*Note: As of April 1, 2020, Syndicate Bank has been merged with Canara Bank and ceased to operate as a separate entity. New applicants who want to apply for personal loan have to do so as per guidelines of Canara Bank instead.
Overview
Syndicate Bank offers various personal loan schemes such as SyndConnect, SyndSenior and SyndSaral that offer loan amounts of up to Rs. 20 lakh. Syndicate Bank personal loan can be easily applied online and feature competitive interest rates with loan tenure of up to 60 months.
Syndicate Bank Personal Loan Documents Required
The documents required to apply for Syndicate Bank Personal Loan may differ as per the scheme you choose. However, the basic documents required to avail the personal loan are:
- Identity proof (any one document): PAN Card, Aadhaar Card, Passport, Voter ID Card, Driving License, etc.
- Address proof (any one document): Passport, Ration Card, Utility Bills (Electricity Bill, Phone Bill, etc.), Bank Account Statement, Sale Deed/Property purchase agreement (for owned properties), Aadhaar Card, etc.
- Income proof: Last 3 months/6 months’ bank statement (dependent on scheme) showing salary credits, Latest Salary Slip, ITR, etc.
Things to Consider Before Applying for a Personal Loan
- Credit score: Credit score is a reflection of your repayment history and is one of the most important factors considered by the lenders. Therefore, check your credit score before applying for a personal loan and apply only when you have a healthy score
- Repayment ability: Borrow a loan amount that you can easily repay without falling in the debt trap. To know your repayment ability, make a list of other EMIs and expenses and evaluate your debt-to-income ratio and then buy a loan amount accordingly
- Calculate your EMIs: Before you apply for a specific loan amount, take help of Paisabazaar’s Personal loan EMI Calculator and know the EMIs that you would be paying each month for that loan amount. This will again stop you from buying more than you can repay
- Compare and apply: You must also compare interest rate, loan amount and other fees and charges offered by various lenders on a personal loan and choose the one that suits your requirement at its best
FAQs
Q1. How do I get in touch with the Syndicate Bank Customer Care?
- You can call on 080-22260281
- NRIs can call on (+91) 022-2218 9606 / 022-2218 1780
- You can send an email on syndcare@syndicatebank.co.in
- NRIs can send an email on nrd@syndicatebank.co.in
Q2. Where can I locate the nearest branch of Syndicate Bank?
You can locate the nearest branch of Syndicate Bank using the branch locator tool on the Syndicate Bank official website.
Q3, What is the interest rate of Syndicate Bank Personal Loan?
| Type of Personal Loan | Interest Rate (p.a.) |
| SyndConnect | 12.00% to 12.30% |
| SyndSenior | 11.95% to 12.15% |
| SyndSaral | 12.00% onwards |
Q4. How can I repay Syndicate Bank Personal Loan?
You can repay Syndicate Bank Personal Loan through ECS (electronic clearing system) mandate or through post-dated cheques.
Q5. How do I log in to the internet banking of Syndicate Bank?
To login to the internet banking of Syndicate Bank, go to the Synd Connect website. There you need to enter your user name and password then click on ‘Login’.