If you are struggling to meet your personal expenses including a vacation, medical emergency, home renovation, higher education or any other expense, Corporation Bank Personal Loan is the right choice for you. Offering a personal loan upto Rs. 3.50 lakh, Corporation Bank makes sure that you get the preferred amount with minimum interest rate and flexible tenure.
Corporation Bank Personal Loan - EMI Calculator
You can quickly check Corporation Bank Personal Loan EMI by using Paisabazaar’s EMI calculator, which is an easy to use online tool. Simply move the slider to the desired loan amount, tenure and rate of interest and get to know about the monthly EMI within seconds. If you get to know the EMIs before availing a loan, you will not borrow more than you can repay and will also be able to plan your future expenses accordingly. The following table helps you to understand how a personal loan EMI calculator works:
|Loan Amount||Rate of Interest||Loan Tenure||EMI|
|Rs. 19,000||13%||40 months||Rs. 587|
|Rs. 73,000||13.125%||42 months||Rs. 2,177|
|Rs. 1,28,000||13.125%||44 months||Rs. 3,680|
|Rs. 2,37,000||13.25%||48 months||Rs. 6,387|
|Rs. 3,19,000||13.625%||48 months||Rs. 8,657|
|Rs. 3,46,000||13.75%||50 months||Rs. 9,129|
|Rs. 3,50,000||13.875%||50 months||Rs. 9,256|
What are the Benefits of Using EMI Calculator?
- It is easy to calculate your EMIs on personal loan EMI calculator as all you need to do is select the desired loan amount, tenure and interest rate
- Manual calculation might be time consuming, but the online EMI calculator lets you know about the EMIs within seconds
- If you calculate manually, you might get inaccurate numbers due to the complex calculation process. But, if you calculate online, you will get the exact numbers
Corporation Bank Personal Loan - Featured and Benefits
- Loan amount: A minimum loan amount of Rs.10,000 and maximum loan amount of Rs.3.5 lakh can be availed if you apply for Corporation Bank personal loan
- Loan payment tenure: A flexible tenure of 36 months to 60 months is offered to individuals for easy repayment and no inconvenience
- Minimum documents: The documentation process is very less and only requires the applicant to submit the necessary KYC documents like identity proof, address proof and proof of income
- Quick processing: The process to apply for Corporation Bank Personal Loan is easy and ensures quick disbursal of loan amount
Corporation Bank Personal Loan - Interest Rate
Corporation Bank’s interest rate depends on RBI’s MCLR, which is the minimum interest rate at which banks are allowed to lend money. Most banks use it as a base rate and charge a little bit extra on top of that; Corporation does that too. The overall interest rate will differ based on the financial history, credit score, age, employer, etc of the applicant. A one-time processing fee is also charged and is deducted from the first loan amount disbursed to the applicant’s account. Other details regarding interest rates and fees are:
|Interest rate||Minimum: 12.90%||Maximum: 13.90%|
Corporation Bank Personal Loan - Eligibility Criteria
- Permanent employees of Central / State Government offices, profit-making Public Sector Undertakings, Public Limited Companies, Schools, Colleges, Universities, Research Institutions, Pensioners drawing pension through our Bank and individuals with income other than salary / pension
- Permanent employees of reputed Private Companies/Firms are also eligible
- Employees whose salary is routed through the Branch
- Pensioners drawing pension through the branch
- Other than salaried class having regular dealings with the branch
Frequently Asked Questions
Ques: How do I find out the nearest branch of Corporation Bank?
Ans: You can find out the nearest branch of Corporation Bank here.
Ques: What are the components of Paisabazaar EMI calculator?
Ans: There are three components of Paisabazaar EMI calculator and they are:
- Loan amount
- Rate of interest
Ques: Is it possible to reschedule my EMI date?
Ans: You will have to contact Corporation Bank customer care regarding this query.
Ques: What is the minimum personal loan amount offered by Corporation Bank?
Ans: The minimum personal loan amount offered by Corporation bank is Rs. 10,000.