Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Syndicate Bank Personal Loan Interest Rates 2015 is Rated as "Excellent!" by 43 Users

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    Syndicate Bank Personal Loan Interest Rates 2015

    About Syndicate Bank Personal Loan

    Syndicate Bank is one of the largest banking institutions in the country, and provides personal loans to both salaried and non-salaried individuals to fulfill their personal requirements of any kind. Be it a loan for your child’s education or wedding, Syndicate Bank will provide you with a personal loan at affordable rates of interest, making you worry less about the loan and think about the things that matter more to you.

    Perfect Personal Loan Deals for you

    Syndicate Bank provides you with different types of personal loans:

    1. Synd Saral: The purpose of this loan is to enable customers to to buy consumer durable goods. This personal loan can be availed by women for expenses like weddings, higher education,etc. NRIs and agriculturists are also eligible for this loan.
    2. Synd Senior: This loan is meant for senior citizens, the scheme offers them loans at more affordable rates of interests.
    3. Synd Rent: This kind of loan can be taken for any business or personal credit requirement.

    Syndicate Bank Personal Loan Interest Rates

    Syndicate Bank personal loans depend on the base rate and rates vary according to the type of loan availed. The Syndicate Bank Personal Loan interest rates are mentioned below.

    1. For salaried individuals: Base rate + 4.75% per annum, compounded monthly
    2. For non-salaried individuals: Base rate + 4.75% per annum, compounded monthly
    3. Others: Base rate + 1.75% per annum, compounded monthly

    Syndicate Bank Personal Loan Interest Rates 2017

    Particulars Salaried Self-employed
    Interest rate 14.20% p.a. 14.20% p.a.
    Loan Amount Rs.50,000 to Rs.2 lakhs Rs.50,000 to Rs.2 lakhs
    Loan Tenure 1 to 5 years 1 to 5 years
    Lowest EMI Rs.2,337 (for Rs.1 lakh loan amount with maximum loan tenure at the lowest interest rate). Rs.2,337 (for Rs.1 lakh loan amount with maximum loan tenure at the lowest interest rate).
    Processing Fee 0.5% with a  minimum of Rs.500 + GST 0.5% with a  minimum of Rs.500 + GST
    Age 21 to 58 years 21 to 58 years
    Prepayment Charges 1% 1%
    Foreclosure Charges Nil Nil

    * Please note: all rate of interest, charges, fees, etc. are charged at the bank’s discretion.

    How to calculate interest/ EMI on my Syndicate Bank Personal Loan

    You can calculate your EMIs for Syndicate Bank Personal Loan by using a personal loan EMI Calculator or the mathematical formula used for EMI calculation. By using an online EMI calculator you can add the information of the loan such as - the principal amount, rate of interest, tenure of your loan and processing fees (if any). When this information is entered into the EMI calculator, it will instantly provide you with your monthly EMIs and the loan amortization table will give you a picture of how much interest you need to pay on the principal amount on a yearly basis.

    Example: When you take a personal loan of Rs. 1 lakh from Syndicate Bank at 15% for 60 months and are not charged any processing fees, you pay the below mentioned amounts as repayment towards the principal as well as interest component.

    Loan table:

    Year Principal paid (Rs) Interest paid (Rs) Balance amount (Rs)
    2016 14519 14,029 85,481
    2017 16,853 11,695 68,627
    2018 19,563 8,985 49,065
    2019 22,707 5,841 26,358
    2020 26,358 2,190 0

    Factors affecting Syndicate Bank Personal Loan Interest Rates:

    There are many factors that may affect your Syndicate Bank Personal Loan interest rates. And it is important to know the following factors before you apply for a personal loan with Syndicate Bank:

    1. Employment particulars: Syndicate Bank can take into consideration your employment type before it provides you with a personal loan, and this could determine the interest rate on this loan. Banks normally have different eligibility conditions for salaried, self-employed individuals and applicants belonging to categories such as A and B.
    2. Relationship with Bank: A good relationship with Syndicate Bank may help you receive a personal loan at a lower rate of interest. If you maintain a stable relationship with your bank by paying your debts on time without defaulting, and maintain a healthy financial record, the bank begins to trust you and can offer you a lower rate of interest on your loan. Syndicate Bank can provide it’s high-valued customers with lower interest rates.
    3. Tenure of loan: Try to take a loan for a longer tenure. It may help you get a cheaper rate of interest on your personal loan compared to a loan taken for a short tenure.
    4. Repaying capabilities: One of the biggest factors that can give you a lower rate of interest on your Syndicate Bank Personal Loan is your repaying capability. If the bank thinks that you would be able to repay the amount without hiccups, it may offer you lower rate of interest.

    How CIBIL Score affects your Syndicate Bank Personal Loan Interest Rates

    Your CIBIL score or credit report is very important, and it is critical to maintain a good score by repaying your loans and bills on time. There is a possibility that Syndicate Bank may offer you reduced rates of interest on your personal loan because you have a good CIBIL score. If you credit score is 750 or above, you can be in a good position with the bank to request for a lower rate of interest on your personal loan.

    Key things you should know about Syndicate Bank Personal Loan interest rates

    You should know the following key things before you apply for a Syndicate Bank Personal Loan in 2015:

    1. You need to know how to calculate the Syndicate bank personal loan interest rate on your principal amount and your monthly EMIs for the same. A Personal Loan EMI Calculator will help you know the exact amount of your interest and monthly EMIs.
    2. Read all the terms and conditions mentioned in the fine print and find out if any hidden fees & charges are involved in your personal loan.
    3. Maintain a good credit score. A good credit score helps to avail discounted interest rates on personal loans.
    4. Keep yourself aware of fixed rate of interest and floating rate of interest. If you opt for a fixed rate personal loan, you need to pay a fixed interest amount on your personal loan for the entire period. In case of a floating rate personal loan, your interest payments will vary.

    News About Syndicate Bank Personal Loan

    • Syndicate Bank goes down after it retained base rate, MCLR, and BPLR

      Syndicate Bank went down by 1.38% on the Bombay Stock Exchange (BSE) after the bank retained its base rate, marginal cost of funds based lending rates, and benchmark prime lending rate without making any alterations. This is effective from 10 October 2017. The bank declared this decision after market hours.

      The S&P BSE Sensex went up by 157.09 points, or 0.49%, to 32,081.50. The S&P BSE Mid-Cap index went up by 86.60 points, or 0.54%, to 16,022.28.

      As compared to Rs.62.55 on 29 September 2017, the stock had increased on 10 October 2017 by 9.91% in 6 sessions to reach Rs.68.75.

      11th October 2017

    Syndicate Bank Personal Loan Interest Rates Reviews

    • 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? 0
      , 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? 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
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