Syndicate Bank Personal Loan Interest Rate Key features
| Particulars | Salaried | Self-Employed |
| Interest rate | MCLR + 4.0% = 13.00% p.a. | MCLR + 5.0% = 14.45% p.a. |
| Loan Amount | 24 times of current Gross Monthly Salary | The amount equivalent to annual income as per last Income Tax Returns or Rs.5 lakh, whichever lower |
| Minimum: Rs.50,000 | ||
| Maximum: Rs.7.5 lakh | ||
| Loan Tenure | Maximum: 60 months. | Maximum: 60 months. |
| Lowest EMI Per Lakh | Rs.1,149.20 per month (calculated for the lowest amount taken for the longest tenure on offer at the lowest rate of interest). | NA |
| Processing Fee | 1.22% of the loan amount, subject to a minimum of Rs.614. | 1.22% of the loan amount, subject to a minimum of Rs.614. |
| Age | Minimum age: 21 years. | Maximum age: 65 years on the date loan is sanctioned. |
| Maximum age by which loan is to be repaid: 1 year before the official retirement age. | ||
| Prepayment/Foreclosure Charges | 2.28% of outstanding balance only in case of foreclosure. | 2.28% of outstanding balance only in case of foreclosure. |
| Minimum Credit Score | No less than 750 | No less than 750 |
Advantages of Syndicate Bank Personal Loan Scheme
- Syndicate Bank Personal Loan Interest Rate varies for different personal loans.
- The Base rate at Syndicate Bank is 8.95% and it is used to calculate the different interest rates.
- Specifically for pensioners, Interest rates are among the lowest in personal loans offered by the bank which is at 12.95% per annum.
- An interest rate of 14.95% per annum is charged to doctors who opt for the personal loan scheme.
- A Personal Loan does not require any co-applicant or nominee.
- There is no need to deposit any sort of mortgage or collateral security to the bank/NBFC.
- A personal loan is a multi-purpose offer loan.
- The amount of a personal loan completely depends upon the repayment capacity of individual income.
Factors affecting Syndicate Bank Personal Loan Interest Rate
There are multiple factors that can affect the Syndicate Bank personal loan interest rates, some of which are mentioned below.
- Loan tenure – The personal loan tenure has a bearing on the interest rates, short tenure loans attract a higher interest rate compared to longer-term tenures.
- Relationship with Syndicate Bank – Maintaining a good relationship with Syndicate Bank is in the best interest of an individual as it might help in lowering their interest rates, owing to their past actions and personal standing. It is possible for banks to reduce interest rates for valued customers and for those who have displayed great commitment to their payments in the past.
- Employment Profile – The profession is also a very important aspect as it has a bearing on interest rates, as is visible in the rates charged by Syndicate Bank for different people. Pensioners have a lower interest rate as they are not active in working fields and depend on their pension to make ends meet. Similarly, a doctor’s interest rate will vary compared to interest rates for borrowers from other professions.
- Age – Borrowers who are young may have a higher interest rate charged compared to other borrowers, owing to their fast-paced lifestyle.
- Repayment capability – an Individual’s repayment capacity plays an important role, one who can repay a greater sum ends up paying less interest compared to one who pays smaller sums.
Note: Interest rates charged by Syndicate Bank are at their sole discretion and are subject to change.
Syndicate Bank Personal Loan Interest Rate, Fees and Charges
| Particulars | Charges |
| Syndicate Bank Personal Loan Interest Rate | 8.95%(Base Rate) |
| Syndicate Bank Personal Loan Processing Charges | 1% of Loan Amount |
| Prepayment Charges | NIL |
| Stamp Duty | As per state laws |
| Cheque Bounce Charges | As per bank terms |
Syndicate Bank Personal Loan Interest Rate Amortisation Table
| Year | Principal paid (Rs) | Interest paid (Rs) | Balance amount (Rs) |
| Year 1 | 20379 | 11814 | 79621 |
| Year 2 | 23192 | 9001 | 56429 |
| Year 3 | 26393 | 5800 | 30036 |
| Year 4 | 30036 | 2157 | 0 |
More About: Interest Rates on Personal Loan
Syndicate Bank Personal Loan Eligibility Criteria
The eligibility criteria may vary between Salaried and Self-Employed.
Salaried Applicants:
- An applicant applying for the Personal Loan should have a good CIBIL score.
- Age requirements are 21 to 60 years.
- The applicant is required to submit his bank statement for the last three months and salary slips for the last 6 months.
- Should have worked for at least 3 years.
- An applicant living in a metropolitan city should have a minimum income of Rs 18,000. And for a person living in a non-metropolitan city, the minimum salary should be Rs 12,000.
Self-Employed Applicants:
- The applicant should not be below 25 years of age.
- 750+ credit scores will be approved loan.
- The minimum amount should be Rs 2.5 lakhs per annum at least.
- Operational business from 3years is essential.
- The whole documentation process is simple and easy; the applicant has to submit his financial records and his bank statement for the last three months.
Syndicate Bank Personal Loan Top Up Loan
Syndicate Bank’s personal loan top-up is a facility through which you can avail of additional funds under the same existing personal loan without having to apply for a fresh loan.
Syndicate Bank lets you avail of this feature if you have paid a minimum of nine regular EMIs without any break in payment. You can get a top-up with a minimum of ₹50,000 and a maximum of your already sanctioned loan amount.
Dialabank helps you choose the best personal loan offers available for you.
Click here to know more about- EMI Calculator
Syndicate Bank Personal Loan Balance Transfer
Personal Loan Balance Transfer is the process of transferring your existing personal loan with another bank to a new lender for lower rates of interest and better loan terms. You can apply for a Syndicate Bank’s personal loan balance transfer to lower your financial burden.
Syndicate Bank Personal Loan Interest Rate FAQs
✅ How to apply for Syndicate Bank Personal Loan?
Apply for a personal loan with Syndicate Bank by visiting your nearby branch of Syndicate Bank or by submitting a simple form with Dialabank. With us, you can get the benefit when you apply from anywhere and approve your personal loan faster.
✅ What is the Syndicate Personal Loan Interest Rate?
Syndicate Personal Loan Interest Rate is charged at 8.95% per annum.
✅ What is the minimum age for getting a Personal Loan from Syndicate Bank?
You must be 21 years old to apply for a personal loan through Syndicate Bank.
✅ What is the maximum age for getting a Personal Loan from Syndicate Bank?
The maximum age for getting a personal loan from Syndicate Bank is 60 years.
✅ What is the minimum loan amount for Syndicate Bank Personal Loan?
You can take a minimum loan amount of Rs. 50,000 from Syndicate Bank for Personal Loan.
✅ What is the maximum loan amount for Syndicate Bank Personal Loan?
You can avail of a maximum loan amount for your personal loan of Rs. 10 lakh from Syndicate Bank.
✅ What are the documents required for Syndicate Bank Personal Loan?
You will require an Aadhaar card/Voter ID, PAN card, salary slips/ITR, and two recently clicked photographs that are required for a personal loan for Syndicate Bank.
✅ What is the Processing Fee for Syndicate Bank Personal Loan?
The processing fee charged by Syndicate Bank for a personal loan is 1% of the Loan Amount.
✅ How to get Syndicate Bank Personal Loan for Self Employed?
Syndicate Bank offers personal loans for Self Employed to help them financially. You must have the ITR files for the last two financial years.
✅ What is the Maximum Loan Tenure for Syndicate Bank Personal Loan?
The maximum loan tenure duration in Syndicate Bank for a personal loan is 60 months.
✅ What should be the CIBIL Score for Syndicate Bank Personal Loan?
You can avail of a personal loan from Syndicate Bank if you have a CIBIL score of 700 and above.
✅ Do I have a pre-approved offer for Syndicate Bank Personal Loan?
You can examine your pre-approved personal loan offers from Syndicate Bank through Dialabank. You have to fill a form, and the bank will check out the best offer and present it to you.
✅ How to calculate EMI for Syndicate Bank Personal Loan?
You can calculate your personal loan EMI for Syndicate Bank by using the EMI calculator.
✅ How to pay Syndicate Bank Personal Loan EMI?
Your personal loan EMIs from Syndicate Bank are automatically subtracted from your bank account. You can also use internet banking for the payments of your personal loan.
✅ How to close Syndicate Bank Personal Loan?
If you want to close your personal loan from Syndicate Bank, make sure you have paid the outstanding personal loan amount and receive no dues certificate from the Syndicate bank branch.
✅ How to check Syndicate Bank Personal Loan Status?
You must visit the Syndicate Bank branch to know about your personal loan status. On the other hand, visit Dialabank and fill a form.
✅ How to close Syndicate Bank Personal Loan Online?
The following steps are to be followed for a closing personal loan from Syndicate Bank:
- Visit the net-banking page of Syndicate Bank.
- Login using your details.
- Pay for your personal loan and save the transaction receipt.
✅ How to pay Syndicate Bank Personal Loan EMI Online?
You can pay your personal loan EMI through the net-banking service of Syndicate Bank. Dialabank will compare offers and deals of different banks to opt for the right choice. You have to fill a form, and the bank will work for you.
✅ How to check Personal Loan Balance in Syndicate Bank?
You have to need to come in contact with the customer care number of Syndicate Bank for checking your personal loan balance. If you are searching for low-interest personal loans, visit Dialabank and fill a form for Personal Loan Balance Transfer and the bank will do the best work for you.
✅ How to download Syndicate Bank Personal Loan Statement?
Using the Syndicate bank mobile banking app for downloading your personal loan statement of Syndicate Bank. Also, visit the online portal of Dialabank and fill a form and know about the personal loan offers for you.
✅ How to Top Up Personal Loan in Syndicate Bank?
If you want to top-up your personal loan from Syndicate bank, you have to visit the bank branch and come in contact with the loan officer. You can fill a simple form with Dialabank to avail of Personal Loan Top Up.
✅ What happens if I don’t pay my Syndicate Bank Personal Loan EMIs?
If you are unable to pay your personal loan EMIs, then Syndicate Bank will charge a penal interest. You can transfer your balance using Dialabank to get low-interest personal loans.
✅ How to find the Syndicate Bank Personal Loan account number?
You will require to contact your Syndicate bank loan branch to know your personal loan account number. You may also fill out the form available at Dialabank and we will do all the work for you.
✅ How to Get in touch with Dialabank for a personal loan?
You can simply contact us by dialling +919878981166 or by visiting us online at Dialabank.
