I recently helped my cousin explore loan options, and we looked into the Corporation Bank personal loan interest rate to see if it was competitive. I found the rates aren’t fixed for everyone. It depends on factors like your credit score, loan amount, and repayment period. However, the rates here range from 10.75% to 14%, but it all comes down to eligibility.
Factors Affecting Personal Loan Interest in Corporation Bank
Here are the aspects influencing the Corporation Bank loan interest rate.
Credit Score and Repayment History: A high credit score often means lower interest rates. If you’ve maintained a strong repayment track record, you might get a better deal.
Employment Type: Salaried individuals usually get lower rates compared to self-employed applicants. Banks see salaried applicants as lower risk.
Loan Amount & Tenure: Opting for a shorter tenure may help in securing a better interest rate, but it also means higher EMIs.
While talking to the customer representative of Corporation Bank, they informed the existing customers to get preferential rates. I hope you found this helpful.
Get Instant Personal Loans at Minimum Paperwork via NB InstaCash!
Also Read:
How can I Get a Instant Loan in 5 Minutes?
Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
Last year, I applied for a personal loan at Corporation Bank, so let me share the Corporation Bank personal loan interest and other details here. The interest rate here starts at 10.79% and goes up to 12.25%. When applying for the loan, I used the official portal of the bank.
What is the Personal Loan Interest in Corporation Bank?
The interest rate of Corporation Bank's personal loan is one of the lowest interest rates any bank offers for its customers. I have added all the information pertaining to the loan below.
| Particulars | Details |
Interest Rate |
10.75% to 12.25% p.a. |
Loan Amount |
Rs.10,000 to Rs.3,50,000 |
Loan Tenure |
Up to 60 months |
Processing Fee |
1.5% of the loan amount, subject to a minimum of Rs.500 |
Besides that, let me tell you about the documents that you need to provide for the corporation bank personal loan
Identity Proof like Passport, Driving License, Aadhaar Card, Voter ID, etc.
A valid ID proof with the permanent address or bills or rent agreements
Provide Income proof, i.e., a bank statement from the last three months
And that’s about it. Hopefully, this information about the Corporation Bank personal loan interest was helpful to you.
Avail Instant Approval and Disbursement of Personal Loan through NB Instacash Read MoreWhat Is Corporation Bank Rate Of Interest For Home Loan?
What is the Personal Loan Interest in Corporation Bank?
Bharti
88 Views
2
1 Year
2024-07-31T16:25:42+00:00 2024-07-31T16:25:43+00:00Comment
Share