Categories
Categories
Amir Azam
by on October 22, 2021
61 views

When you want to avail of a personal loan, you need to check the maximum loan amount, tenure, and interest rate, the Indian Bank Personal Loan EMI CalculatorThe EMI Calculator can help you calculate the Personal Loan EMI and interest cost. It will assist you in determining the amount and length of your loan based on your repayment capacity. 

Indian Bank Personal Loan EMI Calculator  

For checking the result, Indian Bank providing Personal Loan EMI Calculator to the applicants. The reducing balance method is used to compute the EMI on Indian Bank personal loans. The table below explains how to calculate EMIs for personal loans from Indian Bank using various loan amounts, repayment terms, and interest rates: 

Loan Amount  

Interest Rate  

Tenure 

EMI (Rs./month) 

Rs. 50,000 

10.35 % p.a.  

12 months 

4,404 

Rs. 1 lakh 

12% p.a. 

24 months 

4,707 

Rs. 2 lakh 

13 % p.a. 

36 months 

6,739 

Rs. 3 lakh 

15% p.a. 

48 months 

8,349 

Rs. 5 lakh 

14 % p.a.  

60 months 

11,634 

Know your Indian Bank Personal Loan Eligibility Criteria  

Given below are the Indian Bank Personal Loan Eligibility Criteria that help to avail the loan easily:  

  • The applicant's age must be minimum of 21 years old and not more than 58 years old. 
  • The applicant must be a full-time employee with a minimum of 3 years of experience in organizations such as the government, quasi-government, boards, reputable companies, endowments, corporate industrial establishments, and others. 

Indian Bank Personal Loan Documents Requirements 

Customers must provide the following papers to obtain a personal loan from Indian Bank: 

  • A copy of your Aadhaar/PAN/Voter ID/Passport/Driving License, etc. Photo Identity Proof 
  • Proof of Income: The most recent Form 16 or six months' worth of pay stubs showing all deductions (duly attested by the employer) 
  • A copy of your Ration Card / Electricity Bill (not older than 3 months) / Passport will suffice as proof of address. 
  • Employment Proof: A copy of the employment order, employee number, employer-issued Photo Identity Card, and so on. 

Additional documentation for an IB Clean Loan is required: 

  • PAN ITR/Form 16 ITR/Form 16 ITR/Form 16 ITR/ (mandatory) 
  • Authorization to deduct funds from a savings account/ECS/NACH mandate 

For an IB Pension Loan, you will need the following additional documents: 

  • Authorization to deduct monthly loan payments from the SB Account into which the pension is deposited. 
  • PPO part for retirees 
  • Ensures that your spouse is qualified for a family pension. In the absence of a spouse, a legal heir or family member/third party guarantee is required (acceptable to bank).    

IND-COVID Emergency Salary Loan from Indian Bank 

In response to the financial hardship that many people are experiencing as a result of the Covid-19 epidemic, Indian Bank has launched a new product called the IND-COVID Emergency Salary Loan. An individual can acquire a loan equivalent to 20 times their most recent monthly gross pay using this method. The maximum loan amount, however, would not exceed Rs. 2 lakh. The loan will be granted at a lower interest rate to guarantee that you have enough money to cover medical expenses and other necessities. 

Conclusion  

It is concluded that, if you check the Indian Bank Personal Loan eligibility check and Personal Loan EMI Calculator. Thus, it is advisable that using the EMI Calculator can provide you with the loan amount, interest rates, and other details. Including this, you can also have the details of the documents requirements for the loan. Further information, you can also use Afinoz Personal Loan EMI Calculator and get the related information for the bank.

Posted in: Loan
Be the first person to like this.