We at money super bazaar, provide you information of Syndicate Bank Personal Loan, and other factors associated, such as Syndicate Bank Personal Loan interest rate, borrowers fulfilling bank-determined Syndicate Bank Personal Loan eligibility norms, other Syndicate Bank Personal Loan rate of charges and fees. Here you will also get here overview of Syndicate Bank Personal Loan review given by market experts. Syndicate Bank Personal Loan is known as SyndSaral.

• SyndSaral Clean -> a) Salaried

          -> b) Non- Salaried

• SyndSaral Women
• SyndSaral Consumer Durables
• SyndSaral All Purpose Credit Schemes -> Secured Loans only at designated branches.
• SyndSaral Agriculturists -> Demand Loans (clean loans)

         -> Secured Loans (for purchase of consumer durables)

Syndicate Bank Personal Loan Interest Rate:

Syndicate Bank Personal Loan rate is calculated on base rate, that is currently at 9% w.e.f. 15-12-2010. This Syndicate Bank Personal Loan interest rate varies, as:

• SyndSaral Clean -> Salaried and Non-Salaried: base rate + 4.75% = 13.75%
• SyndSaral Women -> base rate + 4.75% = 13.75%
• SyndSaral Consumer Durables -> base rate + 4.75% = 13.75%
• SyndSaral All Purpose Credit Schemes -> base rate + 1.75% = 10.75%
• SyndSaral Agriculturists -> base rate + 4.75% = 13.75%

In all these cases, Syndicate Bank Personal Loan rate is compounded monthly, and its determination is not dependent on classification based on Syndicate Bank Personal Loan eligibility norms.

Syndicate Bank Personal Loan Eligibility:

• SyndSaral Clean -> a) Salaried: Permanent employees of government  

          (central/state), PSUs, reputed companies, teachers etc

          -> b) Non-Salaried: Self-employed and professionals aged less than

            or equal to 60 years of age.

•  SyndSaral Women: Age-range: 20 years to 50 years.

           Working or non-working women, with a reliable source of income or

           savings.

           Employed women should be salary-account holders with bank.

SyndSaral Consumer Durables: available to both salaried and non-salaried sections.

SyndSaral All Purpose Credit Schemes -> loan offered to those with security of National Savings Certificate, KVP, LIC Policy, Reserve Bank of India bonds.

SyndSaral Agriculturists -> Clean loans can be sanctioned to existing customers of bank, through mortgage of their property. Others can be loaned only when they have provided security.

Quantum Of Syndicate Bank Personal Loan:

• yndSaral Clean -> a) Salaried: 12 months’ gross salary

          -> b) Non- Salaried: 50% of gross annual income.

SyndSaral Women: 10 times gross monthly salary with a maximum of Rs.1,50,000 and a 

minimum of Rs.10,000

SyndSaral Consumer Durables: Both salaried and non-salaried class has a ceiling of Rs.2lacs.

SyndSaral All Purpose Credit Schemes: quantum ranges from 65% to 80% of purchase price of securities mentioned above and in Syndicate Bank Personal Loan review.

SyndSaral Agriculturists: Demand Loan: 50% of gross annul income or Rs.1lac, whichever is less.

Secured Loan: 80% of price of durable to be purchased or 50% of annual income or Rs.50,000 whichever is less.

Procedure To Be Followed While Applying For This Loan:

A signed undertaking signed by employer in case of salaried persons, authorizing their employer to deduct amount of installments from their income has to be given, Syndicate Bank Personal Loan review also states same.

According to Syndicate Bank Personal Loan review, a non-refundable processing charge of 0.5% is levied before processing of loan application of those fulfilling above mentioned Syndicate Bank Personal Loan eligibility criteria.

Tenure of Syndicate Bank Personal Loan:

1) SyndSaral Clean -> Salaried and Non-Salaried: 5 years or 60 equated monthly installments have to be paid.

• SyndSaral Women -> loan of this kind has tenure of 7 years.
• SyndSaral Consumer Durables -> tenure here lies at 5 years.
• SyndSaral All Purpose Credit Schemes -> between 2 years to 5 years.
• SyndSaral Agriculturists -> not more than 3 years.
• SyndSaral NRIs -> loan tenure here is a of a 5 year span.

Repayment Of Syndicate Bank Personal Loan:

SyndSaral Clean: Both salaried and non-salaried classes of borrowers have to repay their loan over a span of 5 years, in 60 equated monthly installments.

SyndSaral Women: Both working and non-working women have to repay their loan in equated monthly installments.

SyndSaral Consumer Durables: loan borrowed for this purpose should be repaid through PDCs

SyndSaral All Purpose Credit Schemes -> Secured loans have to be repaid within 60 months

SyndSaral Agriculturists -> amount to be repaid in a period of not more than 3 years.

Default / Delay In Payment Of Syndicate Bank Personal Loan:

a)   A maximum Syndicate Bank Personal Loan rate of 2% overdue charge is charged on amount outstanding in case of overdue interest, compounded monthly over applicable Syndicate Bank Personal Loan interest rate.

b)   A penal charge of 1% is levied on balance amount.

Product Page URL:

http://www.syndicatebank.in/scripts/personalLoans.aspx

Branch Office Address (In Table):