Indian Bank Loans

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Indian Bank loans are competitive financial packages designed with the customer's needs in mind. The bank grants loans for education, home, and business. Indian Bank personal loans are also available. All loans given are in accordance with Reserve Bank of India (RBI) guidelines.

Indian Bank loans can be divided into the following categories:
  • Consumer Loan: The loan is open to persons working in professional fields, salaried class, and self-employed. The maximum amount available is INR 50,000. Interest rate is 12.5% per year. Margin of the bank is 20%.

  • Home Loan: Indian Bank home loans can be used for the purchase of a flat or house. Construction costs are also covered. Loan amount given is approximately 60 times the net monthly income or 36 times the gross monthly income. Costs of repairing of house may also be considered for a loan.

  • Educational Loan: Indian Bank educational loans are applicable to students within 30 years of age. Cost of education, like college fees and travel expenses, are allowed. Diploma, Graduation and Post-Graduation courses are covered under this facility. Maximum loan given is INR 10,00,000 for studies in India and INR 20,00,000 for studies abroad. Insurance premium is given for the student borrower.

  • Vehicle Loan: Margin money is 15%. Both new and pre-owned vehicles can be purchased. Maximum loan amount given is INR 7,50,000.

  • Loan for Salaried Class: Persons with permanent employment are eligible. Interest rate is fixed at 14%. Maximum amount is INR 1,00,000.

  • Agricultural Loan Schemes: Structured loans and loans for purchasing farm equipment are available.

  • IndSmart: Only for Indian civil service personnel. Rate of interest is 12% floating.

  • IB RentenCash: Targeted towards commercial and residential building owners who wish to hire their property for commercial usage. Maximum loan amount is INR 100,00,000.

  • Professional Loan: Open to qualified professionals like architects, caterers, and chartered accountants. Interest rate is 12% floating.