Interest Rate
10.30 - 13.30
Processing Fee
0.50%
Loan amount
50000.00 - 2000000.00
Tenure
5 years
Avail Loan amount equal to 50% of Gross Annual Income If latest ITAO is submitted or 100% of average Income if last 3 year ITAOs are submitted.
Avail upto 75% of the value of the property if mortgage is offered as security, whichever is less.
Avail loan against security (NSC / IVP / KVP,) upto 80% of purchase price if completed 24 months OR 65% of purchase price if completed 12 months but less than 24 months.

Syndicate Bank Personal Loan

Syndicate Bank Personal Loan at a glance

Annual Interest Rate

10.30% - 13.30%

Loan Term

12 Months - 72 Months

Loan Amount

Up to Rs. 20 Lacs

Time of Funding

Within 7 days

Pre-Payment Charges

Zero Charges

Documentation

  • Personal Loan Application along with Recent Passport Sized Photograph
  • Identity Proof (any one of the following):
    • Passport
    • Voter ID Card
    • Driving License
    • PAN Card
    • Aadhar Card
  • Residence Proof (any one of the following):
    • Ration Card
    • Telephone Bil
    • Electricity Bill
    • Rental Agreement
    • Passport
    • Bank Passbook or Statement
    • Driving License
  • Age Proof (any one of the following):
    • Birth Certificate
    • PAN Card
    • Passport
    • Any Other Certificate from a Statutory Authority
  • Proof of Income (any one of the following):
    • Bank statements or passbook for last 6 months
    • Latest 3 Months Salary Slip or Form 16
    • IT Returns

Compare Syndicate Bank Personal Loans to Other Banks

Bank Name Syndicate Bank

APR

10.30% - 13.30%

Maximum Lending Amount

Rs. 20 Lacs

Processing Fee

Zero to upto Rs. 500

Guarantor

Necessary

Pre-Closure

Nil

Lending Terms

  • Interest Rate Range: 10.30% - 13.30% per annum
  • Loan Amount: Maximum up to Rs. 20 Lacs
  • Loan Duration: Minimum 12 Months to Maximum 72 Months
  • Loan Disbursement: Within 7 days

Syndicate Bank Personal Loan Rate of Interest

Personal Loan Type Applicable Interest Rate

Synd Saral Loan

Personal Loan for Salaried and Non-Salaried Applicants

10.30% - 13.30% per annum

Synd Senior Loan

Personal Loan for Pensioners

12.05% per annum

Synd Connect Loan

Personal Loan for Salaried Applicants

12.05% per annum

Loan Offerings

Synd Saral Loan

  • Interest Rate Range:
    • 13.30% per annum for Salaried Applicants
    • 13.30% per annum in case of Unsecured Personal Loan and 12.30% in case of Secured Personal Loan, for Non-Salaried Applicants.
    • 10.30% per annum for applicants taking personal loan against NSC / LIC / IVP / KVP / RBI Bonds OR Mortgage of property.
  • Loan Amount:
    • Salaried Applicant drawing salary through Syndicate Bank, can borrow loan amount equal to 12 Months Gross Salary with no cap on maximum loan amount.
    • Salaried Applicant doesn't have Syndicate Bank Salary A/c, can borrow loan amount equal to 12 Months Gross Salary, subject to maximum Rs. 3 Lacs.
    • Non-Salaried Applicant taking a unsecured loan can avail maximum upto Rs. 5 Lacs.
    • Non-Salaried Applicant taking a secured loan, can avail maximum Rs. 20 Lacs subject to the below terms.
      • Loan amount equal to 50% of Gross Annual Income If latest ITAO is submitted or 100% of average Income if last 3 year ITAOs are submitted.
      • Or, 75% of the value of the property if mortgage is offered as security, whichever is less.
    • Applicant taking loan against NSC / IVP / KVP, can avail loan amount upto 80% of purchase price if completed 24 months OR 65% of purchase price if completed 12 months but less than 24 months.
    • Applicant taking loan against RBI relief bond can take loan amount upto 80% of purchase value.
    • Applicant taking loan against Mortgage of Property, can avail loan amount upto 80% of Surrender Value.
  • Loan Duration: 12 Months - 60 Months
  • Processing Charges: 0.50% of the Loan amount, subject to Minimum Rs. 500.

Synd Senior Loan

  • Interest Rate Range: 12.05% per annum
  • Loan Amount:
    • Pensioners of age 65 years or less, can borrow loan amount equal to 18 times the Gross Monthly Pension, subject to Maximum Rs. 10 Lacs.
    • Pensioners of age 65 years to 70 years, can borrow loan amount equal to 18 times the Gross Monthly Pension, subject to Maximum Rs. 5 Lacs.
    • Pensioners above the age of 70 years, can borrow loan amount equal to 5 times the Gross Monthly Pension, subject to Maximum Rs. 2 Lacs.
  • Loan Duration: 12 Months - 72 Months
  • Processing Charges:
    • Zero processing charges for loan up to Rs. 50,000.
    • Processing charges of Rs. 200 for loan above Rs. 50,000.

Synd Connect Loan

  • Interest Rate Range: 12.05% per annum
  • Loan Amount: Upto 15 times of Gross Monthly Salary, subject to maximum Rs. 20 Lacs.
  • Loan Duration: 12 Months - 72 Months
  • Processing Charges: 0.25% of the loan amount, subject to minimum of Rs. 250.

FAQs

Who can avail Synd Saral Loan?

The applicant applying for Synd Saral Loan should meet any of the following criteria –

  • Salaried applicant who is a permanent employees of State / Central Govt / Public Sector / Reputed Private Sector Companies or working as a Teacher / Professor.
  • Non-Salaried applicant working as Professionals / Doctors / Engineers / Lawyer / CAs etc.
  • Borrower who is capable to offer NSC / LIC / IVP / KVP / RBI Bonds OR Mortgage of property as a meaning of loan security.
Is security mandatory to be provided to avail the Synd Saral Loan?

Yes, a third-party guarantee is acceptable to the bank.

Is there any benefit for female applicants?

Yes, Syndicate bank currently offers 0.25% concession on annual interest rate to the female borrower in case of loan amount upto Rs. 1.50 Lacs.

Who can avail Synd Senior Loan?

Any applicant who receives regular monthly pension from Central / State Governments / Public Sector Undertakings / Units, Defence Establishments and other government or quasi government institutions, where he/she is drawing pension through Syndicate Bank Account.

What would happen if my monthly EMI got late?

In case you were unable to pay your monthly EMI till the due date, Syndicate bank would charge a late payment fee of 2% per month on the overdue amount.

Do I have to provide any security or guarantee to avail Synd Senior Loan?

Yes, guarantee is necessary to be provided in some case to avail Synd Senior Loan. The requirement for guarantee is as follows –

  • Guarantee isn't necessary for loans up to 6 months gross monthly pension or Rs. 50000, whichever is lower. Wherever spouse is available he / she shall be the co-applicant.
  • In all other cases whenever spouse is alive, he / she shall be taken as the co-applicant.
  • In the absence of spouse, a legal heirs or a suitable third party guarantee in necessary. The guarantor should have suitable incoome.
What are the requirements for security or guarantee for Synd Connect Loan?

A third-party guarantee is acceptable to the Bank. Spouse having independent income as per the eligible income criteria can also become the guarantor.

Who can apply for Synd Connect Loan?

The applicant applying for Synd Connect Loan can be a permanent employees of Central / State Governments / Public Sector Units, Public Sector Undertakings including banks, Financial institutions, LIC., etc, OR an employee of Defence Establishments and other Government / Quasi-Government Institutions, Blue chip Companies, where applicant is drawing salary through any Syndicate Bank branch.

Personal Loan
1 4 5
2019-07-08

Good Experience.

When I applied to the Personal Loan with this bank, the things were so easy as they provided me the assistance throughout the process of Loan Approval.

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