score, but their customer support is good they have approved the loan for my other colleagues.
      Was this review helpful? 3
      , vijayawada
      Reviewed on Dec 26, 2017
    • Syndicate Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan experience with Syndicate bank was good, the loan amount was for Rs 4 lakhs with the rate of interest of 13.5% which is high when compared to other banks. The process was quite long and it took 1 month for the loan amount to get disbursed and the tenure period was 5 years. Customer service was good and they followed up correctly.
      Was this review helpful? 5
      , bangalore
      Reviewed on Dec 21, 2017
    • Syndicate Bank Personal Loan
      "Better service"
      0.5 2.0/5 "Expected more"
      The Syndicate personal loan approval requires a surety person and also their procedure are very complicated with this personal loan process. I have got the personal loan with the Syndicate bank around 10 years ago. The customer support and the response is average. The rate of interest and the charges are high when I got the personal loan from Syndicate bank.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 05, 2017
    • Syndicate Bank Personal Loan
      "Good experience"
      0.5 5.0/5 "Blown Away!"
      The experience with Syndicate Bank in regards to Personal Loan was great. They gave me a proper Loan, to start of the processing time for it was low and the documents were not a hassle. Other than that they gave me a low EMI too. I never had a single issue throughout the Loan.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Nov 11, 2017
    • Syndicate Bank Personal Loan
      "SATISFACTORY"
      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? 1
      , mysore
      Reviewed on Oct 23, 2017
    • Syndicate Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      They use to deduct my monthly emi from my savings account ,but their process is very slow it will takes 6 to 7 days for their process to complete . Even the interest rate was 17.5% which was very high ,overall service is average from SYNDICATE BANk for my personal loan service.
      Was this review helpful? 1
      , mysore
      Reviewed on Oct 06, 2017
    • Syndicate Bank Personal Loan
      "Goor experience"
      0.5 4.0/5 "Great!"
      My personal loan was taken with SYNDICATE bank 3 years back. The rate of interest was between 12-13% which was satisfactory for 2 lakhs loan. The customer service and responsiveness was good . They have provided door step service for the documentation collection.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 04, 2017
    • 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? 1
      , 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? 2
      , bangalore
      Reviewed on Mar 29, 2017
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