Corporation Bank Personal Loan Key Features Sep 25 2022
|Age Criteria||18 – 60 (at loan maturity)|
|CIBIL Score||Minimum 700|
|Corporation Bank Personal Loan Interest Rate||8.90% p.a.|
|Lowest EMI per lakh||Rs 2071|
|Tenure||12 to 60 months|
|Corporation Bank Personal Loan Processing Fee||0.50% of Loan Amount|
|Minimum Loan Amount||No limit|
|Maximum Loan Amount||₹ 15 Lakh|
Corporation Bank Personal Loan Interest Rates and Charges
|Interest Rate||8.90% per Annum|
|Processing Charges||0.50% of Loan Amount|
|Prepayment Charges||No charges after the first 12 EMIs|
|Stamp Duty||As per state laws|
|Cheque Bounce Charges||As per bank terms|
|Floating Rate of Interest||Not Applicable|
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 in the required information to check the status of your loan.
- You can also contact them on 1800 425 3555 to check your personal loan status. You can also directly visit their nearest branch and meet the officer in charge.
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 20000/month|
Corporation Bank Personal Loan Interest Rate, Fees & Other Charges
|Interest Rate||8.90% per annum|
|Prepayment||No prepayment is allowed until 12 EMIs are paid|
|Preclosure||No foreclosure is allowed until 12 EMIs are paid|
|Stamp Duty||As per state laws|
|Cheque Bounce Chgs||₹ 550/cheque + 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
|Form||Duly filled application form|
|Proof of Identity||Copy of:|
|> Driving License|
|> Aadhar Card|
|> Voter ID Card|
|Proof of Address||Rent Agreement (Min. 1 year of stay)|
|Passport (Proof of permanent residence)|
|Proof of Income||> ITR: 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 the case of rented apartments, the 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
Corporation Bank Personal Loan Comparison with Other Banks
|Bank||Interest Rate||Tenure||Loan Amount & Proc Fee|
|Corporation Bank||8.90%||12 to 60 months||Up to Rs. 40 lakh / 1% to 2%|
|Bajaj Finserv||Starting from 13.75%||12 to 60 months||Up to Rs. 25 lakh / Up to 3.99% of the loan amount|
|Axis Bank||7.35% to 24%||12 to 60 months||Rs. 50,000 to Rs. 15 lakh / Up to 2% of the loan amount|
|Citibank||Starting from 10.50%||12 to 60 months||Up to Rs. 30 lakh / Up to 3% of the loan amount|
|Corporation Bank||10.50% to 19.25%||12 to 60 months||Up to Rs. 20 lakh / Up to 2.25% of the loan amount|
Other Loan Products from Corporation Bank
|Corporation Bank Gold Loan|
|Corporation Bank Business Loan|
|Corporation Bank Car Loan|
|Corporation Bank Two Wheeler Loan|
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 of a 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 –
- Amount of the Loan
- Rate of Interest
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 1-2 weeks 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 48 hours to its pre-approved, already existing account holders, who have good relationships with the bank.
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:
|13 to 24 months||4%|
|25 to 36 months||5%|
|more than 36 months||2%|
Documents required for Corporation Bank Personal Loan Pre-closure
Generally, the following documents are required to foreclose your Corporation Bank personal loan:
- A valid photo identity proof
- Loan Account Statement
- Cheque/ demand draft/ cash to make the payment
Corporation Bank Foreclosure Benefits
Given below are a few key benefits of foreclosing your Corporation Bank personal loan:
Foreclosure / Full Prepayment
- Helps you save on the overall interest payout.
- Frees you from the burden of regular loan repayments.
- It enables you to save on the interest component.
- You also have the advantage of either paying a reduced EMI amount or having a shorter loan tenure.
Corporation Bank Prepayment Facility
Corporation bank also offers the prepayment facility to help the customers pay off the entire outstanding or a part of it. If you have a surplus amount of money in hand and meeting the below criteria then you can pay a part of your principal outstanding amount to reduce the same. This will also help in saving interest accrued on the principal amount. Know more about this facility below.
- Prepayment will be allowed subject to the successful payment of the first 12 EMIs.
- Prepayment will be allowed a maximum of twice during the entire tenure of the loan.
- Prepayment is allowed only once a year.
- At any point in time, the prepayment will not exceed 25% of Principal Outstanding.
Charges to be paid on Prepayment
- 13-24 Months – 4% of the outstanding loan balance.
- 25-36 Months – 3% of the outstanding loan balance.
- More than 36 Months – 2% of the outstanding loan balance.
Pre Calculated EMI for Corporation Bank Personal Loan
|Loan principal @ interest||Tenure|
|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|
|5lakh @ 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|
Corporation Bank Personal Loan for Salaried Employees
Corporation Bank offers Personal Loan for Salaried Employees at attractive rates of interest. The amount that you get a loan depends on the Company that you work for, the take-home salary of the employee, and the city of residence of the employee. Corporation Bank 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’s Personal Loan for Self Employees is a loan product offered to self-employed individuals 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 Salaried 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.
Corporation Bank Personal Loan for TCS Employees
- Exclusive personal loans with a reasonable interest rate of 11.25% p.a.
- EMI for personal loans starts at Rs.2178 per lakh when terms and conditions are met.
- The hassle-free documentation process for TCS employees.
- Pre-approved personal loans for eligible TCS employees.
- Interest rate starting at 11.99% p.a for superbike loans.
- Great offers on home loans with an interest rate of 9.45% p.a and discount interest rate for women at Rs.9.40% p.a.
Corporation Bank Moratorium Process
The process to stop your loan EMIs at Corporation Bank is as follows-
- Visit the Corporation Bank website.
- Click on the link where the option of moratorium period is popping up.
- On the application page, mention your registered mobile number, name, email ID.
- After that enter your DOB and select the type of loan.
- Enter your loan number and mention your EMI amount.
- Then make a decision and choose a suitable service.
- Click on the EMI deferment option that says I agree to pay the accrued interest on the outstanding balance.
- Click on the ‘Submit’ button.
- The bank will check the details thoroughly and process your moratorium request.
- You’ll be given a reference upon the successful completion of the process on your registered mobile number and email address
However, if you don’t want to defer EMI, you must click on the second option after the deferment option. This will ensure EMI payments are as scheduled with no extra interest charged on them.
Corporation Bank Personal Loan Special Pricing
If a customer is looking for INR 15 lakh of the loan amount or more than that below rates would be applicable.
|Loan Amount||IRR||Processing Fee (+GST)|
|Loan amount >=15 lakh*||10.50%||INR 3999|
*Terms & conditions apply
This offer is not applicable for Top-up/Enhancement/Existing loan amount closure.
If a customer is looking for a Balance transfer and a fresh loan of above INR 10 lakh above, the below offer is available.
|NTH||Loan Amount||IRR||Processing Fee (+GST)|
|>=50000||Loan amount >=10 lakh*||10.50%||INR 3999|
*Terms & conditions apply
- Not applicable on Existing loan closure
- Not applicable for Credit card BT
How to Manage Corporation Bank Personal Loan
Here are the 4 tips that will help you manage your loans:
1. Pay On-Time – The first step is to avoid late fees and penalties. The best way to do that is by paying your monthly payments on time every month. This also hits the credit score. These are needless and all too common consequences that will work against your financial condition. If you have just taken a personal loan or are about to, the best way to manage your loan is by making a monthly payment on your loan as soon as you receive the loan. By being a payment ahead of your instalment plan you will have a buffer against a missed payment.
2. Pay More Than Your Minimum – Paying beforehand is a good option for managing your plans but paying a little extra every month keeps you ahead of your loan term and provides you with some other financial bonuses. Moreover, paying extra on your loan reduces the length of the repayment plan.
This will help you clear the debt and allows you to regain your financial independence sooner. It will also reduce the rate of interest you owe and thus, saving you money in the long run. Paying off your debts faster also leads to an improvement in your credit score. A lower credit score will benefit you in several ways, like dropping down payments and rate of interest.
3. Consolidate Your Loans – For debtors managing multiple personal loans, consolidation could be the best way to simplify your debt repayment. Debt Consolidation is when you take a large loan to repay all the other loans you have taken. So, instead of paying multiple lenders every month with different rates of interest and needs, one can make a single payment to one provider.
Debt Consolidation is helpful if you can save an interest rate on a new loan that is lower than the average interest rate of the earlier loans. The only disadvantage that lies here is that one will likely end up having to reimburse the debt quicker than before. Before consolidating your debt, make sure that you can make the payments on a new loan. This may also help to reimburse large portions of your loans on credit rather than with a single loan, consolidating it into more controllable pieces.
4. Credit Score – Last but not least, always keep a close watch on your credit score while reimbursing a personal loan. The credit score plays a major role in finances and has an important relationship with the loans taken out. How you manage your loans is reflected in your credit score. On the other hand, falling behind on your payments will subordinate the credit score. Thus, a higher credit score is important.
Different Offers for Corporation Bank Personal Loan
Corporation Bank has a vast range of Personal loan offers to start from Personal loans for Salaried Individuals and Personal loans to Self Employed Individuals ranging from Personal Loans for Doctors, Marriage Personal loans, Personal loans for Pensioners, etc. All of these are given below along with the details and features.
Corporation Bank Doctor Loan
Corporation Bank offers special Personal Loans to Doctors who require 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 of this loan –
- The credit score should be at least 650.
- Age should be 25-65 years.
- 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 a shortage of 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 lowest Personal Loan Interest Rate 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 the Corporation Bank Personal Loan for Government Employees.
Corporation Personal Loan Offers for Government Employees
|Offers By Government||Number of Companies||Processing Fee(% of the Loan Amount||IRR|
|Miniratna, Navratna, and Maharasthra||55||1.50%||13.49%|
|Employees from the Railway Department||All||1.50%||16.50%|
|CISF, CRPF, ITBP, SSB, and BSF||All||1.50%||14.75%|
State and Central Government Officers:
|Government Officer Division A (GA) and Division B (GB)||NTH>24k||2%||16.75%|
Corporation Bank Personal Loan for Pensioners
Corporation Bank offers special plans for Pensioners looking out for Personal loans. 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 –
- Lower Interest Rate
- Extended Tenure for the Repayment
- 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 of ₹ 50,000 and a maximum of your already sanctioned loan amount.
Corporation Bank Personal Loan Overdraft Scheme
Corporation Bank Personal Loan Offers an Overdraft Scheme. With this, you are provided with a loan amount as an overdraft facility. It works like a Credit Card, where you can spend your Personal Loan Amount as you want anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the Corporation Bank Personal Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.
Types of Corporation Bank Personal Loan
Corporation Bank offers home redesign credit for people who wish to get their homes revamped. This individual credit can support necessary fixes or help the candidate get new fittings, installations, and furniture for their home. Some vital highlights of Corporation Bank Home Renovation Loan are:
- The financing cost for Corporation Bank’s Home Renovation Loan begins at as low as 11.25%.
- People might be qualified for an advance sum up to Rs. 20 Lakh to get their home remodelled.
- Home remodel credit from Corporation Bank requires negligible documentation, making the whole advance cycle bother free.
- The advance sum ordinarily gets credited into the record within 72 hours once the bank favours your application.
Corporation Bank Holiday Loan
Corporation Bank’s Holiday Loan can assist you in organizing your fantasy get-away with a minor issue. This individual advance from Corporation Bank can subsidize a scope of excursion related costs, including flight ticket booking, lodging facilities, guided visits, and so forth Key highlights of Corporation Bank’s Holiday Loan are:
- Financing costs for Holiday Loans start at 11.25% p.a.
- You can do without much of a stretch profit a measure of up to Rs 20 Lakh, so your fantasy excursion won’t be spoilt because of a monetary crunch.
- Streamlined and Minimal documentation guarantees that financing your get-away is basic and straightforward.
- Brisk preparing and disbursal of advance which is attributed straightforwardly to your record
Corporation Bank Fresher Funding
A dominant part of unstable individual credits is focused on people with customary pay anyway Corporation Bank’s Fresher Funding is extraordinary. This credit alternative from Corporation Bank is intended to help freshers, for example, ongoing alumni looking for their first work. Some vital highlights of Corporation Bank Fresher Funding individual credit are as per the following:
- Credit sum up to Rs 1.5 lakh
- The candidate must be at any rate 21 years of age.
- The pace of interest for Fresher Funding relies upon the profile of the advanced candidate, the financial record/score, age, and area of the candidate.
Corporation Bank NRI Personal Loan
Understanding the necessities and dreams of NRIs, Corporation Bank offers an individual advance explicitly for NRIs. The essential advanced candidate should be an Indian inhabitant, and the co-candidate NRI must be a nearby family member. Individual Loan for NRIs incorporates the accompanying highlights.
- Corporation Bank offers NRIs individual advances up to Rs. 10 lakh with adaptable end-use
- The financing costs for NRI Personal Loan start at 15.49% p.a.
- The credit includes a residency of as long as three years.
Corporation Personal Loan Preclosure Online
Corporation Bank enables a Personal loan borrower to make a pre-closure or a pre-payment of a loan. However, you will be able to prepay your Corporation Personal Loan only after 12 months after you have procured your loan and after paying 12 EMIs plus the foreclosure charges that may be applicable. If you meet this requirement, you can repay your personal loan before the original due date and close your loan early.
Corporation Bank Personal Loan Process Steps
Step 1: Determine your requirement
Figure out why you need a Personal Loan and how much you need. For example, you may need a loan to fund your wedding or to renovate your home. And you may need just Rs. 1 lac or Rs. 10 lac.
Step 2: Check loan eligibility
Once you know how much you need, you should check whether you are eligible. You can visit the Corporation Bank Personal Loan Eligibility Criteria online, to find out how much you can borrow as a Personal Loan. Corporation Bank offers loans up to Rs. 40 lac.
Step 3: Calculate monthly instalments
Use an online EMI tool to calculate your approximate loan repayments every month. You can modify the interest rate and tenure to match your monthly income, like on the Corporation Bank Personal Loan EMI Calculator. Corporation Bank offers pocket-friendly EMIs on all its Personal Loans starting at Rs. 2149 per lac *(T&C).
Step 4: Approach the bank
You can apply for a Personal Loan with Corporation Bank in various ways: Via Net Banking, online on the Corporation Bank website, at an ATM, or by visiting the nearest branch.
Step 5: Submit documents
Next, find out what documents are required for a Personal Loan. You will usually need income proof (bank statements, salary slips or IT returns), address proof, and ID proof. Hand over copies of your Personal Loan documents at the bank.
Wait for funds to be remitted to your account. Corporation Bank disburses funds for pre-approved loans to customers in 10 seconds*, and for non-Corporation Bank customers in 4 hours.
That’s how to get a Personal Loan in 5 easy steps!
Corporation Bank Personal Loan Prepayment Charges
If you are a salaried applicant, you can pre-pay your Corporation Personal Loan only after paying 12 equated monthly instalments completely.
The pre-payment charges for salaried applicants are as follows:
- 4% of the outstanding principal amount for 13 to 24 months.
- 5% of the outstanding principal amount for 25 to 36 months.
- 2% of the outstanding principal amount for more than 36 months.
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 a 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.
The Personal Loan Verification Process
Coming up next are essential strides of the individual credit check measure after online accommodation of your advance application on Dialabank.
Step1. Dialabank will advance your advance application to your picked bank and generally within 48 hours, and you will get a call from the moneylender’s agent.
Step2. The imminent loan specialist will plan a pickup of your KYC, pay, and so forth reports or give a choice to transfer them on the web. These reports will be utilized to confirm your application.
Step3. When the moneylender’s check is finished, and your advance is endorsed, you will get another call to confirm the credit offer and request your permission for disbursal.
Step4. After credit endorsement and fruitful check, the advance is generally dispensed within 48 hours.
Note: The above-mentioned turnaround time for personal loan verification/disbursal may vary based on the lender’s internal demands as well as other criteria.
Check your bank Corporation Bank Personal Loan Application Status
To check the status of your Corporation Bank Personal Loan, you can:
- Visit the bank branch personally where you had applied for the loan and give the loan officer your loan application details
- Visit the website of Corporation Bank and fill in your loan details.
- Send your loan details to the bank via email.
- Through the I-mobile app of the bank
- These methods enable you to track your loan status easily.
How to login into the Corporation Bank Portal
- Visit the official website of Corporation Bank.
- On the top right corner of the page click on ‘Login’.
- Log in using your User ID and Password or your recorded mobile number
How to Check Your Loan Statement
Clients can download the bank’s very own credit proclamation by following the means given beneath:
- Visit the official site of the bank.
- Click on ‘Connect’ and select ‘Administration Requests’ starting from the drop list.
- On the following page that opens, under the ‘Advances’ menu, select ‘Individual Loan Related’.
- Next, click on ‘Solicitation for Statement of Loan Account’.
- Login utilizing your User ID and the secret word or utilizing your enlisted versatile number and OTP to benefit the bank’s very own credit explanation.
Corporation Bank Personal Loan Restructuring (COVID-19)
The cross country lockdown because of the COVID-19 pandemic has affected numerous borrowers antagonistically and to moderate its effect to a specific degree, a multi-month ban on different term advances was declared. After the fruition of the half-year ban, Corporation Bank had reported the RBI-commanded one-time advantage of Corporation Bank’s individual credit rebuilding.
This instrument is intended to give proceeded with alleviation to those borrowers who are as yet unfit to begin reimbursement of their normal EMI due to ongoing money related difficulty coming about because of the pandemic.
The credit goal system presented by Corporation Bank offers an extra ban of as long as two years or an augmentation on the current reimbursement time frame to diminish the month to month EMI installments. It is imperative to shoulder as a main priority that rebuilding your Corporation Bank individual credit will bring about extra premium charges well beyond those of the first advance.
Consequently, this alleviation instrument should just be utilized if all else fails with the goal that you don’t wind up defaulting on your great credit.
Corporation Bank Customer Care
Customers can contact the Corporation Bank customer care via any of the following means:
- By Phone: You can call Corporation Bank on 1800 425 3555 (toll-free)
- Callback Request: You can also request a call back by visiting the bank’s website.
- Branch Visit: You can visit the nearby Corporation Bank branch to get your queries.
Benefits of Applying for Personal Loan on Dialabank
There are different points of interest in applying for a personal advance on the Dialabank site. Some of them are given beneath:
- 24 x 7 Accessibility: You can get to the Dialabank site whenever and anyplace and in this manner, apply for an individual advance whenever from the solace of your home or office.
- Different moneylenders on a solitary stage: Dialabank empowers you to get to individual credit offers from various planned loan specialists on a solitary stage and accordingly kills the need to visit numerous bank sites or branches.
- Know EMI in a split second: With the individual advance EMI calculator, you can check the EMIs you would be paying on an individual credit even before you apply for one. It will assist you with acquiring the suitable sum that you can without much of a stretch reimburse and have a helpful reimbursement plan.
- Liberated from cost: Additionally, you are not needed to pay any charges when you apply for an individual advance on Dialabank.
How to Get the Best Offer on Corporation Bank Personal Loan
You can get the best close to home financing costs from Corporation Bank subject to an evaluation of your credit sum, pay, other commitment organizations you work with, and advance residency. The accompanying elements decide the individual credit pace of interest you can hope to get from Corporation Bank:
- Credit Amount – This is the sum acquired by a borrower from the bank. By and large, banks offer lower financing costs for higher sums. Corporation Bank offers credits between ₹ 50,000 and ₹ 75 Lakh.
- Compensation – Income characterizes your ability to reimburse the credit. More significant compensation section people are offered credits at lower financing costs. The loan cost of the bank fluctuates with your net month to month pay.
- Manager Category – Corporation Bank has an inner rundown of organizations falling into classifications that are positioned from high to low organization classes dependent on the organization’s size, notoriety, and existing relationship with the bank. Representatives who have a place with organizations in higher organization classes get appealing limits and low financing cost advances.
- Relationship with the Bank – Corporation Bank offers extraordinary rates, offers, and charges to the current record holders of the bank. The individuals who have dealt with their records and made all the instalments on time in the past will get the advantage of a low Corporation Bank advance loan cost.
- Credit Tenure – Personal advances are of more limited residency that goes from 1 year to 5 years as they are taken to meet their quick prerequisites.
- Reimbursement Capacity – Before giving an advance to the borrower, Corporation Bank checks the reimbursement limit of the borrower. Bank confirms the reimbursement limit of the client through CIBIL as it has the reimbursement history of past credits taken. CIBIL additionally catches data of charge card charges instalment.
How does Corporation Bank Personal Loan work?
Here is the process:
|Maximum Annual Percentage Rate (APR)||11% to 22.5%|
|A representative example of the total cost of the loan, including all applicable fees||Here is an illustration of the total cost of the loan:|
|Total amount borrowed: ₹ 1,00,000|
|Time period: 12 Months to 60 Months|
|Corporation Bank Personal Loan Interest Rate: 10.50% to 22.00%|
|Processing Fee payable to Upto ₹ 2,500|
|Fee payable to MyLoanCare: NIL|
|Total Monthly Cost – From ₹ 2,149 for 60 Months ₹ 1,00,000 loan at 10.50% (lowest rate, longest time period) to ₹ 9,359 for 12 Months ₹ 1,00,000 loan at 22.00% (highest rate, shortest time period). This is inclusive of principal repayment.|
|Annual Percentage Rate (APR) of charge including all applicable fees: 11% to 22.5%|
|Total cost payable over loan tenure: ₹ 8,278 for 12 Months loan to ₹ 31,463 for 60 Months loan|
Given underneath are some significant angles that you should consider while applying for an individual credit with Corporation Bank:
- While applying for a personal advance, it is in every case great to check your financial assessment. A decent credit assessment builds the odds of endorsement of your credit and can empower you to benefit an individual advance on more great terms.
- Before settling upon a specific bank, it is prudent to think about the expense of an individual credit (premium expense and all the reasonable expenses and charges) offered by different moneylenders on Dialabank.com
- Acquire as per your need and reimbursement capacity. Try not to acquire just because you are qualified to get a higher sum. It will just add to your advantage cost and not have many advantages over the long haul.
- Try not to apply for individual advances with various moneylenders simultaneously. It shows you to be eager for credit and expands the number of challenging requests for your credit report, which may antagonistically influence your Credit rating.
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 of 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 8.90% per annum.
✅ What is the procedure of a Personal Loan in the Corporation Bank?
The procedure to avail of 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:
- Calculation of loan amount required as per your need
- Checking your loan eligibility online or by visiting the branch
- Approaching the bank via your preferred method (online or offline)
- Submitting the required documents with the banker,
- 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 a 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 is required for Corporation Bank’s personal loan?
Corporation Bank requires you to have a CIBIL score above 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 several reasons ranging from small bill payments and daily expenses to a medical emergency and bigger expenses such as debt consolidation, wedding, etc. Fulfil 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 acknowledgement.
- 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 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 several 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 in 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 of ₹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.
✅ What is the Corporation Bank Personal Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the Corporation Bank Personal loan account.
- Pay the pre-closure charges as per Corporation Bank Personal Loan.
✅ What are Corporation Bank Personal Loan preclosure charges?
Corporation Bank Personal Loan preclosure charges are Nil.
✅ What is the Corporation Bank Personal Loan overdraft scheme?
For simplifying the process and providing you with a hassle-free service while processing an overdraft scheme at Corporation Bank Personal Loan is provided, it gives you an online way to get your own overdraft, also known as Smartdraft – Overdraft Against Salary. You do not need to visit bank branches and go through a boring process. Just log in to the Corporation online banking portal and from there you can fill out a simple form and get an overdraft under your name.
✅ What is Corporation Bank Personal Loan maximum tenure?
Corporation Bank Personal loan maximum tenure is 60 months.
✅ What is Corporation Bank Personal Loan minimum tenure?
Corporation Bank Personal Loan minimum tenure is 12 months.
✅ What is the Corporation Bank Personal Loan customer care number?
The customers get in touch with the bank via call on 1800 425 3555.
Table of Contents
- 1 Corporation Bank Personal Loan Key Features Sep 25 2022
- 2 Corporation Bank Personal Loan Interest Rates and Charges
- 3 Corporation Bank Personal Loan Status
- 4 Corporation Bank Personal Loan Eligibility Criteria
- 5 Corporation Bank Personal Loan Interest Rate, Fees & Other Charges
- 6 Corporation Bank Personal Loan Documents Required
- 7 Personal Loan EMI Calculator for Corporation Bank
- 8 Corporation Bank Personal Loan Comparison with Other Banks
- 9 Other Loan Products from Corporation Bank
- 10 Why should you apply for Corporation Bank Personal Loan with Dialabank?
- 11 How to Calculate EMIs for Corporation Bank Personal Loan
- 12 Corporation Bank Personal Loan Processing Time
- 13 Corporation Bank Personal Loan Preclosure Charges
- 14 Documents required for Corporation Bank Personal Loan Pre-closure
- 15 Corporation Bank Foreclosure Benefits
- 16 Corporation Bank Prepayment Facility
- 17 Pre Calculated EMI for Corporation Bank Personal Loan
- 18 Corporation Bank Personal Loan for Salaried Employees
- 19 Corporation Bank Personal Loan for Self Employed Individuals
- 20 Corporation Bank Personal Loan for TCS Employees
- 21 Corporation Bank Moratorium Process
- 22 Corporation Bank Personal Loan Special Pricing
- 23 How to Manage Corporation Bank Personal Loan
- 24 Different Offers for Corporation Bank Personal Loan
- 24.1 Corporation Bank Doctor Loan
- 24.2 Corporation Bank Marriage Loan
- 24.3 Corporation Bank Personal Loan for Government Employees
- 24.4 Corporation Personal Loan Offers for Government Employees
- 24.5 State and Central Government Officers:
- 24.6 Corporation Bank Personal Loan for Pensioners
- 24.7 Corporation Bank Personal Loan Balance Transfer
- 25 Corporation Bank Personal Loan Top Up
- 26 Corporation Bank Personal Loan Overdraft Scheme
- 27 Types of Corporation Bank Personal Loan
- 28 Corporation Personal Loan Preclosure Online
- 29 Corporation Bank Personal Loan Process Steps
- 30 Corporation Bank Personal Loan Prepayment Charges
- 31 How to Apply Online for Corporation Bank Personal Loan?
- 32 The Personal Loan Verification Process
- 33 Check your bank Corporation Bank Personal Loan Application Status
- 34 How to login into the Corporation Bank Portal
- 35 How to Check Your Loan Statement
- 36 Corporation Bank Personal Loan Restructuring (COVID-19)
- 37 Corporation Bank Customer Care
- 38 Benefits of Applying for Personal Loan on Dialabank
- 39 How to Get the Best Offer on Corporation Bank Personal Loan
- 40 How does Corporation Bank Personal Loan work?
- 41 Important Aspects
- 42 FAQs About Corporation Bank Personal Loan
- 42.1 ✅ What is Corporation Bank Personal Loan?
- 42.2 ✅ How does Corporation Bank Personal Loan work?
- 42.3 ✅ What is the Personal Loan rate of interest in the Corporation Bank?
- 42.4 ✅ What is the procedure of a Personal Loan in the Corporation Bank?
- 42.5 ✅ How can I get Corporation Bank Personal Loan?
- 42.6 ✅ How to apply for a Personal Loan in Corporation Bank?
- 42.7 ✅ Why apply for Corporation Bank personal loan?
- 42.8 ✅ How much EMI on Corporation Bank Personal Loan?
- 42.9 ✅ How much CIBIL score is required for Corporation Bank’s personal loan?
- 42.10 ✅ Minimum credit score needed for Corporation Bank personal loan?
- 42.11 ✅ How to calculate Corporation Bank personal loan EMI?
- 42.12 ✅ What can I use Corporation Bank personal loan for?
- 42.13 ✅ Can I prepay Corporation Bank personal loan?
- 42.14 ✅ How to prepay Corporation Bank personal loan?
- 42.15 ✅ How to repay Corporation Bank personal loan?
- 42.16 ✅ How to repay Corporation personal loans online?
- 42.17 ✅ What documents are needed for Corporation Bank personal loan?
- 42.18 ✅ How to check Corporation Bank personal loan status?
- 42.19 ✅ How to get Corporation Bank personal loan top up?
- 42.20 ✅ What is the Corporation Bank Personal Loan closure procedure?
- 42.21 ✅ What are Corporation Bank Personal Loan preclosure charges?
- 42.22 ✅ What is the Corporation Bank Personal Loan overdraft scheme?
- 42.23 ✅ What is Corporation Bank Personal Loan maximum tenure?
- 42.24 ✅ What is Corporation Bank Personal Loan minimum tenure?
- 42.25 ✅ What is the Corporation Bank Personal Loan customer care number?