|Processing Fee||Least amount of processing fee
Above Rs.25,000: 1.00% of total loan amount with regards to minimum Rs.250 or new credit services and improvement in current working capital limits. Up to Rs.25,000: NIL.
|Prepayment/Foreclosure Charges||Not Applicable|
|Lowest EMI||Not Applicable|
|Loan Tenure||Maximum: 60 months|
|Interest rate||12.00% to 19.00% per annum
*Current 1 year MCLR rate is 10.10%.
|Age||None of the specifications|
|Loan Amount||Note: Total deductions towards loan repayment should not exceed 50% of gross salary. 10 times of gross monthly salary with regards to upper ceiling fixed time to time by the bank.|
The floating rate of interest offered by Catholic Syrian bank on the personal loan is 18.25%. The reason for floating interest rate is that the interest rate depends upon the duration of the tenure of loan against the fixed interest rate which is constant throughout the loan tenure. In case of salaried individuals, the bank gives 10 times the monthly salary in the form of the utmost loan amount for the borrower. Also, the bank needs one person as the guarantor who is already an employee in the same organization for 5 years and also should guarantee maximum 2 people.
Table comprising Catholic Syrian bank interest rates
401, Lakhani Centrium, Sector 15, CBD Belapur, Navi Mumbai, Maharashtra 400614