Indian Bank Personal Loan 2025 - Apply in Minutes & Get Disbursal Fast

Pre Approved Personal Loan

Clean Loan

Salary Loan & IBCLS Plus

Pension Loan

Jewel Loan

Other Retail Loans

Eligibility Criteria for Indian Bank Personal Loan

Given below are the eligibility criteria that prospective borrowers will have to meet to avail a personal loan from Indian Bank:

Eligibility for IB Clean Loan (To Salaried Class)

1. Must be a permanent employee of the Government or Quasi-Government institutions, endowments, corporate industrial establishments, reputed companies, or boards, etc.
2. Must be employed for at least three years before applying for the loan.
3. Must earn a minimum take home salary of 40% of the gross salary following the servicing of the proposed EMI.

Eligibility for IB Pension Loan

1. Central and State Government employees, family pensioners, pensioners who are re-employed, and former employees of the Indian Bank now retired can avail this loan. EPF pensioners and CRS retirees are not eligible for this loan.
2. Maximum entry level age is 75 years and maximum exit level age is 78 years.

Eligibility for Loan/OD against deposit

1. You must be the holder of the Term Deposit at Indian Bank.

Eligibility for IND Loan / OD Against NSC / KVP / Relief Bonds of RBI / LIC Policies

1. Customers who have been properly introduced and who have the capacity to service the loan and the interest is appraised.

Types of Indian Bank Personal Loans

IB Clean Loan

Key Highlights

1. Maximum loan amount is 20 times the gross monthly salary
2. Processing fee applicable will be at the discretion of the bank.
3. Lowest interest offered is 10.00% p.a. - 10.60% p.a.

IB Pension Loan

Key Highlights

1. Interest rate offered is 11.15% p.a. - 11.40% p.a.
2. Maximum loan amount is 15 months pension.

Loan/OD against receivables

Key Highlights

1. Maximum loan amount is 90% of the accrued deposit value.
2. Flexible repayment tenure.
3. Term deposit has to be pledged as security.
4. Interest rate offered is 9.70% p.a. - 11.85% p.a.

Loan / OD Against NSC / KVP / Relief Bonds of RBI / LIC Policies

Key Highlights

1. Maximum loan repayment tenure of 6 years.
2. Processing fee of 1% of the loan amount charged. Minimum processing fee will be Rs.100.
3. For loan facility the minimum loan limit is Rs.10,000 and Rs.2 lakh for overdraft facility.
4. Interest rate is 10.00% p.a.

Indian Bank Personal Loan Fees and Charges

Documents Required to Apply for Indian Bank Personal Loan

How EMI Calculation works for Indian Bank Personal Loans?

You can use the Personal Loan EMI calculator by BankBazaar to determine the EMI payable depending on the loan amount, repayment tenure, and the interest rate charged.

Consider a scenario, where you have availed a loan of Rs.1 lakh from Indian Bank for a repayment tenure of 1 year, with the rate of interest charged at 10% p.a. The monthly EMI you will have to pay is Rs.8,792. The loan repayment schedule is given as follows:

How Indian Bank Compares with Other Lenders

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