Upto 20X of Gross Salary – Indian Bank Personal Loan | Apply Now

Indian Bank is the bank system that was incorporated as an important piece of the Swadeshi Movement on Independence Day in 1907. It is an ISO-certified bank that is valued worldwide. Currently, Indian Bank has over 5900+ branches that offer the best service to their consumers.

In this post, I’ll cover the details of how to apply for a personal loan at Indian Bank, its details, eligibility, features, and many more.

Loan Details

Sl. No.CategoryData
1Loan amountUp to 20 times of gross salary-monthly
2TenureTill 84 months
3Rate of interest9.05-13.65%
4Processing charge1%
5Age21 years (minimum) or above
6Lowest EMIRs 1,611 per Lakhs
7CIBL scores700
8GuarantorYes, required

Steps to apply for personal loan at Indian Bank

Step-1: Visit the official site and fill-up the application form

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Step-2: Enter your true personal details and submit form

Step-3: Upload the documents asked via email or by visiting the nearest branch of Indian Bank

Step-4: The bank agents will verify your documents and will notify you soon regarding approval of personal loan


  • Maximum offering of loan amount: Up to 20 times the monthly gross income
  • Best interest rates
  • Tenure is very flexible up to 84 months or 7 years
  • Very minimal processing fee = 1%

Types of Indian Bank Personal loan

There exist various types of personal loans at Indian Bank and they are mentioned as:

  1. Indian Bank loan for salaried
    • Given to the individuals who work in the public/private firms
    • Covers the expenses of weddings, travel, car loans, and many more.
    • It is also known as “Clean Loan”.
  2. Indian Bank loan for pensioners
    • Given to the senior citizens/pensioners who have their existing account with Indian bank.
    • Can also cover the travel, weddings, car, etc. expenses.
  3. Indian Bank loan Home Combo
    • This loan facility is for salaried individuals who have already asked for a home loan from Indian Bank.
    • The main feature of this loan is the discount in interest rates.
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Eligibility Criteria

Eligibility criteria are of three types of personal loan at Indian Bank. These criteria are as follows:

Indian Bank For Clean Loans

  • Applicant must be working in some reputed public/private firm earning money
  • Age: 21 years to 60 years
  • Work experience: 3 years (minimum)
  • CIBL score: Over 700
  • Minimum home-pay take: 40% after deduction of EMI

Indian Bank For IB Pension Loans

  • Age 75 to 78 years (regular pensioner), 70 to 73 years (family pensioner)
  • Spouse guarantee required
  • Applicant must be a pensioner with an existing account in Indian Bank

For IB Home Combo Loans

  • Applicant must have an existing application for home loan at Indian Bank
  • Equitable mortgage should have been created
  • Applicant must be regular for his loan re-payment

Required Documentation

Documents that are required to verify also are of 2 types based on the profession of a person same as eligibility. They are:

For Indian Clean loan

  1. Identity proof (Passport/Driving license/Voter ID)
  2. Residential proof (Ration card/PAN Card)
  3. Employment proofs
  4. Income certificate
  5. ITRs
  6. Bank statement
  7. Third-party guarantor proof
  8. Passport sized photographs
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For Indian Pension Loan

  1. Identity proof (Passport/Driving license/Voter ID)
  2. Residential proof (Ration card/PAN Card)
  3. Passport sized photographs
  4. Credit statement of pension
  5. Security proof

Comparison of Indian Bank with other banks

Sl. No.Bank NameLoan amountInterest rates
1BajajUp to 25 Lakhs13%
2IDFCUp to 40 Lakhs10.4-20%
3SBIUp to 20 Lakhs1.5%
4BOIUp to 10 Lakhs8.35-10.35%
5AxisUp to 15 Lakhs12-21%

Check Status

You can instantly check the status of your Indian bank personal loan by clicking on the following button:

Contact Details

Toll-free customer care number: 1800-425-00-000 or 1800-425-4422

Mail-id: feedback_customerservice@indianbank.co.in

Visit the official webpage: Click now


1]. Is collateral mandatory for a personal loan at Indian Bank?

No collateral is required for a personal loan at IB.

2]. Can the EMI payment mode be changed?

Yes, you can change the mode of payment of EMI but for that, you have to give an application at Bank regarding the same.

3]. What minimum credit score is required to avail of a personal loan at IB?

No perfect criteria regarding credit score are announced. But, 700/900 or higher is considered to be better.

4]. What is the maximum period of tenure for a personal loan?

Up to 7 years or 84 months is the maximum tenure period.

5]. What is the tenure of re-payment for a family pensioner at IB?

The tenure for a family pensioner at IB is 36 months and it cannot be then exceeded.

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