KEY FEATURES OF INDIAN BANK PERSONAL LOAN

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KEY FEATURES OF INDIAN BANK PERSONAL LOAN

Indian Bank  Personal Loan Features 

  • Loan amount: If you meet the criteria for eligibility, you can use a personal loan from Indian Bank as high as Rs. 15 lakh. 
  • Flexible tenure: Indian Bank personal loan can be paid back without any constraints as the tenure offered is flexible and varies from 12 to 36 months
  • A fair interest rate: Indian Bank’s personal loan interest rates start at 11.05  percent, lower than the rates offered by many NBFCs operating in India. 
  • Hassle-free application process: It is easy, 100% paperless, and can be done online to apply for a personal loan at Indian Bank
  • Minimum documentation: To get your Indian Bank  personal loan application approved, only a few basic documents are needed 
  • Prepayment fees for Nil: Indian Bank currently offers this unsecured loan with a zero prepayment fee, making it more flexible for applicants.

Criteria for Eligibility

The following are the main eligibility requirements for Indiabulls’ personal loan:

  • You are expected to be a resident of India 
  • You should be 21 years of age, at least, and 58 years of age to the maximum. 
  • You should be a salaried worker or self-employed entrepreneur. 

Indian Bank Personal Loan Charges

  • Part Payment charges: Part payment charges are allowed at Indian Bank at Nil Prepayment charges 
  • Processing Fee: A negligible amount of 0.5% is charged on the loan that the borrower avails which is deductible once the loan is transferred to his account.
  • Foreclosure charges: Indian Bank charges a Nil Amount if an applicant wants to repay the loan amount before the end of the tenure period.
  • Other charges: These might include EMI cheque bounce charges, loan cancellation charges, or maybe interest charges when the loan is repaid after the last date.

 

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