Corporation Bank personal loan that is also known as Corp Personal Scheme is offered to meet personal financial needs of any individual including a wedding, higher education, medical expenses, home renovation, vacation, etc. All the salaried professional, self- employed individuals and pensioners who meet the eligibility criteria can apply for this loan both online and offline and can avail up to Rs. 3.50 lakh.
Corporation Bank Personal Loan - Features and Benefits
- Loan amount: Starting from 0.10 lakh, the amount of Corp Personal Scheme by Corporation Bank goes up to Rs. 3.50 lakh
- Flexible repayment: You can repay your Corporation Bank personal loan by 60 months. You get the option of choosing the desired tenure as per your repayment ability
- Quick application: The personal loan can be applied online from the comfort of your home or office. This way, you save a lot of time and effort of visiting the bank’s branch
- Minimum documentation: Applying for Corporation Bank Personal Loan requires minimum documents for a hassle free and quick processing of your loan application
Corporation Bank Personal Loan - Interest Rate and Fees
|Interest Rate||12.95% to 13.95%|
|Processing Fees||1.50 of the loan amount|
Corporation Bank Personal Loan - Eligibility Criteria
- 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
Corporation Bank Personal Loan - Documents Required
- Address Proof & Age Proof of applicant (any one document): Aadhar Card, 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 month bank Account Statement from the existing salary account
- Last 3 months Salary slip/Certificate duly attested with all details deductions for other loans, if any
Corporation Bank Personal Loan - EMI Calculator
It is recommended to calculate your EMIs before applying for Corporation Bank personal loan as you get an idea of how much money would you be consuming every month to repay the loan and will also be able to plan your expenses accordingly. Paisabazaar.com offers you a Personal Loan EMI calculator that helps you find EMI (Equated Monthly Instalments) as per your eligibility. To know your EMI scroll the bar to the desired:
- Loan amount
- Interest rate
Compare Corporation Bank Personal Loan VS Other Lenders
|Particulars||Corporation Bank||Yes Bank||HDFC Bank||Citi Bank||Axis Bank||ICICI Bank||Bajaj Finserv|
|Interest Rate||12.95% to 13.95%||Starting from 10.75%||11.25% to 21.50%||Starting from 10.99%||15.75% to 24%||11.50% to 19.25%||Starting from 12.99%|
|Tenure||Upto 60 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months|
|Loan amount||Upto 3.50 lakh||Upto Rs. 40 lakh||Upto Rs. 40 lakh||Upto Rs. 30 lakh||Rs. 50,000 to Rs. 15 lakh||Upto Rs. 20 lakh||Upto Rs. 25 lakh|
|Processing Fee||Upto 1.50% of the loan amount||Up to 2.50% of the loan amount plus GST||Upto 2.50% of the loan amount||Upto 3% of the loan amount||2% of loan amount plus GST||Upto 2.25% of loan amount plus GST||Up to 3.99% of the loan amount|
|Apply Now||Apply Now||Apply Now||Apply Now||Apply Now||Apply Now||Apply Now|
Would there be any prepayment charges if I wish to prepay Corporation Bank Personal Loan?
No, there would be no prepayment charges.
Is it possible to apply for Corporation Bank Personal Loan again if my application gets rejected?
There might be a possibility of reapplying. You will have to contact the bank for the same.
If I am not drawing the pension through Corporation Bank, is it possible for me to avail a personal loan?
No, you can only avail a personal loan from Corporation Bank if you are drawing your pension from the bank.
I am a self-employed individual. Can I avail Corporation Bank Personal Loan?
Yes, you can avail a personal loan from Corporation Bank only if you are having regular dealings with the bank.