Corporation Bank Personal Loan

⋆ Interest Rate 9.99% ⋆

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Why us?

Rates as low as 9.99%*
Loans Up to 30 Lacs
Same Day Disbursal
Doorstep Service
Unbiased Experts Advice

Corporation Bank Personal Loan Key Features

Eligibility Criteria Details
Age Criteria 21 – 60 (at loan maturity)
CIBIL Score Minimum 750 or above
Corporation Bank Personal Loan Interest Rate 9.99% p.a.
Lowest EMI per lakh Rs 2148
Tenure 12 to 60 months
Corporation Bank Personal Loan Processing Fee 1%
Prepayment Charges Allowed after 12 Months (2 – 4 %)
Part Payment Charges Allowed after 12 Months (2 – 4 %)
Minimum Loan Amount ₹50,000
Maximum Loan Amount ₹ 75 Lakh

Each Feature Explained in Detail Below


Benefits of Corporation Bank Personal Loan

  1. Easy Disbursal: The bank offers quick and easy disbursal offering same-day disbursal for pre-approved customers who are already having an account with the bank. For others also the bank gives approval within 1-3 days.
  2. No need of any guarantor: You do not need any guarantor for this type of loan which makes it one of the easiest products to avail.
  3. Personal Documents: You only need to present the documents for this type of loan, so make sure that you present genuine and authentic documents.
  4. Simple Application Process: The filing process is simple and you just need some basic KYC Documents along with your Income proof and 2 Passport size photographs.

Corporation Bank Personal Loan Eligibility Criteria

The eligibility criteria for a personal loan are as follows:

CIBIL score Criteria 750 and Above
Age Criteria 21-60 years
Min Income Criteria Rs 25000/month
Occupation Criteria Salaried/Self-employed

Corporation Bank Personal Loan Interest Rate, Fees & Other Charges

Category Details
Interest Rate 9.99% per annum
Processing Charges 1%
Prepayment  No prepayment is allowed until 12 EMIs are paid
Preclosure No foreclosure is allowed until 12 EMIs are paid
Prepayment Charges 13-24 months: 4% of loan principal outstanding
25-36 months: 3% of loan principal outstanding
>36 months: 2% of loan principal outstanding
Stamp Duty As per state laws
Cheque Bounce Chgs ₹ 550/chq +  GST
Floating Rate of Interest Not Applicable
Overdue EMI Interest 2% p.m.(on overdue amount)
Amortisation Schedule Chgs Rs 200 + GST

Corporation Bank Personal Loan Documents Required

Particular
Document
Form
Duly filled application form
Proof of Identity

Copy of 

> Passport

> Driving License

> Aadhar Card

> Voter ID Card

Proof of Address

Rent Agreement (Min. 1 year of stay)

Utility Bills

Passport (Proof of permanent residence)

Ration card

Proof of Income

> ITRs : Last two Assessment years

> Salary Slip: Last 6 months

> Bank Statement: Last 3 months

Documents Required for Salaried Applicants:

  • Last three months salary slips
  • Six months old bank statements are considered
  • PAN Card is a must
  • Aadhaar Card is required as an identity proof
  • Residence Proof (Owned/Rented/Company provided)
  • Two passport-sized photographs

*NOTE: In case of rented apartments, rent agreement is to be attached.

Documents Required for Self-Employed Applicants:

  • All financials are considered (company documents as well as ITR files)
  • PAN Card
  • Aadhaar Card
  • Residence Proof
  • Two passport-sized photographs

Personal Loan EMI Calculator for Corporation Bank

EMI Calculator

Corporation Bank Personal Loan Comparison with Other Banks

Particulars Corporation Bank Bajaj Finserv Axis Bank Citibank ICICI Bank
Interest Rate 9.99% 13.75% 15.75% to 24% Starting from 10.99% 11.50% to 19.25%
Tenure 12 to 60 months 12 to 60 months 12 to 60 months 12 to 60 months 12 to 60 months
Loan amount Upto Rs. 40 lakh Up to Rs. 25 lakh Rs. 50,000 to Rs. 15 lakh Up to Rs. 30 lakh Upto Rs. 20 lakh
Processing Fee 1%-2% Up to 3.99% of the loan amount Up to 2% of loan amount plus GST Up to 3% of the loan amount Up to 2.25% of loan amount plus GST

How to apply for Corporation Bank Personal Loan?

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Other Loan Products from Corporation Bank

Why should you apply for Corporation Bank Personal Loan with Dialabank?

Dialabank helps you to choose the best option of banks by providing you with the updated market comparison of different banks so that you can make the right choice. We at Dialabank have already helped thousands of people to get the loan they need without any issue and we look forward to continuing in doing so. Apply with us today to get the offers and special deals on Corporation Bank Personal Loan.

Call us at 9878981166 to avail Corporation Bank Personal Loan.

How to Calculate EMIs for Corporation Bank Personal Loan

You can easily calculate the EMIs on your personal loan, you just require the basic information regarding the loan –

  1. Amount of the Loan
  2. Rate of Interest
  3. Tenure

Just put these values in the calculator below to find the exact amount payable each month.

Corporation Bank Personal Loan Processing Time

Corporation Bank usually takes 2 weeks or 15 days when it comes to the Processing of Personal Loan Applications. However, Corporation Bank gives the approval for the loan in just a few hours to a maximum of 1-3 days to its pre-approved already existing account holders.

Corporation Bank Personal Loan Preclosure Charges

Corporation gives you the option of pre-closing your Personal Loan after a period of a minimum of 12 months of taking the loan and paying 12 successful EMIs on your Personal Loan. However, Corporation Bank charges a Prepayment or Pre-closure charge, if you wish to do so we have listed the charges below:

Time Pre-closure Charge
13 to 24 months 4%
25 to 36 months 5%
more than 36 months 2%

Pre Calculated EMI for Corporation Bank Personal Loan

Loan Amount @ Rate of Interest Tenure Of Loan
1 year 2 years 3 years 4 years 5 years
2.5 lakh @ 11.25% Rs. 22,125 Rs. 11,681 Rs. 8,214 Rs. 6,492 Rs. 5,467
5 lakh @ 12% Rs. 44,424 Rs. 23,536 Rs. 16,607 Rs. 13,166 Rs. 11,122
10 lakh @ 12.5% Rs. 89,082 Rs. 47,307 Rs. 33,453 Rs. 26,579 Rs. 22,497
15 lakh @ 13% Rs. 1,33,975 Rs. 71,312 Rs. 50,540 Rs. 40,241 Rs. 34,129

Different Offers for Corporation Bank Personal Loan

Corporation Bank has a vast range of Personal Loan offers to start from Personal Loan for Salaried Individuals and Personal Loan to Self Employed Individuals ranging to Personal Loan for Doctors, Marriage Personal Loan, Personal Loan for Pensioners, etc. All of these are given below along with the details and features.

Corporation Bank Personal Loan for Salaried Employees

Corporation offers Personal Loan for Salaried Employees at attractive rates of interest. The amount that you get as a loan essentially depends on the Company that you work for, The take-home salary of the employee as well as the city of residence of the employee. Corporation offers these loans for a tenure of 12-60 months and provides instant approval along with funds to pre-approved customers.

Corporation Bank Personal Loan for Self Employed Individuals

Corporation Bank Personal Loan for Self Employes is a loan product offered to individuals who are self-employed and in need of funds. The bank provides them with attractive rates of interest on their personal loan and tenure of 12-60 months. However, as compared to Salaries Employees, you have to present more documents here as you need to provide the bank with sufficient documents related to your Business to prove its continuity as well as your steady income. You can get a maximum loan of Rs 40 lakhs.

Corporation Bank Doctor Loan

Corporation Bank offers special Personal Loans to Doctors who are in need of funds. Bank gives them loans ranging from Rs. 50000 to Rs. 50 lakhs for a tenure of Rs. 12 – 60 months at interest rates starting from 11.25%. There are certain eligibility criteria’s for availing this loan –

  1. The credit score should be at least 650.
  2. Age should be 25-65 years.
  3. Medical Experience – More than 4 years (as a doctor).

Corporation Bank Marriage Loan

Corporation offers Personal Loan for Marriage as a solution to people who are facing shortage funds for their or their close one’s marriage. There is no restriction on using this loan amount and can be used for anything from wedding banquets to makeup or stylists, etc. You get these amounts quickly within seconds if you are a pre-approved customer with the bank or as quickly as 4 hours in some cases. The bank charges an attractive interest rate and gives you the option of choosing the tenure for the loan.

Corporation Bank Personal Loan for Government Employees

Government Employees are offered Personal Loans at low-interest rates by Corporation Bank which starts at about 11.49%. They are given special offers as well as quick disbursal along with the option of choosing the tenure for the loan. No Processing Fee is charged from the Defence Personnel. You can apply for this by Visiting the nearest Corporation Bank Loan Branch or Call us at 9878981166 to avail of Corporation Bank Personal Loan for Government Employees.

Corporation Bank Personal Loan for Pensioners

Corporation Bank offers special plans for Pensioners looking out for Personal Loan. They provide good funding at attractive rates of interest to pensioners. Some of the features of Corporation BankPersonal Loan for Pensioners are listed below –

  • Minimum Pension Amount – 25000+
  • Maximum age – 65 years at loan maturity
  • 50% of extra income (FD interest rental income, etc.) can be counted as Actual Income
  • Interest Rate – 13-17%
  • Tenure – a minimum of 12 months

Corporation Bank Personal Loan Balance Transfer

Personal Loan Balance Transfer refers to a process where you shift your personal loan from one lending institution to another. In this, your new bank pays off your previous loan and gives you the loan. You get many benefits if you do this but you may have to pay the foreclosure charges associated with that loan along with the Processing fee on your new loan. Some of the benefits are listed below –

  1. Lower Interest Rate
  2. Extended Tenure for the Repayment
  3. You may also get additional features associated with your Loan such as no processing fee, etc. based on your Cibil score.

Corporation Bank Personal Loan Top Up

Top up facility on your loan is the additional amount that you borrow from the bank on your existing loan. A corporation lets you avail of this facility if you have paid at least 9 regular EMIs without any hindrances in payment. You can get a top-up of a minimum ₹50,000 and a maximum of your already sanctioned loan amount.

How to Apply Online for Corporation Bank Personal Loan?

You can apply for Corporation Bank Personal Loan online by visiting the Corporation’s online portal and filling the form for applying for a personal loan or you can simply follow the given steps for applying for an HDFC Personal Loan –

  • Visit DialaBank
  • Fill the Application form and submit it.
  • Wait for a call from one of our Relationship Managers who are experts in this field.
  • Get personalized service for availing Personal Loan by comparing the features of various banks and selecting the one which is most suitable according to your needs. 

Corporation Bank Personal Loan Status

You can check the status of your Corporation Bank Personal Loan by the following methods – 

  • You can also visit your loan branch and ask the banker for the same.
  • Log In to the Corporation Netbanking Portal, Click on loans from the top ribbon and click on Enquire to check the status of your loan.
  • Search for ‘personal loan status’ on Google, open the first link which will take you to the Loan Status Tracker webpage of Corporation Bank, and fill the required information to check the status of your loan.

FAQs About  Corporation Bank Personal Loan

What is Corporation Bank Personal Loan?

Personal loans with minimal documentation become hassle-free as no mortgage or security is required. Corporation provides personal loans to its pre-approved customers in just 10 seconds and within 4 hours for the new customers.

The interest rate is 9.99% per annum and the loan amount can be used by the borrower for any personal financial need ranging from higher studies or a vacation to using the amount for day to day expenses.

How does Corporation Bank Personal Loan work?

The first step would be to check your eligibility for the Corporation’s personal loan which can be done online. If you are a pre-approved Corporation customer you can avail the loan within seconds and for others, the loan disbursal on average takes 4 hours.

You can avail up to Rs. 75 Lakhs with the lowest interest rates depending on your eligibility criteria and credit history. Repayment of the loan can be done on an EMI basis or as agreed upon in the loan agreement.

What is the Personal Loan rate of interest in the Corporation Bank?

The personal loan rate of interest in the Corporation Bank is 9.99% per annum.

What is the procedure of Personal Loan in Corporation Bank?

The procedure to avail a personal loan with Corporation Bank is hassle-free. You can apply for a Corporation Bank personal loan by visiting the nearest branch with your documents, through a Corporation Bank ATM, or using Corporation Bank’s Loan Assist App. You can also contact and apply with Dialabank for easy processing and personalized assistance.

The basic steps include:

  1. Calculation of loan amount required as per your need
  2. Checking your loan eligibility online or by visiting the branch
  3. Approaching the bank via your preferred method (online or offline)
  4. Submitting the required documents with the banker,
  5. Disbursal of loan amount once your application and documents have been verified and approved.

How can I get Corporation Bank Personal Loan?

Getting a Personal Loan from Corporation Bank is a simple process as minimal documentation ensures a quick disbursement time. You just have to check your eligibility status and contact the bank either online or by visiting the nearest branch.

After submission and verification of the required documents, the loan amount will be credited to your bank account within 4 hours.

How to apply for Personal Loan in Corporation Bank?

A personal loan is a security free loaning option to meet all your financial needs. You can apply for a personal loan with Corporation Bank with minimal documentation and get a quick loan amount disbursal by visiting the nearest branch with your documents or filling an application online at Corporation Bank’s official website.

You can also apply with Dialabank to avail of personalized assistance and get the best deals and offers.

Why apply for Corporation Bank personal loan?

Corporation Bank is one of the leading providers of personal loans in India, it offers the best loan options that come with a unique array of features and benefits.

They provide personal loans at low-interest rates with minimum documentation for an easy and hassle-free process. The average disbursal time for a new customer is 4 hours.

Repayment of the loan can be done through EMIs or via online payment options as preferred. Repayment tenure ranges between 1 to 5 years.

How much EMI on Corporation Bank Personal Loan?

EMI (Equated Monthly Installment) is the amount payable to the bank every month as repayment of your personal loan. The EMI on Corporation Bank personal loan depends on the loan amount, interest rate, and the tenure of the loan. It can easily be calculated using the EMI calculator on Dialabank’s website.

How much CIBIL score required for Corporation Bank’s personal loan?

Corporation Bank requires you to have a CIBIL score in excess of 750 with 700 being the absolute lower limit. You can increase your CIBIL score by making timely payments of your EMIs and credit cards.

Minimum credit score needed for Corporation Bank personal loan?

A credit score is a 3 digit number between the range of 300-900 which reflects the creditworthiness of the borrower. It is based on your past credit files and your performance in the repayment of your loans. Corporation Bank requires you to have a minimum credit score of 750 to become eligible for a personal loan.

How to calculate Corporation Bank personal loan EMI?

EMI on personal loan can be calculated using the formula, E = P x R x [(1+R)^N] / [(1+R)^N-1] where,

P= Principal or your loan amount, 

R= Rate of interest, and 

N= Loan Tenure. 

You can easily calculate your EMI online at Dialabank’s website for free and compare offers from different banks and finance companies.

What can I use Corporation Bank personal loan for?

You can use your Corporation Bank personal loan for a number of reasons ranging from small bill payments and daily expenses to a medical emergency and bigger expenses such as debt consolidation, wedding, and etc. Fulfill all your monetary needs with a personal loan by applying online at Dialabank’s digital platform.

Can I prepay Corporation Bank personal loan?

When a borrower pays off their loan entirely or in part before the agreed due date, it is termed as prepayment or preclosure. Corporation Bank gives you the option to prepay your personal loan provided that you have at least paid 12 month’s EMIs. You will be charged with a preclosure fee of up to 4% of your outstanding loan amount depending on the number of EMIs left to pay.

How to prepay Corporation Bank personal loan?

Steps to prepay your Corporation Bank personal loan:

  • Collect the required documents (PAN, Id proof, and any other loan documents)
  • Visit your loan branch and ask for the balance and any pre-closure charges or penalties. 
  • You will be prompted to fill a form requesting the prepayment of the loan. 
  • Pay the prepayment amount (cash up to Rs.49000, Cheque, or DD) and take its acknowledgment. 
  • Your loan will be closed as soon as the bank receives the fund.

How to repay Corporation Bank personal loan?

You have the option of repaying your Corporation Bank personal loan either by a standing instruction on your bank account to pay the EMI, online payment through different modes, or through post-dated cheques given to the loan branch.

How to repay Corporation personal loans online?

You can pay your personal loan EMI online in just 5 steps:

  • Visit the payments page on Corporation Bank’s website.
  • Click on ‘PAY ONLINE’ and enter your ‘Loan No.’ and ‘Date of Birth’. 
  • Select your net banker from the drop-down menu and click on PAY. 
  • You will be securely redirected to the bank payment interface of your chosen net banking option. 
  • Complete the payment and you will receive an online transaction confirmation. You can also pay your Corporation Bank personal loan on Paytm.

What documents are needed for Corporation Bank personal loan?

Corporation Bank provides easy hassle-free personal loans with minimal documents. You will need your Aadhar card/Voter ID, PAN card, Bank statement of the last 3 months, and the latest salary slips/ITR file.

For more information and personalized assistance, you can contact Dialabank’s financial helpline number.

How to check Corporation Bank personal loan status? 

You have a number of options to check the status of your Corporation Bank personal loan: 

  • Log In to the Corporation Bank Netbanking Portal, Click on loans from the top ribbon and click on Enquire to check the status of your loan.
  • Search for ‘personal loan status’ on Google, open the first link which will take you to the Loan Status Tracker webpage of Corporation Bank, and fill the required information to check the status of your loan.
  • You can also visit your loan branch and ask the banker for the same.

How to get Corporation Bank personal loan top up?

Top up is the additional loan amount that can be taken from the existing bank of your running loan or at the time of balance transfer from your new bank. Corporation Bank lets you avail of this facility if you have paid at least 9 EMIs without any cheque bounces. You can get a top-up of a minimum ₹50,000 and a maximum of your already sanctioned loan amount.

You can check the online portal of Corporation Bank for more offers or contact Dialabank for any financial help.

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