Corporation Bank Personal Loan - Fees and Charges

Corporation Bank Personal Loan Interest Rates 2017

Particulars

Salaried

Self-Employed

Interest rate

For Corporation Bank salary account holders with undertaking letter: 12.75% p.a. For salaried class not holding account at Corporation Bank, or holding account but undertaking letter not available: 13.75% p.a. For pensioners: 12.75% p.a.

13.75% p.a.

Loan Amount

If salary is routed through CorpBank: Up to 9 months’ net salary. If salary is routed through CorpBank and undertaking letter is available: Up to 12 months’ net salary. 

Loan upto 25% of the gross annual income. 

Minimum amount of Rs.10,000 and maximum of Rs.3.50 lakh.

Minimum loan amount: Rs.10,000. 

 

Maximum loan amount: Rs.3.50 lakh.

Loan Tenure

Maximum: 60 months

Maximum: 60 months

Lowest EMI

Rs.227 p.m. for Corporation Bank salary account holders with undertaking letter and pensioners. 

Rs.232 (calculated for the minimum loan amount at the longest tenure allowed at the lowest interest rate available)

Rs.232 for salaried class not holding account at Corporation Bank, or holding account but undertaking letter not available. 

(Calculated for the minimum loan amount at the longest tenure allowed at the lowest interest rate available)

Processing Fee

1.50% of the loan amount subject to a minimum of Rs.500

1.50% of the loan amount subject to a minimum of Rs.500

Age

NA

NA

Prepayment/Foreclosure Charges

No charge

No charge

Loan Types

Personal Loan

Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.

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Home Loan

Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.

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Loan Against Property

A sudden requirement of funds is an unavoidable circumstance of business or personal life. Whether a personal necessity (hospitalization, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.
In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.

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Business Loan

Running a business is not easy. You have to constantly think of ways and means to keep it going and growing. As a part of the growth plan, you require financing for expanding operations or to buy new equipment or inventory or simply increase the working capital. To help you with your financing needs we offer Business Loans that will help your business grow.

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