Loan Application

Syndicate Bank Personal Loan - Eligibility & Documentation

Eligibility

Eligibility of personal loan in Syndicate relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are

Age: Age plays an important role to know your eligibility and repayment capacity. Syndicate offers personal loan to salaried individuals who are at least 21 years old at the time of loan approval and maximum 58 years at the time of loan maturity.

Income: personal Loan calculator calculates your eligibility based upon your income. Usually bank set minimum levels of income to apply for personal loan. Syndicate Bank asks for net monthly income of minimum Rs. 20,000.

Job stability and Profession: Job stability is important to improve your status and eligibility for personal loan from Syndicate Bank. In case you are salaried, you must be in a full time job for at least 0 months of which not less 0 month must be with your current company. If you are working with a reputed company, probability of getting personal loan from Syndicate Bank increases as the income is considered to be more stable and bank offers low interest personal loan to the employees of reputed companies.

CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your personal loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your personal loan eligibility.

Loan Amount: Syndicate Bank gives you personal loan depending upon your income. Syndicate Bank gives you an amount ranging from Rs. 50,000 to Rs. 200,000. To improve chances of approval, apply for a loan amount that you can comfortably service.

Documents

Filled up loan application form

Passport Size Photo

Income Tax PAN Copy

Identity Proof - Driving License/ PAN/ Passport/ Voter ID

Residential Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill (upto 3 months old)

Income Documents - 2 years Form 16, 3 month pay slip, 3 months bank statement showing salary credit and any EMI debit

 
Loan Application

 

It is a type of unsecured loan and helps to meet your current financial needs. You don't need any security/collateral while availing it. Personal Loan is your solution for instant cash and can be used for travelling, wedding, medical emergency, home renovation, or anything else.

 

Home Loan is a Secured loan offered against the security of a house/property which is funded by the banks and NBFCs the property could be a personal property or a commercial one. Home loans consist of an adjustable or fixed interest rate and payment terms.

 

Loan Against Property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. Banks and financial institutions offer this LAP, which can either be a residential/commercial building or a piece of land.

 

A Business Loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. Banks and other financial institutions are there to provide you with suitable lending assistance.

Different Purposes for Personal Loan through LoanMoney

Marriages are made in heaven and its celebration is one of the happiest and memorable events for married couples and their families. Wedding loan is available to people looking to meet their wedding expenses in order to make the wedding a grand success.
Debt consolidation/ Financial Restructuring is a process to streamline one’s financial stability and debt. Thus by consolidating many small debts with one debt, one gets favourable payment off terms and lower burden of EMI.
Home is the place where your story generates. Home Renovation Loans are designed for the purpose of renovating a house and can be taken by a person who owns the property to be renovated.
A Medical Loan is extended by a bank or a financial institution under the category of personal loans. A medical loan can be used for multiple emergency purposes such as an operation, surgery, procedure, therapy or for any concern related to health.
The Education Loanaims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. Students enrolled in career-oriented courses e.g. medicine, engineering, management etc, can avail this.
Balance transfer is the process where a customer transfers his outstanding principal amount to another bank or financial institute primarily for a better rate of interest and also for better features. Balance transfer reduces your interest rates and finally ensure saving.
Travel loan is a kind of Personal Loan that you can apply while planning a travel. It can help to cover the costs associated with your holiday, such as airfares, accommodation, hotel fares, tour packages, travel gears/accessories, or any other type of expenses associated with your travel.
The Credit Card Payment Loan is designed to allow you to take control of your finances and pay your credit cards off faster. This is made possible by consolidating your high-interest card balances into one monthly payment at a fixed rate and term.

Disclaimer: LoanMoney is not a Loan Providing Organization. We are facilitating the Loan Process from various Banks & NBFC. The rate, eligibility criteria, term & conditions of various banks are subject to change as per bank discretion. We try our best to keep the data up-to-date, but we can't guarantee the accuracy of data provided in this site. LoanMoney help you to embark on your dream at the right time with many Banks/NBFC's Loan opportunities available! Follow a few simple steps to help LoanMoney team understand your requirements.

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