Corporation Bank Personal Loan Features
|Corporation Bank Personal Loan Eligibility Criteria||Details|
|Corporation Bank Personal Loan Interest Rate||9.75% p.a.|
|Corporation Bank Personal Loan Lowest EMI per lakh||Rs 2112|
|Corporation Bank Personal Loan Tenure||12 to 60 months|
|Corporation Bank Personal Loan Processing Fee||1% to 2% of Loan Amount|
|Corporation Bank Personal Loan Prepayment Charges||Allowed after 12 Months (2 – 4 %)|
|Corporation Bank Personal Loan Part Payment Charges||Allowed after 12 Months (2 – 4 %)|
|Corporation Bank Personal Loan Min Loan Amt||₹ 50,000|
|Corporation Bank Personal Loan Max Loan Amt||₹ 75 Lakh|
About Corporation Bank Personal Loan
Corporation Bank is among public-sector banking company headquartered in Mangalore, India. Presently, the bank has a network of 3,040 ATMs, 4,724 branchless banking units and 2,600 fully automated CBS branches, across the country. The bank has a pan-Indian presence. To make your dreams come true avail the Corporation Bank personal loan now. Avail the Best Corporation Bank Personal Loan on Lowest Interest Rates.
What is Corporation Bank Personal Loan ?
Corporation Bank Personal Loan is an unsecured loan, in which a person doesn’t have to pledge any of his belonging to the banker. There is not much hustle as people have an assumption regarding the personal loan, only your capability of paying back the loan is considered as well as your intentions of paying it back. Banker sees the applicant’s salary, job location, and credit score, and if they found it good enough, the loan is sanctioned.
Why Corporation Bank Personal Loan ?
- First of all, the documentation criteria in the personal loan are straightforward
- In the second place, an applicant applying for a personal loan can know his/her ability in just 1 minute, across all branches.
- In addition, the interest rates for personal loans are highly competitive.
- Besides, the interest rates are affordable and flexible
- As well as, the processing fee is very low, and there are no hidden charges.
- Furthermore, the loan amount gets disbursed within two days.
- Moreover, there are special interest rates for women.
Simple and easy documentation for Corporation Bank Personal Loan (though documentation varies from individual to individual). The document requirement is based on your profession, income and loan requirement.
- Identity proof: As a verification document, one should especially require one among the following: (Passport/Id card/voter card/driving license/Aadhar Card) any one of them.
- Residence proof: The documents required as proof of residence are: (Passport/ Id card/ Voter card/ Driving license/ Ration Card/Aadhar Card). And the applicant living in a rented apartment, then he has to submit his rental agreement, electricity bill on his name and the address of the owner.
- KYC formality: The applicant has to provide his PAN card which is an important document
- Salaried applicant: One has to submit his bank statements of the last six months and the salary slip of the last three months.
- Self-employed Applicant: The person applying for a personal loan should file ITR for the last three years, and the business should be registered.
- And if the applicant is self-employed, then they have to submit the ITR of the last three years and his business should be registered.
- Two colored passport size photos. (Applicant should not be wearing glasses)
Eligibility for Personal Loan
Not everyone can apply for personal loan, an applicant have to follow some eligibility criteria based on which bank approves the applicant’s request. There are two categories of applicants:
There are various eligibility criteria for both applicants.
- The minimum required age of an applicant must be between 21 years to 60 years.
- A metropolitan city borrower should have a minimum income of Rs 18,000. And for non-metropolitan city, the minimum salary should be Rs 12,000.
- The work experience of the borrower should be of three years, and the salary should be received in their account only.
- A person applying for the personal loan should have a good credit history.
- The required age of a self-employed person should be of 25 years.
- The person should file ITR for the last three years, applying for a personal loan.
- An applicant must have a good credit score must, and there should not be any debt left due.
- The minimum amount should be of Rs 2.5 lakhs per annum at least.
- The business should be running for at least from last three years, if the applicant own a business.
There are multiple portals from where you can get better options of Personal Loan but LoanNow.in offers you a complete and easy guideline. LoanNow.in is an unbiased comparison platform for banking related products. Alongside influencing your procedure to free from documentation bothers, we also offer satisfactory assistance regarding banking. We understand the value of your needs and likewise recommend plans. We endeavor to make your money related arranging as simple and fair as possible.
* Interest rate can vary as per individual’s portfolio.
* All loans repayment period are over 6 months. No short term loans.
* We don’t charge the individual for the process.
* Credit at sole discretion of the Banks we have a tie-up with.