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Syndicate Bank Personal Loan can be availed by people who are between the age limits 21-65 years, but the senior scheme is for 65 years and above. You can get overdraft facilities too. Enjoy less paperwork and low interest rates. Apply Now!
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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.
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.
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.
Important documents to be submitted while applying for personal loans with Syndicate Bank
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
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
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.
Overdraw in Pensioner’s Savings Bank account by way of debit balance up to maximum of one-month last drawn pension.
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.
MCLR+3.75% pa, Monthly compounding
Cut – Back:
50% of income from verifiable sources annual income.
SYND Saral Scheme
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.
Quantum of loan
Third party acceptable to the Sanctioning Authority
1. What are my loan limits?
Your personal loan limit would be determined by your income and repayment capacity. YES Bank offers two types of personal loans. They are Personal loan and Quick Loan.
2. Can my spouse income be included for calculating the loan amount?
Yes, your spouse's income can be included provided he/she guarantees the loan or the loan is taken jointly.
3. Do I have to pledge some form of security?
In some cases, security is required.
4. What is the repayment schedule like?
The minimum amount that you are expected to pay every month is the EMI. You are allowed to pay more than the EMI if you wish to, and we do not charge any prepayment penalty.
5. What is EMI?
EMI stands for Equated Monthly Instalments. This instalment comprises both principal and interest components. Use the EMI calculator to find out your monthly payments based on the loan amount, the rate of interest and the repayment period. Choose the combination that best meets your financial resources and requirements.
6. What is the processing fee? Are there any other charges?
There is no processing fee for Personal loan.
7. Do I have the option of choosing a fixed or floating rate for the loan?
You have the option to avail the loan with either a fixed interest rate or a floating one. In the case of a fixed rate loan, the interest rate on the loan will remain fixed through the entire tenure of the loan, whereas in the case of a floating rate loan, the interest rate could decline or rise in line with the changes in the Bank's Medium-Term Lending Rate (SBMTLR).
8. How does Syndicate Bank Personal loan compare with those offered by other banks?
There is total transparency with regard to the rate of interest and the fees charged by us.
Syndicate Bank offers personal loans at the cheapest rates of interest, with no security or collateral
Syndicate Bank offer loans for the longest tenors (60 months), with the flexibility provided to reduce the tenor by prepaying the loan without any penalty.
The Bank provides finance for any personal need or requirement; the total amount being determined on the basis of repaying capacity.
With an Syndicate Bank personal loan, you can choose between fixed rates of interest and floating interest rates.
9. How can I apply for the Syndicate Bank personal loan?
You can either apply online or visit the nearest Syndicate Bank loan centre for a personal loan.
10. Will there be any charges for prepayment towards my Syndicate Bank personal loan?
There are no pre-payment charges levied towards the personal loan.
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.
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