Indian Bank has decreased its personal loan interest rates by 0.10%, or 10 basis points with effect from Monday, February 12, 2018. This interest rate cut will reduce the cost of funds for those people who want to avail Indian Bank personal loans.
Indian Bank – Current Personal Loans Interest Rates
New Delhi (Delhi, India), February 24, 2018
Indian Bank Cuts Personal Loan Interest Rate to 9.55% Per Annum
The Indian Bank has decreased its personal loan interest rates by 0.10 percent, or 10 basis points with effect from Monday, February 12, 2018.
Indian Bank has revised its personal loan minimum interest rate from 9.65 percent to 9.55 percent per annum (MCLR-1Year + 1.30%) for Indian Bank personal loan applicants.
The personal loan interest rate of Indian Bank is benchmarked or linked to its One-Year MCLR (Marginal Cost of Funds based Lending Rate). Indian Bank’s current One-Year MCLR, which is called MCLR-1Y, is 8.25 percent per annum with effect from Monday, February 12, 2018.
Indian Bank’s current interest rate cut will reduce the cost of funds for those people who want to avail Indian Bank personal loans.
Indian Bank – Current Personal Loan Interest Rates for the New Loans
Indian Bank Personal Loan Interest Rate: 9.55% to 13.85% Per Annum (MCLR-1Year + 1.30% to MCLR-1Year + 5.60%)
Indian Bank Personal Loans Rate of Interest is Floating or Fixed: Floating Rate of Interest
Indian Bank Personal Loan Processing Fee and Documentation Charges: 0.51% to 1.00% of the Personal Loan Amount plus GST
Indian Bank Personal Loan Minimum Borrowing Amount: Minimum Personal Loan Amount is Rs. 50,000
Indian Bank Personal Loan Maximum Borrowing Amount: Maximum Personal Loan Amount is Rs. 6,00,000
Minimum Tenure for the Indian Bank Personal Loans: Minimum Personal Loan Tenure is 12 Months
Maximum Tenure for the Indian Bank Personal Loans: Maximum Personal Loan Tenure is 36 Months
Minimum Net Income Requirement for Availing Indian Bank Personal Loans: Minimum Net Income Required is Rs. 12,000 Per Month
Minimum Age Limit for Getting the Indian Bank Personal Loan Sanctioned: Minimum Age 21 Years at the Time of Personal Loan Commencement
Maximum Age Limit for Getting the Indian Bank Personal Loan Sanctioned: Maximum Age 58 Years for Salaried Applicants and 60 Years for Self-Employed Applicants at the Time of Personal Loan Maturity
Indian Bank Personal Loan Pre Closure Charges or Prepayment Penalty: Nil Charges or Penalty
Charges for Indian Bank Personal Loan EMI Late Payment: Minimum 2% Per Month of the Indian Bank Personal Loan EMI Outstanding Amount plus GST
Indian Bank Personal Loan EMI Cheque, SI, or ECS Bounce Charges: Rs. 500 plus GST
Different Options for Making Indian Bank Personal Loan EMI Payments: The three options for making Loan EMI payments are Standing Instruction (SI), Electronic Clearing Service (ECS), or Post-Dated Cheques (PDCs)
Guarantor Requirement for the Indian Bank Personal Loan: No Guarantor is Required
Indian Bank – Deposits and Loans Interest Rates
Current Deposits and Loans Interest Rates of Indian Bank