Eligibility For Personal Loan In Indian Bank

I have come to know Eligibility For Personal Loan in Indian Bank as I am thinking to apply for Indian Bank Personal Loan, so would you plz give me require info here ??

[KunwarR]

Indian Bank is an Indian state-owned financial services company established in 1907 and headquartered in Chennai, India.

As you asking I am telling Indian Bank offers personal loans solutions to cover wide array of both planned and unplanned expenses. Personal loans from Indian Bank is available to permanent salaried employees with minimum service/ experience of three years with Govt./Quasi -Govt./ Boards/ Endowments/ reputed companies/ Corporate Industrial Establishments etc.

Eligibility

Any resident individual employed with Govt./Quasi -Govt./ Boards/ Endowments/ reputed companies/ Corporate Industrial Establishments etc can give personal loan requests to the bank.

Minimum 3 years of work experience is a must requirement for personal loans from an Indian bank.

Post deduction of proposed EMI, the applicant should be able to take away minimum 40% on the monthly take home salary.

No history of any default in any previous credit relationship with any lender.

Documents requirement

Completed Application Form with 2 passport size photograph

Salary Certificate for self for 6 months IT returns/Form 16 for 3 years from the individual borrowers

Proof of Identity such as Aadhar Card / PAN Card / Voter’s ID/Passport/Driving License.

Proof of residence such as Recent Telephone Bill/ Electricity Bill/ Property Tax Receipt/ Passport/ Voter`s ID

Proof of Employment for salaried class

Salary slips for the last 6 months

Statement of account for the past 6 months

Post dated cheques to be obtained

Suitable third party guarantee is desirable

Interest rate
IB Clean Loan


Tenure


Rate of Interest (BR + Spread + TP)

Up to 36 months


BR + 5.00% + 0.25% = 14.90% Fixed

Above 36 months up to 60 months


BR + 5.00% + 0.50% = 15.15% Fixed

Above 60 months


BR + 5.00% + 0.75% = 15.40% Fixed


Pension Loan


Tenure


Rate of Interest (BR + Spread + TP)

Repayment of 12 months


BR+3.00% =12.65%

Repayment above 12 months up to 36 months


BR+3.50%+0.25%=13.40%

Repayment above 36 months up to 60 months


BR+3.50%+0.50%=13.65%