Corporation Bank Personal Loan

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max. Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
Axis Bank
Low Processing fee
Max. Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max. Loan Amt.Upto 25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%
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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Features of Corporation Bank Personal Loan

Please Note: Corporation Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.

Note: As of 1st April, 2020, Corporation Bank has been merged with Union Bank of India and no longer operates as a separate entity. Please check the Union Bank of India personal loan page for updated information.
  • Loan amount: Starting from as low as Rs.10,000 the quantum of the Corp Personal Scheme Corporation Bank can go up to Rs. 3.50 lakh.
  • Flexible repayment: You can repay your Corporation Bank personal loan within a period of 60 months. You can the option of choosing the desired tenure as per your repayment ability.
  • Online Application process: The personal loan can be applied online from the comfort of your home or office. This way, you can save the time and effort of visiting the bank’s branch in-person to apply for a personal loan.
  • Minimum documentation: Applying for Corporation Bank Personal Loan requires minimum documents for hassle free and quick processing of your loan application.

Corporation Bank Personal Loan Interest Rates

Type of Personal Loan Type of Applicant Interest Rate
Corp Personal a)      Where both, the salary is routed & undertaking letter is available

b)     Pensioners drawing pension through the branch

c)      When CIBIL score is more than 700

10.75% onwards
a)      Where both, the salary is routed & undertaking letter is available

b)     Pensioners drawing pension through the branch

c)      When CIBIL score is less than 700

11.25% onwards
For Others 12.25% onwards
Corp Shubha Vivah For individuals including NRI/PIO in the age group of 21-65 years 12.25% onwards

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Eligibility Criteria

Corporation Bank offers personal loan schemes in a very simple and hassle-free way. Mentioned below are the key eligibility criteria to avail a personal loan from Corporation Bank:

  • You should be a permanent employee of Central / State Government offices, Public Limited Companies, profit-making Public Sector Undertakings, colleges, schools, research institutions, universities, pensioners drawing pension through the bank and individuals with income other than salary/pension.
  • You should be a permanent employee of reputed private companies/firms.
  • Your salary should be routed through Corporation Bank.
  • If you are not a part of the salaried class, you should be having regular dealings with the bank.

Additional Corporation Bank personal loan eligibility criteria for Corp Shubha Vivah applicants are:

  • Close relative/s may be co applicant to supplement repayment capacity.
  • Maximum of two co-applicants on a single loan application may be considered for arriving at repayment capacity.

Types of Corporation Bank Personal Loan

Type of Personal Loan Interest Rate
Corp Personal 10.75% onwards
Corp Shubha Vivah 12.25% onwards

Corp Personal: This type of personal loan offered by Corporation Bank can be availed to meet genuine personal expenses. Under this loan scheme, applicants can avail minimum loan amount of Rs.10,000 and maximum loan amount of up to Rs.3.50 lakh. Applicants are required to provide suitable co-applicant/third party guarantee as security to corporation bank to avail personal loan.

Corp Shubha Vivah: To meet the expenses related to marriage, Corp Shubha Vivah comes with various benefits for the applicants. With this scheme, applicants can avail loan which is permitted for the marriage of self, son, daughter and siblings only. Under this loan scheme, applicants can avail minimum loan amount of up to Rs.1 lakh and maximum of up to Rs.10 lakh.

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Documents Required for Loan Application

Mentioned below are the lists of documents required for loan application:

  • Address Proof & Age Proof of applicant (any one document): Aadhar, Voter Identification Card, PAN card, Passport, Ration Card or Driving License, etc.
  • Address & age proof of Co-applicant and guarantor (any one document): Voter Identification Card, PAN card, Passport, Ration Card or Driving License, etc.
  • 2 recent Passport size photographs (of both applicant and guarantor)
  • Last 6 months’ bank Account Statement from the existing salary account
  • Last 3 months’ Salary slip/Certificate duly attested with all details of deductions for outstanding loans, if any.

Fees and other Charges

The following are the key fees and charges apart from interest charges related to Corporation Bank Personal Loan:

Processing Fees Corp Personal- 1.50% of the loan amount subject to a minimum of Rs.500

Corp Shubha Vivah- 1% of the loan amount subject to maximum of Rs.5,000

Prepayment Charges Corp Personal- NIL

Corp Shubha Vivah- NIL

Penal Interest Rate 2% per month on outstanding principal calculated from payment due date

Corporation Bank Customer Care

Customers can contact the company’s customer care via any of the following means:

  • By Phone: You can call Corporation Bank on 0824-286-1447(chargeable)
  • Branch Visit: You can visit the nearby Corporation Bank branch to get your queries answered
  • Email: You can send an email on horls@corpbank.co.in detailing your query/grievance

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Avail Personal Loan For
All Your Needs

Avail Personal Loan Banner

FAQs

No, there would be no prepayment charges.

Corporation Bank allows re-application for a personal loan as long as 6 months or a longer period has passed since your previous application was rejected.

No. As a pensioner you are eligible to avail a personal loan from the bank only if you are drawing your pension from Corporation Bank.

Yes, you can avail a personal loan from Corporation Bank only if you are having regular dealings with the bank.

Applicants can avail personal loan for a minimum amount of Rs.10000 and maximum up to Rs.3.50 lakh.

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