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  • Syndicate Bank Personal Loan

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  • Syndicate Bank offers personal loans for salaried and non-salaried individuals with a maximum repayment tenure of 60 months under the SyndSaral scheme.

    • Maximum loan amount is Rs.20 lakh
    • Zero prepayment/foreclosure charges
    • Attractive interest rates
    • Low processing fees
    • Flexible repayment tenures ranging from 12 months to 60 months
    • Available to salaried individuals as well as self-employed individuals
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    Compare Syndicate Bank Personal Loans

    Listed below are the various personal loan schemes offered by Syndicate Bank along with the particulars of each loan described below:

    SyndSaral

    Eligibility Criteria

    For salaried class: Must be a permanent employee of the Central or State Government, Public Sector, Recognised Private Sector Companies, a professor or a teacher

    For non-salaried class: Must be a professional, lawyer, doctor, Chartered Accountant, engineer or other non-salaried class applicant

    Interest Rate (p.a.) - 13.45% for salaried applicants
    - 13.45% for unsecured loans to non-salaried applicants
    - 12.45% for secured loans to non-salaried applicants
    Loan Amount For salaried class:
    - In case the customer has a salary account with Syndicate Bank, the maximum loan amount will be 12 months’ gross salary
    - In case the customer does not have a salary account with Syndicate Bank, the maximum loan amount will be 12 months’ gross salary subject to a maximum of Rs.3 lakh
    For non-salaried class:
    - Rs.5 lakh for unsecured loans
    - Rs.20 lakh for secured loans
    Processing Fees 0.50% of the loan amount, subject to a minimum of Rs.500

    SyndSenior

    Eligibility Criteria

    Customers who wish to avail the SyndSenior loan from Syndicate Bank must be pensioners who receive regular monthly pension from the State or Central Government, defence establishments, Public Sector Units or Undertakings, or other government or quasi government institutions provided their pensions are routed via accounts held with Syndicate Bank.

    Interest Rate (p.a.) - Up to Rs.10 lakh for applicants below 65 years of age
    - Rs.5 lakh for applicants between 65 and 70 years of age
    - Rs.2 lakh for applicants over the age of 70 years
    Loan Amount 12.20% p.a.
    Processing Fees - No processing fees for loans up to Rs.50,000
    - Rs.200 for loans above Rs.50,000

    SyndRent

    Eligibility Criteria

    Customers who wish to avail the SyndRent loan from Syndicate Bank must be bona fide owners of commercial or residential property standing in their own names, and the property must be let out to reputed companies, institutions, or the Government.

    Interest Rate (p.a.) 55% to 80% of the net rent receivables based on the unexpired period of lease
    Loan Amount - 11.45% for accounts classified as CRE
    - 10.70% for accounts classified as non CRE
    Processing Fees As applicable to fund based limit

    SyndConnect

    Eligibility Criteria

    Customers who wish to avail the SyndConnect loan from Syndicate Bank must be permanent employees of the State or Central Government, Public Sector Undertakings or Units such as financial institutions, banks, the Life Insurance Corporation of India, defence establishments, or other government or quasi government institutions or blue chip companies whose salaried are credited through Syndicate Bank.

    Interest Rate (p.a.) 15 times the gross monthly salary of the applicant subject to a maximum of Rs.20 lakh
    Loan Amount 12.20% p.a.
    Processing Fees 0.25% of the loan amount, subject to a minimum of Rs.250

    SyndSolar

    Eligibility Criteria

    Customers who wish to avail the SyndSolar loan from Syndicate Bank must be new or existing home loan customers or home owners who wish to install solar rooftop systems. The existing home loan may or may not be taken from Syndicate Bank to avail SyndSolar.

    Interest Rate (p.a.) 75% of the cost of the project subject to a maximum of Rs.3,75,000
    Loan Amount 8.70% p.a.
    Processing Fees Nil

    SyndDelight

    Eligibility Criteria

    The SyndDelight loan scheme from Syndicate Bank can be availed by home loan customers who have shown satisfactory repayment record over the past three years or more.

    Interest Rate (p.a.) 20% of the home loan limit subject to a minimum of Rs.50,000 and a maximum of Rs.20 lakh
    Loan Amount 11.45% p.a.
    Processing Fees Rs.500 per lakh

    SyndSwarna (Non EMI)

    Eligibility Criteria

    The SyndSwarna loan scheme from Syndicate Bank can be availed by new as well as existing customers who have been properly introduced to Syndicate Bank and adhere to KYC norms.

    Interest Rate (p.a.) - Up to Rs.10 lakh for non-priority purposes
    - Up to Rs.20 lakh for business purposes
    Loan Amount 10.20% p.a.
    Processing Fees Nil

    SyndSwarna (EMI)

    Interest Rate (p.a.) Rs.10,000 to Rs.10 lakh
    Loan Amount 10.20% p.a.
    Processing Fees Nil

    SyndSwarna (Non Agriculture)

    Interest Rate (p.a.) - Up to Rs.10 lakh for personal purposes
    - Up to Rs.20 lakh for business purposes
    Loan Amount 10.20% p.a.
    Processing Fees Nil

    Fees and Charges

    • Processing charges: 0.50% of the loan amount subject to a minimum of Rs.500 for SyndSaral, Rs.200 for loans above Rs.50,000 for SyndSenior, 0.25% of the loan amount, subject to a minimum of Rs.250 for SyndConnect, Rs.500 per lakh for SyndDelight, and nil for the other personal loans offered by Syndicate Bank.
    • Documentation charges: Rs.100 per lakh subject to a maximum of Rs.500 for SyndConnect, Rs.200 per lakh subject to a maximum of Rs.25,000 for loan amounts above Rs.2 lakh for other loans.
    • Other charges: Other charges such as insurance charges, legal charges, consultancy charges, supervision charges, valuation fees, etc. will be charged at actuals.
    • Late payment of EMIs: The overdue interest for the delayed period will be charged as late fees.

    Documents Required

    • Signed application form with photograph
    • Copy of your driving license, passport, or Voter’s ID
    • Bank statement for the past three months
    • The latest salary slip
    • The latest Form 16 or Income Tax Returns

    How does the EMI calculation for Syndicate Bank personal loan work?

    Let’s say that Mr. Vishwas, a marketing professional, who draws a monthly salary of Rs.45,000, avails a personal loan from Syndicate Bank. The amount borrowed by Mr. Vishwas is Rs.1.5 lakh and the tenure of the loan is one year. The interest rate applicable to the loan is 13.55% p.a., and Syndicate Bank levies a processing fee at 0.50% of the loan amount. In this case, here’s what Mr. Vishwas’ repayment schedule will look like:

    Year Principal Paid(A) Interest Paid(B) Total Payment (A+B) Outstanding Loan Balance
    Apr 2019 Rs.11,743 Rs.1,694 Rs.13,437 Rs.1,38,257
    May 2019 Rs.11,875 Rs.1,561 Rs.13,436 Rs.1,26,382
    Jun 2019 Rs.12,009 Rs.1,427 Rs.13,436 Rs.1,14,373
    July 2019 Rs.12,145 Rs.1,291 Rs.13,436 Rs.1,02,228
    Aug 2019 Rs.12,282 Rs.1,154 Rs.13,436 Rs.89,946
    Sep 2019 Rs.12,421 Rs.1,016 Rs.13,437 Rs.77,525
    Oct 2019 Rs.12,561 Rs.875 Rs.13,436 Rs.64,964
    Nov 2019 Rs.12,703 Rs.734 Rs.13,437 Rs.52,262
    Dec 2019 Rs.12,846 Rs.590 Rs.13,436 Rs.39,416
    Jan 2020 Rs.12,991 Rs.445 Rs.13,436 Rs.26,424
    Feb 2020 Rs.13,138 Rs.298 Rs.13,436 Rs.13,286
    Mar 2020 Rs.13,286 Rs.150 Rs.13,436 Rs.0

    As you can see from the above amortisation table, Mr. Vishwas will be paying Rs.13,346?as his EMIs until March 2020. The total amount he will be paying is Rs.1,61,986 (loan amount of Rs.1.5 lakh, processing fees of Rs.750, and total interest payments of Rs.11,236).

    Compare Syndicate Bank personal loan with loans from other lenders

    Fees and Charges Kotak Mahindra ICICI Bank Standard Chartered Bank IDFC Bank
    Interest Rate 10.99% p.a. 11.25% p.a. 11.99% p.a. 11.5% p.a.
    Processing Fees 2.5% of the loan amount + GST as applicable 2.25% of the loan amount + GST as applicable 3% of the loan amount 3.5% of the loan amount + GST as applicable
    Foreclosure Charges 5% of the principal outstanding + GST as applicable 5% of the principal outstanding + GST as applicable 2% to 5% of the principal outstanding 5% of the principal outstanding
    Late Payment Fees 3% p.a. 24% p.a. Rs.495 + GST as applicable 2% p.a. on the overdue EMI

    FAQs on Syndicate Bank Personal Loan

    Are there any special discounts for women borrowers who apply for a Syndicate Bank personal loan?

    Yes, women borrowers can make the most of a 0.25% on the SyndSaral personal loan scheme.

    Do I have to provide any guarantee or surety when taking the SyndSaral loan from Syndicate Bank?

    Syndicate Bank accepts surety in the form of a third party and spouses having independent income in addition to adequate net worth.

    Is there a penal interest on the SyndSenior loan scheme?

    Yes, 2% above the applicable interest rate will be charged on the overdue portion as penal interest.

    What is the repayment tenure for the SyndSenior loan scheme?

    Customers who avail the SyndSenior loan scheme will have to repay it in a maximum of 72 EMIs.

    What is the repayment tenure for the SyndSwarna scheme?

    The maximum repayment tenure for the SyndSwarna scheme is 36 months.

        

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    Syndicate Bank Personal Loan Reviews

    • Syndicate Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      It is very good experience for me on the personal loan, to sanction the loan, they taken only few days. I have taken my personal loan through SYNDICATE BANK .The interest rate is lower than market. The loan amount is very satisfactory and tenure period is fine . Overall it is good .
      Was this review helpful? 1
      , pune
      Reviewed on Jul 04, 2019
    • Syndicate Bank
      Syndicate Bank Personal Loan
      "Need to decrease charges"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan in SYNDICATE bank for more than 4 years. From bank which was offered for a loan amount was sufficient for the tenure of 5 years. Ont time the process was done and got sanctioned.The rate of interest and the processing fee are high.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 22, 2019
    • Syndicate Bank Personal Loan
      "Quick and best experience ever"
      0.5 5.0/5 "Blown Away!"
      I availed personal loan from Syndicate bank, even I am working with nationalized bank. Hence they got tied up with them, the interest rate is quite reasonable around 8.75% for the loan amount Rs.1.2 lakhs. I am very much satisfied with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 08, 2019
    • Syndicate Bank Personal Loan
      "Very good servivce"
      0.5 5.0/5 "Blown Away!"
      I have take personal loan with SYNDICATE BANK . The process of getting the loan was very simple it is like within 2 days i got my loan . The rate of interest is very nominal compare to other in the market and the loan amount which i require i got the same .
      Was this review helpful? 2
      , hyderabad
      Reviewed on May 14, 2019
    • Syndicate Bank Personal Loan
      "Best interest on the Personal loan"
      0.5 5.0/5 "Blown Away!"
      I am a salary holder of Syndicate bank and its a government bank. Hence I got the best interest rate around 10% for Rs. 5 lakhs for the duration five years. The paper work is very easy and sanctioned the loan amount within two working days, I am happy about it.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Feb 28, 2019
    • Syndicate Bank Personal Loan
      "Higher interest rates"
      0.5 3.0/5 "Satisfactory"
      Long back in the year 2005, i have purchased the loan from Syndicate bank. Even though it has a tenure period of 60 months, i have pre-closed the loan in 1 year because the interest rate was high. I got the loan amount of Rs. 1.5 lakhs. Their services are not upto the mark.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 21, 2019
    • Syndicate Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with this loan has been excellent and the process has been simple. The loan amount which they had provided has been sufficient and the interest rate has been nominal. There has been some charges with them which has bee okay and they had done the approval and completed the process on time.
      Was this review helpful? 3
      , secunderabad
      Reviewed on Nov 13, 2018
    • Syndicate Bank Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with SYNDICATE BANK , tenure period is 4year and they charge processing fee also and it is nominal in the market . Rate of interest is 14% and it is too high compare to others . I am happy with the loan amount and overall it is good.
      Was this review helpful? 6
      , bangalore
      Reviewed on Oct 22, 2018
    • 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? 8
      , 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? 4
      , 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? 2
      , 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? 2
      , 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? 3
      , 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? 4
      , 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? 2
      , mysore
      Reviewed on Oct 23, 2017
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