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Personal Loan is offered by Indian Bank to salaried individuals as well as pensioners to meet their personal expenses such as medical bills, higher education, purchase of gadgets, etc. 

The rate of interest for Indian Bank Personal Loan starts from as low as 9.05% per annum with a maximum repayment tenure of up to 84 months.

Indian Bank Personal Loan Highlights

Particulars Details
Interest Rate 9.05% per annum onwards
Loan Amount According to applicant profile
Loan Tenure Up To 84 Months
Processing Fee Up to 1% of Loan Amount
Types of Loans Clean Loan and Pension Loan

Indian Bank Personal Loan Features & Benefits

1. Flexible Tenure : The repayment tenure of Indian Bank Personal Loan is flexible ranging from 1 Year to 7 Years.

2. Less Documentation : Indian Bank Personal Loan requires very little documentation from the customers, thus making the application process easy and a quick one.

3. Loan Amount : Indian Bank provides personal loans not only to salaried and self-employed individuals but also to pensioners to fulfill the requirement of finance for personal needs.

4. Online Application : Indian Bank personal loan is very easy to apply online, as you don't need to go to the bank for this process. You can apply online from your Personal or office.
Once your application form is submitted online your loan is approved immediately.

Indian Bank  Personal Loan Interest Rates 

Indian Bank Personal Loan Scheme Interest Rates
Pension Loan 10.50% Onwards
Clean Loan (to Salaried) 9.05% Onwards

Indian Bank Personal Loan Schemes Or Types

1. Indian Bank Pension Loan

Indian Bank Pension Loan is offered to pensioners and family pensioners in order to help them fulfill their financial needs such as funds for child’s marriage, buy a dream home, medical aid, and much more.

Eligibility Profiles Pensioners
Interest Rate 10.50% Onwards
Loan Tenure Up to 60 Months(for regular pensioner)
Up to 36 Months(for family pensioner)

2. Indian Budget Loan

Budget Loan provided by Indian Bank is offered to salaried individuals and professionals in order to meet one-time expenses, without disturbing your planned budget.

Eligibility Profiles Salaried individuals and professionals
Interest Rate 9.05% Onwards
Loan Tenure Up to 84 Months

Indian Bank Personal Loan Fees and Charges

The following are the key fees and charges other than interest charges applicable to a personal loan from Indian Bank:

Processing Fees Amount
Indian Bank Pension Loan Rs.0 for loans up to Rs. 25,000. Rs. 255/- for loans above Rs. 25,000/
Indian Bank Clean Loan 0.512% of the loan amount subject to a minimum of Rs. 512

Indian Bank Personal Loan Eligibility Criteria

In order to avail Indian Bank Personal loan, an individual has to meet certain eligibility criteria put up by the bank.

Minimum Age 21 Years 
Maximum Age 58 Years
Minimum Income Rs. 20,000 per month
Nationality Indian
Employment type Salaried persons working in government, private, or MNCs companies, and Pensioners

Documents Required to get Indian Bank Personal Loan

In order to avail Indian Bank Personal loan, an individual has to provide certain documents required by the bank.

ID Proof
  • Aadhar Card
  • PAN Card
  • Driving License
  • Voter’s ID Card
  • Employment ID
Address Proof
  • Aadhar Card
  • PAN Card
  • Driving License
  • Voter’s ID Card
  • Employment ID
  • Rental Agreement
Employment Proof
  • Copy of Employment order
  • Employee number
  • Photo ID Card issued by employer
Income Proof For Salaried
  • 3 months salary slips
  • Last 2 years ITR or FORM 16
  • Bank Statement for last 2 years


AXIS Bank Personal Loan 12% to 24%
SBI Personal Loan 11.30% to 16.40%
SBI Xpress Bandhan 12.15% to 15.15%
SBI Xpress Credit Personal Loan 11.50% to 12%
HDFC Bank Personal loan 10.75% to 21.50%
Kotak Mahindra Bank Personal Loan 10.50% to 16.99%
Yes Bank Personal Loan 20.00% to 22.00%
Citi Bank Personal Loan 10.50% to 17.99%
ICICI Bank Personal Loan 10.99% to 16.25%
Standard Chartered Bank Personal Loan 11.00% to 19.20%
IDBI Bank Personal Loan 12.00% to 14.00%
RBL Bank Personal Loan 14.00% to 23.00%
HSBC Bank Personal Loan 10.75% to 17.84%
IndusInd Bank Personal Loan 11.00% to 16.75%
Bank of Baroda Personal Loan 7.65% to 12.65%
Bank of India Personal Loan 12.15% to 14.15%
Canara Bank Personal Loan 12.05% onwards

Indian Bank & Personal Loan EMI Calculator

A Personal loan calculator helps you to know the amount of EMIs that you need to pay towards your Personal Loan. 

As a Personal loan can go from 20 - 30 years, so you have to be aware of your monthly installments in advance. For that, you can use the EMI Calculator provided by BankSathi to calculate your monthly EMIs on your Personal Loan.

The formula for the same is:
[P x R x (1+R)^N]/[(1+R)^N-1], where

  • P stands for the ‘Principal Amount’.
  • R stands for the rate of interest set by the bank.
  • N is the number of years for which the loan has been taken.

How to Apply for Indian Bank Personal Loan Online?

  • Visit the official website of Indian Bank
  • Click on ‘Links’ and select ‘Online Services.
  • Click on ‘Loan Application Status’ under ‘Online Services.
  • Enter the reference number and password and enter the captcha code as shown in the image to know the status of your loan application.

Indian Bank Personal Loan Customer Care

1800-425-00-000 or 1800-425-4422

FAQs On Indian Bank Personal Loan

Q.1 What is the maximum entry-level and exit level age of a pensioner at the time of applying for an IB personal loan?

The maximum age of a family pensioner can be 75 years and 78 years at the time of exit level.

Q.2 Is collateral required to avail a personal loan from Indian Bank?

No collateral is not required to avail of a personal loan from Indian Bank.
Q.3 What is the maximum entry-level and exit level age of a family pensioner at the time of applying for an IB personal loan?

The maximum age of a family pensioner can be 70 years at the time of loan application while the exit age at the time of loan maturity can be a maximum of 73 years.

Q.4 What are the minimum and maximum tenure of personal loans in Indian bank?

The tenure of a personal loan in an Indian bank is a minimum of 12 months and a maximum of 84 months.
Q.5 Do I have to be an account holder with an Indian bank to apply for a personal loan?

No, it is not mandatory to have an account if you are planning to apply for Indian Bank Clean Loan. However, if you want to apply for Indian Bank Pension Loan, then you need to have a Pension Savings account with the bank.

Last Updated on : 25/Mar/2021

Know More About

Indian Bank Personal Loan

You're eligible for a Indian Bank Personal Loan if you:

Are legally adult enough to handle it

Have still got it

Get a regular pay check

Make more than a basic buck

Your eligibility depends on:

Earn more than minimum income required

Maximum allowed Personal Loans is Rs. 10K to Rs. 45 lakhs

EMIs of other loans loweryour eligibility

Boost your eligibility by:

Pay off your credit card bills

Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Indian Bank Personal Loan Interest Rates

Updated on 25 Nov 2017

Indian Bank Personal Loan Details
Interest Rate (Monthly reducing balance) 10.35% - 0%
Processing Fees 0.51%
Loan Tenure 1 year to 3 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Personal Loans EMI Calculator

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