हिंदी में पढ़े
Disclaimer: Indian Bank is not a Paisabazaar partner and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Indian Bank for personal loans. No offers/services from Indian Bank are being provided by Paisabazaar for personal loans. For further information about Indian Bank for personal loans, users are required to reach out directly to Indian Bank.
| Indian Bank Personal Loan Highlights | |
| Interest rate | 10.00%-15.25 p.a. |
| Loan Amount | Up to 20 times of monthly gross salary (salaried) Up to 15 times of monthly pension (pensioners) |
| Loan Tenure | Up to 7 years (salaried) Up to 10 years (pensioners) |
Apply for Personal Loan Online
Paisabazaar has tied-up with 30+ banks and NBFCs to offer personal loan . Applicants can compare the interest rates and other features offered by our below-mentioned partner banks and NBFCs and can then apply accordingly as per their preference.
HDFC Bank
Up to ₹40L
10.85% - 24%
Upto 6 Years
₹6,500
Axis Bank
Up to ₹10L
11.25% - 22%
Upto 5 Years
Upto 2%
Kotak Mahindra Bank
Up to ₹40L
10.99% - 36%
Upto 6 Years
Upto 3%
IDFC First Bank
Up to ₹10L
10.99% - 23.99%
Upto 5 Years
Upto 2%
ICICI Bank
Up to ₹50L
10.85% - 16.25%
1-6 Years
Upto 2%
*Applicable for selected customers
Note: Rates as of 18th December 2024
Table of Contents
Indian Bank Personal Loan Interest Rates
Indian Bank Personal Loan interest rates start from 10.00% 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 | 10.00% to 10.15% |
| IB Saral | 10.60% |
| IB Professional | 10.25%-10.50% |
| IB Insta Cash | 10.25% |
Salary Loan & IBCLS Plus
| Classification | Rate of Interest (p.a.) |
| Clean Loan to Salaried Class – Term Loan | 10.90% to 11.40% |
| Clean Loan to Salaried Class – Overdraft | 11.90% to 12.40% |
Pension Loan
| Product | Rate of Interest (p.a.) |
| Pension Loan | 11.15% to 11.40% |
Pre-approved Personal Loan
| Applicant Type | Rate of Interest (p.a.) |
| Pensioners, Salaried & Regular Income Applicants | 12.40% |
| Self-employed Applicants | 13.00% to 15.00% |
| Home Loan customers | 11.00% |
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
- 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)
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 15 times of pension credited monthly
- No cap on minimum and maximum loan amount
- For Family Pensioners: Up to 12 times of pension credited monthly subject to loan amount up to Rs 2 lakhs
- No cap on minimum loan amount
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
Know more about personal loan for salaried individuals
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 |
Also check the processing fee for personal loan charged by other lenders
Apply for Personal Loan with Quick Disbursal Click Here
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: For regular pensioners: Entry age- Up to 75 years Exit age- Up to 78 years
For family pensioners: Entry age- Up to 70 years Exit age- Up to 73 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
Also check personal loan eligibility set by other lenders
Check Your Free Credit Score to know personal loan eligibility Check Now
Documents Required
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
EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Apply for Personal Loan with Quick Disbursal Click Here
FAQs on Indian Bank Personal Loan
What is the credit score to avail personal loan at Indian Bank?
Ans. Indian Bank approves personal loans applications made by those having credit scores of 700 & above. However, there are some lenders who sanction personal loans to those having lower credit score. Applicants with credit scores of below 700.
What is the turnaround time for disbursal of Indian Bank Personal Loan?
Ans. Most banks/NBFCs take 2-7 days to disburse personal loan from the date of making personal loan application.
Does Indian Bank provide pre-approved personal loan to select customers?
Ans. No, Indian Bank does not provide pre-approved personal loans to select customers.
What is the minimum salary requirement to avail personal loan from Indian Bank?
Ans. 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.
Is there any restriction on the prepayment of Indian Bank Personal Loan?
Ans. 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.