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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
13.45%
1.50%
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.


Purpose:


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:


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


Security:


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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