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Indian Bank Personal Loan

Indian Bank offers personal loans @ 9.00% p.a. onwards for tenures of up to 7 years. It also provides personal loans to pensioners @ 10.65% p.a. onwards for tenures of up to 10 years.

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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 Fee₹ 6,500
Axis Bank
Low Processing fee
Max. Loan Amt.Upto ₹40L
Rate of Interest9.99% - 17.15%
Tenure upto1-5 Years
Processing Fee1% - 1.5%
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

About Indian Bank Personal Loan

  • Interest rate- 9.00%-15.25% p.a.
  • Loan Amount-
    • Up to 20 times of monthly gross salary (for salaried applicants)
    • Up to 15 times of monthly pension (for pensioners)
  • Loan Tenure-
    • Up to 7 years (for salaried applicants)
    • Up to 10 years (for pensioners)
  • Processing Fees- Up to 1% of the loan amount

Indian Bank Personal Loan Interest Rates

Indian Bank Personal Loan interest rates start from 9.00% p.a. The bank has mentioned its interest rate differentiation based on the type of Indian Bank Personal Loan scheme, employment profile and loan tenure. While the bank has not disclosed the credit score or monthly income based interest rate differentiation, Indian Bank may also consider these factors, just like many lenders do, while setting its personal loan interest rates.

Floating Rates

Clean Loan 

Classification Rate of Interest (p.a.)
Non-Priority Term Loan for GMRA Premium 9.00% to 9.15%
IB Saral 9.60%
IB Professional 9.25%-9.50%
IB Insta Cash 9.25%

Salary Loan & IBCLS Plus

Classification Rate of Interest (p.a.)
Clean Loan to Salaried Class – Term Loan 9.90% to 10.40%
Clean Loan to Salaried Class – Overdraft 10.90% to 11.40%

Pension Loan

Product Rate of Interest (p.a.)
Pension Loan 10.15% to 10.40%

Pre-approved Personal Loan

Applicant Type Rate of Interest (p.a.)
Pensioners, Salaried & Regular Income Applicants 11.40%
Self-employed Applicants 12.00% to 14.00%
Home Loan customers 10.00%

Fixed Rates

Clean Loan 

Classification Rate of Interest (p.a.)
Non-Priority Term Loan for GMRA Premium 10.25%-10.40%
IB Saral 10.85%
IB Professional 10.50%-10.75%
IB Insta Cash 10.50%

Salary Loan & IBCLS Plus

Classification Rate of Interest (p.a.)
Clean Loan to Salaried Class – Term Loan 11.15%-11.65%
Clean Loan to Salaried Class – Overdraft 12.15%-12.65%

Pension Loan

Product Rate of Interest (p.a.)
Pension Loan 11.40%-11.65%

Pre-approved Personal Loan

Applicant Type Rate of Interest (p.a.)
Pensioners, Salaried & Regular Income Applicants 12.65%
Self-employed Applicants 13.25%-15.25%
Home Loan Customers 11.25%

Types of Indian Bank Personal Loan

IB Clean Loan to Salaried

Purpose: Regular personal loan scheme for meeting medical, educational, marriage, family functions and other household expenses of individuals employed in government sectors or private salaried borrowers (other than speculative purposes)

Loan Amount:

  • No check-off/undertaking available and salary credited in Indian Bank- Up to 20 times of monthly gross salary. The maximum limit is capped at Rs 50 lakhs.
  • Check-off/undertaking available and salary may or may not be credited in Indian Bank- Up to 20 times of monthly gross salary
  • Home loan is already availed by the customer and salary is credited in the Indian Bank- Up to 20 times of monthly gross salary

Tenure: Up to 7 years (loan closure 3 months prior to superannuation)

Overdraft:

  • No check-off/undertaking available and salary credited in Indian Bank-
    • The overdraft limit is equal to 1 month’s gross salary of the applicant subject to a maximum of Rs 2 lakhs
    • The limit is for a tenure of 1 year
    • The maximum limit is up to Rs 50 lakhs
  • Check-off/undertaking available and salary may or may not be credited in Indian Bank (or) Home loan is already availed by the customer and salary is credited in the Indian Bank
    • For limits up to Rs 5 lakhs – Maximum 5 years
    • For limits above Rs 5 lakhs – Maximum 7 years

Processing Fee: 1% on the loan amount

IB Pension Loan Scheme

Purpose: Pension loan offered to pensioners/family pensioners for meeting their various financial requirements like marriage, education, family functions, medical, etc.

Loan Amount:

  • For Regular Pensioners: Up to 18 times of pension credited monthly
  • For Family Pensioners: Up to 12 times of pension credited monthly

Tenure: Up to 10 years with respect to the exit age criteria

Processing Fee:

  • Up to Rs 25,000- NIL
  • Up to Rs 25,000- Rs 250

IB Professional

Purpose: Indian Bank offers personal loan to professionals for personal purposes such as household articles, setting up or renovation of office, to celebrate family functions, purchase of consumer durables and other personal/household expenses etc.

Loan Amount:

The maximum loan amount is to be lower of the following

  • 2.50 times of lowest Gross Annual Income during the last 2 years
  • Rs 30 lakhs

Tenure: Maximum 84 equated monthly instalment

IB Insta Cash – Overdraft Facility in Savings Bank Salary Account

Purpose: Indian Bank offers overdraft facility in savings accounts to employees of eligible organisations whose salaries are credited in a savings bank account maintained with Indian Bank

Loan Amount:

The maximum loan amount is to be lower of the following

  • Minimum overdraft amount – Rs 25,000
  • Maximum overdraft amount – Rs 2 lakhs or 2 month’s salary, whichever is lesser
  • Minimum NTHP (after servicing interest of the overdraft facility) should be 40%

Tenure: The overdraft facility is available for a period of 1 year

Indian Bank Personal Loan Fees & Charges

Types Processing Charges
IB Pension Loan Scheme Up to Rs 25,000- NIL

Above Rs 25,000- Rs 250
IB Clean Loan to Salaried 1.00% on the loan amount
IND Covid Emergency Pension Loan NIL
IND Covid Emergency Salary Loan NIL

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Eligibility Criteria for Indian Bank Personal Loan

IB Pension Loan Scheme

  • State and Central government pensioners, family pensioners, re-employed pensioners, IB retirees (both under superannuation and VRS)
  • EPF pensioners and CRS retirees are not eligible
  • Age Requirement:
    • For regular pensioners: Entry age- Up to 75 years Exit age- Up to 78 years
    • For family pensioners: Entry age- Up to 72 years Exit age- Up to 75 years
    • No minimum entry age

IB Clean Loan to Salaried

  • Permanent employees with government/ quasi-government/ reputed companies/ endowments/ corporate industrial establishments with an experience of at least 2 years
  • Reputed Private Sectors:Large MNCs/Corporates with turnover above Rs 100 crores The employer is externally rated as “A” and above (not more than 12 months old as per current rating)
  • Minimum Entry Age: 21 years
  • Minimum CIBIL score should be 700

IB Professional

  • All professionals including Architects, Chartered Accountants, Company Secretaries, Cost Accountants, Doctors, Engineers, Designers, Management/ Financial Consultants, etc. are eligibile
  • Applicant should have a work experience of a minimum 2 years with valid membership or license holder or degree and major part of their income is through profession
  • Age: Minimum – 21 years; Maximum – 70 years

IB Insta Cash

  • Eligible applicants: Regular Employees of government or state government/Listed Companies/PSUs/ Autonomous Bodies whose salaries are credited in Indian Bank savings accounts
  • The salary credits are received for at least the past 1 month and the minimum monthly salary credited to the account is Rs 25,000
  • Other organisations or Institutions having more than 50 salary accounts with Indian Bank are also eligible for overdraft facility

Documents Required for Availing Indian Bank Personal Loan

IB Clean Loan to Salaried

  • Income proof (attested by the employer)- Salary slips for last 6 months with tax deductions/ Form 16
  • PAN Card (mandatory document)
  • Form 16/ ITR
  • Employment Proof – ID card given by the employer, copy of employment order, employee number
  • KYC documents – Aadhar card/ ration card/ Driving license/ Voter ID
  • Authorization to debit the EMI from SB account/ NACH mandate/ ECS

IB Pension Loan Scheme

  • PPO portion of the pensioner
  • Intimation to PPA
  • Authorization for recovering the EMI from the savings bank account where the pension is credited
  • A suitable guarantor as per the bank’s acceptance criteria

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

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FAQs

Indian Bank approves personal loan applications made by those having credit scores of 700 & above.

Most banks/NBFCs take 2-7 days to disburse pa ersonal loan from the date of making personal loan application.

No, Indian Bank does not provide pre-approved personal loans to select customers.

Although, Indian Bank has not mentioned any specific minimum salary requirement, the applicants with a minimum monthly income of Rs 15,000 would be able to avail personal loan from Indian Bank.

No, there are no restrictions on the prepayment of Indian Bank Personal Loan. The prepayment charges are NIL for the applicants availing personal loan from Indian Bank.

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Last updated: 29 August, 2025

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