The eligibility criteria to avail a personal loan from Syndicate Bank vary based on the type of loan you have opted for. Mentioned below are the common eligibility criteria for unsecured loans:
- You should be a resident of India
- You should be at least 21 years old
- Your maximum age should be 70 years
- The applicant must be residing in any of the eligible cities
1. SyndConnect
Permanent employees of Central/State Governments/ Public Sector Units, Public Sector Undertakings including banks, financial institutions, LIC, etc. Defence establishments and other Government, Quasi-Government Institutions, Blue chip companies where salary is credited with Syndicate Bank.
2. SyndSenior
Pensioners in receipt of regular monthly pension from Central/ State Governments/Public Sector Undertakings/ Units, Defence establishments and other government or quasi government institutions whose pensions are being transferred to accounts held with Syndicate Bank.
3. SyndSaral
- Salaried Class
- Applicant must be a permanent employee of public/private company, school, college, university, research institute or any profit-making public limited company
- When salary is credited with Syndicate Bank does not exceeds 12 months of gross salary, there is no maximum ceiling for the amount of finance
- Maximum of Rs.4 lakhs gross salary will be financed not exceeding 12 months, where the salary is not routed through Syndicate Bank
- Not exceeding 12 Months Gross Salary with maximum of Rs 5.00 lakhs, where salary is not routed through Syndicate Bank account, but irrevocable letter is given by the employer
- Non-Salaried Class
- Applicants must be self-employed professionals such as doctors, engineers, architects, chartered accountants, other non-salaried class and self-employed business persons
- Maximum of Rs.5 lakhs for unsecured and Rs.20 lakhs for secured loan will be financed to non-salaried class
- 50% of Gross Annual Income, if latest ITAO is submitted or 100% of average Income if last 3 year ITAOs are submitted will be financed
- 75% of the value of the property, if Mortgage is offered as security whichever is less will be financed
