Syndicate Bank Personal Loan

For non-salaried class: Must be a professional, lawyer, doctor, Chartered Accountant, engineer or other non-salaried class applicant

SyndSenior

Eligibility Criteria

Customers who wish to avail the SyndSenior loan from Syndicate Bank must be pensioners who receive regular monthly pension from the State or Central Government, defence establishments, Public Sector Units or Undertakings, or other government or quasi government institutions provided their pensions are routed via accounts held with Syndicate Bank.

SyndRent

Eligibility Criteria

Customers who wish to avail the SyndRent loan from Syndicate Bank must be bona fide owners of commercial or residential property standing in their own names, and the property must be let out to reputed companies, institutions, or the Government.

SyndConnect

Eligibility Criteria

Customers who wish to avail the SyndConnect loan from Syndicate Bank must be permanent employees of the State or Central Government, Public Sector Undertakings or Units such as financial institutions, banks, the Life Insurance Corporation of India, defence establishments, or other government or quasi government institutions or blue chip companies whose salaried are credited through Syndicate Bank.

SyndSolar

Eligibility Criteria

Customers who wish to avail the SyndSolar loan from Syndicate Bank must be new or existing home loan customers or home owners who wish to install solar rooftop systems. The existing home loan may or may not be taken from Syndicate Bank to avail SyndSolar.

SyndDelight

Eligibility Criteria

The SyndDelight loan scheme from Syndicate Bank can be availed by home loan customers who have shown satisfactory repayment record over the past three years or more.

SyndSwarna (Non EMI)

Eligibility Criteria

The SyndSwarna loan scheme from Syndicate Bank can be availed by new as well as existing customers who have been properly introduced to Syndicate Bank and adhere to KYC norms.

SyndSwarna (EMI)

SyndSwarna (Non Agriculture)

Syndicate Bank Personal Loan Fees & Charges

1. Processing charges: 0.50% of the loan amount subject to a minimum of Rs.500 for SyndSaral, Rs.200 for loans above Rs.50,000 for SyndSenior, 0.25% of the loan amount, subject to a minimum of Rs.250 for SyndConnect, Rs.500 per lakh for SyndDelight, and nil for the other personal loans offered by Syndicate Bank.
2. Documentation charges: Rs.100 per lakh subject to a maximum of Rs.500 for SyndConnect, Rs.200 per lakh subject to a maximum of Rs.25,000 for loan amounts above Rs.2 lakh for other loans.
3. Other charges: Other charges such as insurance charges, legal charges, consultancy charges, supervision charges, valuation fees, etc. will be charged at actuals.
4. Late payment of EMIs: The overdue interest for the delayed period will be charged as late fees.

Documents Required for Syndicate Bank Personal Loan

1. Signed application form with photograph
2. Copy of your driving license, passport, or Voter's ID
3. Bank statement for the past three months
4. The latest salary slip
5. The latest Form 16 or Income Tax Returns

How does the EMI calculation for Syndicate Bank personal loan work?

Let's say that Mr. Vishwas, a marketing professional, who draws a monthly salary of Rs.45,000, avails a personal loan from Syndicate Bank. The amount borrowed by Mr. Vishwas is Rs.1.5 lakh and the tenure of the loan is one year. The interest rate applicable to the loan is 13.55% p.a., and Syndicate Bank levies a processing fee at 0.50% of the loan amount. In this case, here's what Mr. Vishwas' repayment schedule will look like:

As you can see from the above amortisation table, Mr. Vishwas will be paying Rs.13,346?as his EMIs until March 2020. The total amount he will be paying is Rs.1,61,986 (loan amount of Rs.1.5 lakh, processing fees of Rs.750, and total interest payments of Rs.11,236).

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