Indian Bank Personal Loan - Eligibility & Documentation

• Any resident individual employed with Govt./Quasi -Govt./ Boards/ Endowments/ reputed companies/ Corporate Industrial Establishments etc can give personal loan requests to the bank.
• Minimum 3 years of work experience is a must requirement for personal loans from an Indian bank.
• Post deduction of proposed EMI, the applicant should be able to take away minimum 40% on the monthly take home salary.
• No history of any default in any previous credit relationship with any lender.

Documentation
The documents required to be submitted by an individual for availing the personal loans from Indian bank are:-
The Salary statement and the Income-tax return should be submitted by the individual for assessing the repaying capacity of the borrower so that accordingly the bank can grant loans to him. The individual is also required to pledge the NSC, KVP, relief bonds from RBI or LIC policy bonds if he is availing loans against them. Apart from these, the following need to be submitted;
 
Completed Application Form with 2 passport size photograph
Salary Certificate for self for 6 months IT returns/Form 16 for 3 years from the individual borrowers
Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License. 
Proof of residence such as Recent Telephone Bill/ Electricity Bill/ Property Tax Receipt/ Passport/ Voter`s ID 
Proof of Employment for salaried class
Salary slips for the last 6 months
Statement of account for the past 6 months
Post dated cheques to be obtained

Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.

Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.

A sudden requirement of funds is an unavoidable circumstance of business or personal life. Whether a personal necessity (hospitalization, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.
In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.

Running a business is not easy. You have to constantly think of ways and means to keep it going and growing. As a part of the growth plan, you require financing for expanding operations or to buy new equipment or inventory or simply increase the working capital. To help you with your financing needs we offer Business Loans that will help your business grow.