Is Syndicate Bank Personal Loan Interest Rates Appropriate For Your Financial Requirements?

Personal loans are provided by the banks and NBFCs to satisfy the urgent need of money, but to find a suitable lender or bank is not an easy task. Don’t worry because Syndicate Bank provides personal loans to the customers at an affordable rate of interest. Syndicate Bank gives personal loans to both self-employed and salaried individual if they meet the loan eligibility. Read the given article to know about syndicate bank personal loan interest rates and other benefits of the loan. 

Key features of syndicate bank personal loan

You can avail the personal loan from Syndicate Bank if your age is between 21 to 58 years. Because the bank doesn’t provide a loan to the customer whose age is above or below the age limit. The Syndicate bank can offer you a loan amount from INR 50,000 to 20 lakh depending on your repayment capacity and CIBIL score. Syndicate Bank personal loan interest rates range from 10.20% to 13.40% and you can calculate the total payable interest rate of your loan amount using the EMI calculator. 

When you have estimated the EMI of your loan amount then you can choose a suitable tenure for the repayment, as Syndicate Bank gives you a loan tenure up to 6 years. But before applying for the loan you must check your loan interest rates because many factors can affect your Syndicate Bank personal loan interest rates

Factors affecting your syndicate bank personal loan interest rates

The reason behind the imposed interest rates on your syndicate bank personal loan is as follows:

Income: if you have a decent flow of income and a stable job or business then you might get a desirable rate of interest on your loan amount. Otherwise, a fluctuating income doesn’t make you eligible for Syndicate Bank personal loan. 

Relationship with the bank: existing account holders and loan customers of Syndicate Bank may get the benefit of pre-approved loan offers, if paid their previous loan EMIs without any defaults. 

Loan payment record: Syndicate Bank decides your loan interest rates after checking your credit score report that gives the overall information of your loan payment record. If you have a bad credit report then you have to pay high-interest rate on your loan amount. 

Apply for syndicate bank personal loan and fulfill your requirements

You can go to your nearby Syndicate Bank branch to apply for a personal loan or can visit its official website for a hassle-free service. Just login to your account and check apply for the loan by submitting the KYC documents and income documents ( salary slip, bank statement, etc.). Pay a minimum processing fee for your personal loan which is 0.50% of the loan amount, and prepay the loan whenever you needed as syndicate bank charges zero prepayment and foreclosure charges. 

Now, fulfill your requirements with Syndicate Bank personal loans and use the amount to pay your marriage expenses, child’s education funding, medical emergencies and plan foreign vacation. You can use the amount for any personal use as the bank doesn’t track its usage and it is collateral-free.