Why Syndicate Bank Personal Loan Interest Rate will be the best option for you?

Why Syndicate Bank Personal Loan Interest Rate will be the best option for you?

Have you ever thought of that one thing that you should keep an eye on before opting for a home loan?

Well, it’s the interest rate that matters the most while looking for any kind of loan facilities. A personal loan is one of the most preferred products in the market among all the loan facilities. You must be thinking about the reason behind it. Well, because of the range of purposes it fulfills for the customers. From funding your child’s marriage to buying you a new iPhone, a personal loan helps you in all of those conditions where you may find yourself short of some funds.

Syndicate Bank is one of the leading public sector banks of India that provide a range of amazing banking products to the customers of which personal loan is the prominent one. Syndicate Bank personal loan interest rate is one of the amazing factors that makes it preferable among needy individuals. As we told before that interest rate is one of the important aspects while choosing the right loan for you. In this article, we will be telling you all about the ​syndicate bank personal loan interest rate​ and its special features.

Keep reading!

What are some of the exciting features of Syndicate Bank Personal Loan?

You can have a look at some of the exciting features of the personal loan facility by the Syndicate Bank mentioned below.

● The loan facility can be availed for fulfilling any genuine credit needs of yours. It can be for buying the latest model of your loved gadget or for your upcoming travel vacation abroad. ● Syndicate bank personal loan​ interest rate depends mainly on the CIBIL score of the borrower. It ranges from 12% per annum to 13.20% per annum. Chances of you getting a lower interest rate are higher if you have a CIBIL score of 700 and above. Because a score of 700 or above is considered to be a good CIBIL score. ● Both salaried and self-employed individuals can opt for the loan in a hassle-free manner. The only thing that is different for both of them is the maximum loan amount that they can get. Salaried individuals can opt for a maximum of INR 4 lakh while the self-employed individuals can get a loan amount of INR 5 lakhs without any security. ● There is no maximum loan amount for those salaried individuals whose salary account is in the Syndicate Bank. ● The loan facility can be availed for a maximum period of 5 years. ● Processing charges for the loan facility are fixed as 0.5% the loan amount or a minimum of INR 500.

Eligibility Criteria for Getting a Home Loan:

There are a certain conditions that you need to fulfill in order to apply for a p ​ ersonal loan​ facility at which you can have a glance at.

For both salaried and self-employed individuals, the minimum age is fixed at 21 years and the maximum age as 60 years.

CIBIL score should be good in order to get a lower rate of interest.

What are the documents that you will need to have?

● Identity Proof - Voter ID Card/ PAN Card/ Aadhar Card ● Address Proof - Passport/ Driving License/ Electricity Bill ● Salary Slip of the last three months ● ITR of last 1 year