Syndicate Bank Personal Loan

Syndicate Bank

Syndicate Bank is one of the oldest and major commercial banks of India. At the time of its establishment, the bank was known as Canara Industrial and Banking Syndicate Limited. The bank, along with 13 major commercial banks of India, was nationalized on 19 July 1969, by the Government of India. The Bank is headquartered in the university town of Manipal, India.

What is a personal loan?

A personal loan is an unsecured (i.e. without collateral), multi-purpose loan usually taken to cover short-term money requirements. Personal loans usually have a speedy approval process hence making it one of the most popular loans in the market.

An Introduction to Syndicate Bank Personal Loans

Being one of the largest bank in India, Syndicate Bank offers a wide range of services in the personal loan segment. It is the most preferred bank by all kinds of people for any financial service. For any immediate financial requirement like wedding, medical treatments, house repair, pleasure vacation etc. can be fulfilled using the personal loans offered by Syndicate Bank.

Advantages of Syndicate Bank

• Low interest rate
• No hidden costs and administrative charges
• Less paperwork
• Long tenure
• Minimum Income Requirement
• Pensioners get attractive offers

Documentation Required for Syndicate Bank Personal Loans

Important documents to be submitted while applying for personal loans with Syndicate Bank

• Completed loan application
• 3 Passport size photographs
• Statement of Bank Account/ Pass Book for last six months
• Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill)
• Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
• IT returns for the three years for self-employed professionals
• Form 16/IT returns for the last two financial years for salaried employees

Key Highlights

Syndicate Bank Personal Loans

Catering to the needs of various sections of people, tailor-made Syndicate Bank personal loans is the best option to fulfil your short-term needs. You can choose the best personal loan based on your requirement.

SYND Senior Scheme

Purpose

Funds readily available to you whenever you desire or require, be it a sudden vacation that you plan with your family or emergency funds required for medical treatment, education fees payment, down payment of new home etc.

Nature of Facility

1. Demand Loan

2. Overdraft facility

Eligibility

Pensioners in receipt of regular monthly pension from Central / State Governments / Public Sector Units / Defense Establishments and other government or quasi government institutions whose pensions are being routed through accounts held with our Bank.

Demand Loan

Overdraft facility

Overdraw in Pensioner’s Savings Bank account by way of debit balance up to maximum of one-month last drawn pension.

Repayment

1. Demand Loan- In EMIs not exceeding 72 months

2. Overdraft - Principal to be repaid within Two months from the date of availing the facility and interest to be serviced monthly.

Interest

MCLR+3.75% pa, Monthly compounding

Security: Clean

Cut – Back:

50% of income from verifiable sources annual income.

Processing Fee:

As Applicable

SYND Saral Scheme

Purpose

Funds readily available for pensioners whenever they desire or require, be it a sudden vacation plan with your family or emergency funds required for medical treatment or down payment of new home etc.

Target group

Quantum of loan

Surety:

Third party acceptable to the Sanctioning Authority

Interest

Service Charges:

As applicable

Syndicate Bank Personal Loans Overview

Syndicate Bank provides attractive interest rates on personal loans when compared to other lenders. Low interest rate with no hidden charges makes Syndicate Bank personal loans a prospective and viable option for borrowing for your urgent financial requirements. With long tenure and part-prepayment, Syndicate Bank personal loans do not impose much burden on the customers.

Syndicate Bank Personal Loan FAQs