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Corporation Bank Personal Loan Details With Interest Rate

Kindly Check Complete Details For Corporation Bank Personal Loan.

Corporation Bank
Personal Loan
10K - 3.5Lac
upto 60 mnths
Full Details for Corporation Bank Personal Loan

Corporation bank is a public sector banking Services Company established in Mangalore, India. Corporation bank came in to banking sector as Canara bank by innovating efforts of group of people. It has a broader network of 2200 branches and 1800 + ATMs across India.

Its motto is prosperity for all professed by it in its day to day operations.


Corporation bank offers personal loans to salaried people to meet their genuine personal expenses.

Eligibility for Personal loan in corporation bank:

Permanent employees of central Government, state government offices, Profit making public sector undertakings, Public limited companies, Schools and Colleges.

Employees whose salary is routed through the corporation bank

Pensioners drawing pension through the corporation bank

Other than salaried class having regular dealings with the branch

Loan Amount:

Minimum loan amount: .10 lakh

Maximum loan amount: 2.50 lakh

Salaried people:

Employee salary gets credited in to its branch, then loan up to 9 months NET salary


Pensioners withdraw the salary through the branch Loan up to 10 months NET salary

If employees those who have income other than salary/pension: Loan up to 25% of the gross annual income.

Margin: Nil


Suitable co-applicant, third party to be given as security by the loan applicant

Rate of interest:

For salary and pensioner account holders: 13.55%

For others personal loan interest rate: 14.55%

Floating rate of interest is linked to the base rate and subject to vary from time to time.

Processing Fee charges:

1.50% of the loan amount, subject to a minimum of Rs.500/-

Prepayment charges is Nil

Repayment options:

For salaried people: 36 months

For other than salaried class 60 months

Nature of facility:

Demand loan

Documents needed for Corporation bank personal loan

Loan application form and passport size photographs

Id Proof:

Passport, voter id, driving license

Address Proof:

Passbook, driving license, Voter s ID card

Last three months bank statements

Current date salary certificate with latest form 16

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