Corporation Bank Personal Loan

Why Corporation Bank Personal Loan?

Corporation Bank is a public-sector bank that is headquartered in Mangalore, India. Pan-Indian is the bank’s presence. The bank has a network of 2,600 fully automated CBS branches, 3,040 ATMs, and 4,724 branches across the country. 

Nowadays, the style of living is changing drastically, so does the expenses and the thought process of people. Many consumers are taking Personal loans for their purchases, especially the big-ticket ones. Even, they are also converting their purchases into equated monthly installments (EMIs). It helps the households to meet any shortfall they experience in buying a house or a car, in children’s higher education, or even in cases of medical emergencies, among other things.

It is an unsecured loan where people need not mortgage any of their assets. Furthermore, according to the repayment capabilities Personal Loan is approve. Here you need to match the specific criteria provided by Non Banking Financial Companies, and you can avail a loan within 24 hours.

Corporation Bank Personal Loan Eligibility Criteria

It depends upon several measures such as Credit Score, payback capabilities, pay slip, etc. There are two categories:-

Salaried Applicant

  1.  Firstly, the minimum age of a person should be 21 years and maximum up to 60 years.
  2. Secondly, a person from the metropolitan city should have a minimum income of Rs 18,000, and for the non-metropolitan city, the minimum salary should be Rs 12,000.
  3.  After that, a person must have three years of work experience, and the salary should be received in their account only.
  4. Furthermore, a person applying for the Personal Loan must have a good credit history.
  5. Lastly, a person has to submit his bank statement for the last three months and salary slip of the previous six months.

Self Employed Applicant

  1. The age of a person must be 25 years.
  2. A person applying for a Personal Loan should file Income Tax Return for the last three years.
  3. A credit score of a person should be up to the mark that is 650 and above.
  4. The minimum amount should be of Rs 2.5 lakhs per annum at least.
  5. If a person is a businessman than his business should be running from last three years.
  6. The person has to submit his financials and his bank statement of the previous three months.

Corporation Bank Personal loan Features

  1. Minimal paperwork is required.
  2. Guidance throughout the process, making the process hassle-free.
  3. Flexible repayment options are available.
  4. Apply online and get quick approval.
  5. Disbursal of Loan is available within 72 hours after the submission.
  6. Help you to enhance your Credit Score.
  7. No guarantor is needed.
  8. A person can borrow money by using a top-up facility for existing users.

Corporation Bank Personal Loan Documents

  1. Photo identity proof need is (Self-attested copy of any 1 of these documents) Pan Card / Passport / Voter Identity Card / Driving License / Aadhaar Card.
  2. Address Proof (Self-attested copy of any 1 of these documents) Passport / Ration Card / Bank Account Statement / Aadhaar Card / Driving License /Electricity Bill / Telephone Bill Sale Deed/Property purchase agreement (for owned properties).
  3. Income Proof (Self-attested copy of relevant documents)
  • For Salaried Individuals: Last three months/Six months’ bank statement (dependent on the scheme) Showing Salary Credits /Latest Salary Slip.
  • For Self-Employed Individuals: Two years of Income Tax Return/P&L / and Balance Sheet for the last two years/Last Six Months’ Bank Statement.

4. Business Proof (Self attested copy of relevant documents)

  • For Self Employed Individuals: Qualification Certificate/ Certificate of Practice, Shop Act License/ Memorandum Of Association & Article Of Association/ Sales Tax/ VAT Registration/ Partnership Deed.

Personal Loan Interest Rate

For Self Employed:

  1. The business should be in existence for a minimum period of 3 years.
  2. The company’s Profit After Tax (PAT) for the last two years should be positive
  3. Minimum Age of a person should be 28 years, and the maximum Age should be 68 years, at the time of loan maturity.

For Salaried Individuals:

  1. The minimum age of the applicant must be 23 years, and the maximum Age should be 58 years, at the time of loan maturity.

Personal Loan Tenure

The tenure of the Personal Loan is 1 to 5 years.

Why your decision of choosing Bestloandeal is the right decision?

  1.  Firstly, our service is free of cost.
  2.  Secondly, you can avail our services 24/7.
  3. Furthermore, the approval process is time-saving if you apply through Bestloandeal.
  4.  Moreover, the Loan gets disbursed within 24 hours.
  5. Our relationship manager will assist you and will help you to avail the right offer.

How to apply for Corporation Bank Personal Loan?

  1. Visit www.bestloandeal.in
  2. After that, you have to fill the personal loan form, and our expert relationship managers will contact you.
  3. Furthermore, you will be informed regarding details of the Personal Loan, where you can choose your preferred city.
  4. Lastly, we will provide you our assistance until the end of the process, until you are not satisfied.