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Indian Bank Personal Loan Interest rates from 10.90% p.a

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Compare Indian Bank Personal Loan Interest rate Vs others

Banks
Personal Loan Interest Rates 2025
Institution Interest Rates
HDFC Bank 10.85% – 24.00%
Axis Bank 11% – 24.00%
Bandhan Bank 11.90% Onwards
ICICI Bank 10.85% – 16.25%
DBS Bank 10.99% – 24.00%
Bank of Baroda 11.05% – 18.75%
SBI 11.45% – 14.85%
IndusInd Bank 10.49% – 24.00%
Yes Bank 11.25% – 21.00%
Standard Chartered 11.50% – 24.00%
IDFC First 10.99% – 23.99%
Kotak Mahindra Bank 10.99% – 24.00%
PNB 11.40% – 17.95%
Indian Bank 10.90% – 24.00%

Indian Bank Personal Loan Interest Rates

Overview of Rates Indian Bank offers personal loans with interest rates ranging from 12.15%. The rate applied to your loan depends on factors such as:
  • Credit Score: A higher credit score can fetch you lower rates.
  • Income: Stable and higher income levels reduce risk for the lender, resulting in better rates.
  • Employment Type: Salaried individuals with secure jobs may enjoy lower rates.

Factors That Drive Indian Bank Personal Loan Interest Rates

  • Credit Score: A score above 750 will get you the best interest rate in the market.
  • Loan Amount and Tenure: Larger amounts or longer repayment periods may warrant small changes in the interest rate.
  • Employment Type and Stability: Government employees and individuals with stable jobs receive preferential rates.
  • Existing Relationship with Indian Bank: If you have a salary account or have been banking with Indian Bank, you may get added advantages.

How to Get the Best Interest Rate on Indian Bank Personal Loans

  • Improve Your Credit Score: Clear your dues and keep balances low.
  • Negotiate Rates: Financially secure individuals can negotiate better rates.
  • Look for Pre-Approved Offers: Customers pre-approved by Indian Bank might get lower interest rates.

Indian Bank Personal Loan EMI Calculator

Using an EMI calculator is a simple way to estimate your monthly payments and plan better. Steps to Calculate Your EMI
  1. Input Loan Amount: Enter the total credit required.
  2. Select Interest Rate: Enter the applicable interest rate.
  3. Choose Tenure: Decide the repayment tenure in months.
Example Scenario If you take a loan of ₹7,00,000 for 5 years at a 13.5% interest rate:
  • Loan Amount: ₹7,00,000
  • Interest Rate: 13.5%
  • Tenure: 5 years
Using the formula for EMI calculation, the monthly EMI would be approximately ₹16,107.

Types of Personal Loan from Indian Bank

Type of Personal Loan Details
Indian Bank Clean or Secured Loan Scheme for the Salaried Purpose: To meet medical, education, or home requirements.
Eligibility: Salaried individuals (government/private employees).
Loan Amount: Up to 20 times the monthly gross salary.
Tenure: Up to 7 years.
Processing Fee: 1%.
Indian Bank Pension Loan Scheme Purpose: To meet expenses like marriage, education, or medical needs.
Eligibility: Pensioners, family pensioners (State/Central government), re-employed pensioners.
Loan Amount: Up to 18 times the monthly pension.
IB Professional Loan Purpose: Financial support for professionals (Doctors, Engineers, Chartered Accountants).
Eligibility: Minimum 2 years of experience.
Income: Minimum gross income of ₹7.5 Lakhs per year.
Loan Amount: 2.5 times the lowest Gross Annual Income in the last two years.
Eligibility Criteria
IB Pension Loan Scheme – State/Central Government Pensioners, Family Pensioners, and Re-employed Pensioners.
Not Allowed: Pensioners under EPF and CRS retirees.
IB Clean Loan to Salaried – Employees from government/quasi-government approved institutions or reputed private companies.
Minimum Entry Age: 21 years.
CIBIL Score: Not less than 700.

FAQs for Indian Bank Personal Loan Interest Rate

  • Can I apply for a lower interest rate after loan disbursal?
    • No, the interest rate is fixed at the time of disbursal.
  • Are concessional rates available for women or professionals?
    • Yes, Indian Bank offers lower rates for women and certain professionals.
  • What happens if I miss an EMI payment?
    • A late payment penalty is incurred; consult the bank for financial advice.
  • Are there penalties for prepayment or foreclosure?
    • Yes, charges may apply, but early repayment reduces the overall interest burden.
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