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  • Syndicate Bank Personal Loan Interest Rates 2015 is Rated as "Excellent!" by 53 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 2018

    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.

    Syndicate Bank Personal Loan Interest Rates Reviews

    • 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? 0
      , 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? 0
      , 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? 0
      , 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? 0
      , 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? 4
      , 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? 0
      , 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? 0
      , 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? 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
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