Indian Bank Personal Loan Eligibility

Indian Bank Personal Loan Eligibility Criteria

• Some of the most important things for creditors to keep in mind when applying for a personal loan from Indian Bank include the following:
• Your age must be at least 21 years old at the time of applying for a personal loan and your age must be 60 years.
• To apply, you must be an employee of a designated private sector or a public sector company that includes state, federal, and local authorities.
• You can work for at least one year with your new manager and have a combined 2-year work experience at the time of applying for a loan.
• If you live in Mumbai, Hyderabad, Chennai, Ahmedabad, Kolkata and Cochin, Delhi, Bangalore, your monthly income should be at least Rs. 20,000. The minimum wage required to qualify for an Indian Bank loan is Rs. 15,000 if you live in another city or city of India.

Indian Bank Personal Loan Against the Asset

Smartdraft – Overdraft Against Salary

You can be allowed for a sum up to three times your income with the Indian Bank’s pay-as-you-use overdraft loan. No matter what the overdraft balance is assigned, you only need to pay interest on the amount you use. The Overdraft Against Salaries may even be foreclosed without any mortgage charge at any stage.

Eligibility Criteria

• You should have an Indian Bank Corporate Salary Account with periodical salary credits.
• Rs. 15,000, at least, should be your monthly wage.
• The company you are working with should be on the approved list for overdraft facilities.

Eligibility Calculation

The Personal Loan Eligibility Calculator available on Dialabank helps an individual to determine if, from home or office comfort, he or she is eligible for the Indian Bank Personal Loan. The personal loan eligibility calculator is quick to use and asks for some basic information to check your bank eligibility, such as the form of occupation, loan amount, monthly salary, mobile number, current city, etc.

How to Improve Your Indian Bank Personal Loan Eligibility?

• A healthy credit score: Your credit score, representing your prepayment and financial conduct, has a significant impact on your eligibility. You definitely have a good chance of receiving your loan approved if your credit score is right. But, If you have a low credit rating, you may not be considered, or interest will be charged.
• Choose the loan amount wisely: After testing your repayment ability, you should ask for your loan number. Therefore, a loan that you can repay in a timely manner without interrupting your monthly expenses should be claimed.
• Don’t apply for several personal loans at a time with separate banks: If you think that applying at the same time as most lenders increase your chances of getting a loan, you are mistaken. Whenever you apply for a loan, it is reported as a requirement in your credit report and is therefore available to lenders. You appear to be starving because you are applying for several loans at the same time, which negatively affects your personal loan eligibility.
• Pay the latest bills on your credit card and loans: Make sure you pay off your new unpaid obligations (credit card debt and loans) to increase your credit-to-credit ratio before applying for a loan. This is because the ability to pay now is limited as you already use several EMIs, which reduces the chances of getting any approved credit.

FAQs on Indian Bank Personal Loan Eligibility

✅ What is the interest rate and processing fees of Indian Bank?

The interest rate is 10.50%. The processing fees for Indian Bank personal loans are 1% of the loan amount.

✅ Where can I find the Indian Bank nearest branch?

You can find the nearest branch of Indian Bank by just calling 9878981144.

✅ How long will it take to get my Indian Bank personal loan disbursed?

The loan balance typically gets disbursed to your account within 3 to 5 working days after your personal loan application is accepted.

✅ What is the minimum salary requirement to avail Indian Bank personal loan?

Your minimum salary to avail of an Indian Bank personal loan should be Rs. 15,000. Those living in the metro and tier 1 towns such as Bangalore, Delhi, Mumbai, Hyderabad, Chennai, Kolkata, Ahmedabad, and Cochin, however, require a minimum monthly salary of Rs. 20,000 to apply for the personal loan of the Indian Bank

✅ How to check my Indian Bank Personal Loan eligibility online?

You go into the Dialabank website and use the personal loan eligibility calculator to check your Indian Bank Personal Loan Eligibility online.