Indian Bank Salaried Employee Personal loan

Indian Bank's Salaried Employee Personal Loan extends its financial solutions to all salaried individuals. With competitive interest rates, flexible repayment terms, and a hassle-free application process, this loan caters to the financial needs of any salaried individual with a regular income. Offering swift processing and transparent fee structures, it is a reliable source of financial support for those seeking to meet personal expenses efficiently.

Get in Touch for Personal Loan Expert Advice
Connect with our Personal Loan Advisor Now!
  • Personalized Personal Loan solutions
  • Expert guidance
  • Application assistance
  • Credit score discussion
  • Personal Loan Interest rate comparison
+91
Choose City

Written By
Hepson Franklin
Hepson Franklin
Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.
Reviewed By
Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Indian Bank Salaried Employee Personal Loan

The following outlines the key highlights and features of the Indian Bank Salaried Employee Personal Loan.

Interest Rate Starting from 8.50% per annum
Maximum Loan Amount Up to 20 times the monthly gross salary
Maximum Loan Tenure 7 Years

Compare Indian Bank Salaried Employee Personal Loan with Other Banks

Below is a table comparing the personal loan options for salaried employees provided by Indian Bank with those offered by other banks.

Lender Interest Rate  Loan Amount Loan Tenure
IndusInd Bank 10.49 p.a. onwards Up to Rs 50 lakh 6 years
Bank Of Baroda 12.15% p.a. onwards Up to Rs 20 lakh 7 years
IDBI Bank 9.50% p.a. onwards Up to Rs 5 lakh 6 years
Yes Bank  10.99% p.a. onwards Up to Rs. 40 lakh 5 years
Tata Capital 10.99% p.a. onwards Up to Rs 35 lakh 6 years

Indian Bank Salaried Employee Personal Loan – Fees and Charges 

The following table details the fees and charges applicable to the Indian Bank Salaried Employee Personal Loan.

Fee/Charge Amount
Processing Fee 1.00% on the Loan amount

Indian Bank Salaried Employee Personal Loan – Documents Required 

To initiate the Indian Bank Salaried Employee Personal Loan application process, one needs to provide various documents as per the bank’s requirements:

  • Proof of Income
  • Proof of Employment
  • Address Proof
  • Identity Proof
  • Bank Statements: Bank statements for the last few months showing salary credits, Account statements for any existing loans or liabilities

Indian Bank Salaried Employee Personal Loan – Eligibility Criteria

To avail of the Indian Bank Salaried Employee Personal Loan, one should meet the following eligibility criteria

  • The Indian Bank Lakh Personal Loan is available for salaried employees.
  • Eligibility criteria typically include a minimum service/experience requirement of 2 years and a minimum age requirement of 21 years.
  • Providing accurate proof of income, employment, and KYC documents is essential for loan approval.

Indian Bank's Other Products

Personal Loan By Banks

Urban Money