Indian Bank Personal Loan 2022

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Indian Bank Personal Loan 2022 Highlights

✔ Interest Rate @14.80% ✔ Loan tenure up to 84 months ✔ Loan amount 5 lakh ✔ Apply now at Afinoz


When it comes to banking, people of India always choose a bank that provides satisfactory services and assistance. And what is better than our own Indian Bank. Being one of the top-performing public sector banks in India, Indian Bank have always provided the top-notch services to its customers. The best that one can ask for. 

With its extensive reach all around the India, Indian Bank has left no stone unturned. Due to such factors, Indian Bank will soon be the anchor bank for Allahabad Bank. It is expected to happen from April 2021 and after that, this bank will be the seventh-largest bank in the world.

Indian Bank Personal Loan

A personal loan is a friend that we need at a certain time in life but we usually stay deprived as we just don’t know how to approach. We fear that our application will get rejected. We fear that for this financial assistance, we will have to repay a much bigger favour to the lender in the form of interest rate. And for these reasons, we delay the expenses that we can’t cover with our monthly income. To make you get rid of our loan anxiety, Indian Bank offers personal loan at easy to meet terms. You can avail personal loan up to Rs. 5 Lacs at reasonable interest rates. 

Indian Bank Personal Loan can be availed online also. For that, you need to visit the official website of Indian Bank and apply for the personal loan. The best thing about Indian Bank Personal Loan is its lucrative interest rate. For self-employed professionals, the bank charges a slightly higher interest rate on Indian Bank Personal Loan. Below, you can find more about features and benefits of Indian Bank Personal Loan. 

Features and Benefits of Indian Bank Personal Loan

When you apply for Indian Bank Personal Loan, not only you get funds for your personal expenses but also, you get following benefits –

  • Personal Loan up to Rs. 5 Lacs
  • Option to repay the loan amount in EMI as low as Rs. 3,276 per Lac. 
  • Zero charges on prepayment of the loan amount
  • Low processing fee
  • Minimal documentation
  • Easy to meet eligibility criteria 
  • Wide range of loan schemes

Indian Bank Personal Loan Interest Rate 2021

As mentioned earlier, Indian Bank Personal Loan Interest rate is very reasonable. This notion makes the bank one of the best personal loan lender in the market. Indian Bank Personal Loan is 14.80% onwards and stays reasonable even at its peak. The reason behind reasonable interest rate is because Indian Bank really cares about your dreams, desires, and concerns. For that, they charge very less processing fee. Unlike other banks, Indian Bank lets you prepay the entire loan amount in one go without taking any extra charge. Below, you can see the charges and other important things about Indian Bank Personal Loan. 



Indian Bank Personal Loan Interest Rate 2021

14.80% - 15.30% p.a.

Indian Bank Personal Loan Amount

Up to Rs. 5 Lacs

Indian Bank Personal Loan Tenure

84 months

Processing Fees

0.51% of the total loan amount, min - 500

Prepayment Charges



Indian Bank Personal Loan EMI calculator

When it comes to personal loan, people often feel anxious. As loans in India are often considered as a life-wrecking debt, they often shy away from it even in time of desperate need. They feel that they will be charged high-interest rate and also, bank will fool them by hiding some fees at the time of sanctioning of the loan. For such anxieties, Indian bank has developed an EMI calculator on its website. 

With the help of EMI calculator, you can do following things –

  1. Know how much interest rate will be paid till the end of the loan tenure.
  2. Know what will be the total payable amount.
  3. Understand what will be your EMI if you opt for a loan.
  4. Plan your loan accordingly. If you can afford EMI of smaller value, opt for longer loan tenure. 

You can do following things without leaving this tab. For that, you have to find ‘EMI Calculator’ in the menu section of our website. Afinoz Personal Loan EMI Calculator not only works just like Indian Bank Personal Loan EMI Calculator but also, gives you result in fastest time possible.

What Exactly is Afinoz Personal Loan EMI Calculator?

Indian Bank Personal Loan EMI Calculator is an online tool through which dynamics of a personal loan unravels. To use it, all you have to do is to provide 3 basic loan related information. Once you’re done, you will be shown an illustration of Indian Bank Personal Loan. There, you can find the EMI paid by you, total payable interest, and total payable amount. Indian Bank Personal Loan EMI Calculator works on complex mathematical formula and provides results in less than a second. 

Working Formula of Afinoz Personal Loan EMI Calculator

E = P * r * (1+r)^n/((1+r)^n – 1),

Here E = Equated Monthly Installment (EMI), P = Principal Loan Amount, R = Rate of interest (monthly rate of interest), N = Loan Tenure.

Now if you’re thinking that calculation through this formula is pretty simple, we suggest you to try calculation of EMI without EMI Calculator. The chances of you getting frustrated is way higher than Indian Bank Personal Loan Interest Rate. Better use Afinoz Personal Loan EMI Calculator to know the EMI on your Indian Bank Personal Loan.

For your understanding, we have come up with a table that is mentioned below. In it, you can see the various aspects of Indian Bank Personal Loan. We have taken an example of Mr Ramesh. 

Suppose, he has taken a personal loan of Rs. 10 Lacs from Indian Bank at 14% rate of interest. To compare the EMI, let’s suppose he has taken the loan amount for 1, 2, and 3 years. In the table given below, you can see how the EMI on his personal loan keeps changing with change in loan tenure. 

Loan Amount

Interest Rate



Total Payable Interest

Total Payable Amount

₹ 10,00,000



₹ 89,787

₹ 77,445

₹ 10,77,445

₹ 10,00,000



₹ 48,012

₹ 1,52,309

₹ 11,52,309

₹ 10,00,000



₹ 34,177

₹ 2,30,394

₹ 12,30,394

How to Get Personal Loan from Indian Bank?

Availing a personal loan from Indian Bank takes very less time. Due to its fast approval and disbursal feature, Indian Bank Personal Loan is the best financial assistance that one can avail. To avail a personal loan from Indian Bank, you have to visit the bank. By talking to the branch manager, you can know if you’re eligible for Indian Bank Personal Loan. If eligible, you can proceed with filling up the Indian Bank Personal Loan Application Form and submitting every required document. To make sure that you get a personal loan without any delay, you must not to forget every document. For your convenience, we have mentioned every important document you need for Indian Bank Personal Loan in the below section of this page. 

Eligibility Criteria for Indian Bank Personal Loan

Indian Bank Personal loan Eligibility Criteria is easy to meet. As personal loan is required for those who are in urgent financial need, this bank has set a very easy to meet eligibility criteria. It is important to understand that no matter how flexible eligibility criteria is, your personal loan application will be rejected if you won’t be able to meet them. 

Here are some of the most important eligibility criteria of Indian Bank Personal Loan –

  • Applicants must be a permanent employee of the Government or Quasi-Government Institutions, endowments, corporate industrial establishments, reputed companies, etc. 
  • He/she must be the employee of his/her current organisation from the last 3 years to be eligible for personal loan by Indian Bank.
  • He/she must have a good credit score and good repayment history. 

You can check your personal loan eligibility by filling up our “Check Your Personal Loan Eligibility” Form. Our team works with complete dedication and check your eligibility instantly. Once they do it, they get in touch with you for further process of personal loan. You can also apply for personal loan with us and avail benefits up to Rs. 5,000.

Documents Required for Indian Bank Personal Loan

  1. Duly signed Indian Bank Personal Loan Application Form with two passport-sized photographs 
  2. ID proof 
  3. Address proof 
  4. Salary certificate 
  5. Income Tax Returns or Form 16 of last 3 years
  6. Past 6 months bank statement
  7. Processing fee cheque
  8. Guarantor certificate

Various Types of Indian Bank Personal Loan Schemes

Apart from personal loan for salaried employees, Indian Bank also offers various types of Indian Bank Personal Loan Schemes. They are – 

  1. Loan/OD against Deposits
  2. IND Mortgage
  3. IND Reverse Mortgage
  4. IB Pension Loan

For more information related to various loan products, bookmark Afinoz website. You can also download Afinoz App from Google PlayStore. By doing so, you can compare and choose the best loan products as per your requirements. We don’t engage in charging extra fees to our customers unlike other loan marketplaces.

➤ FAQs

Ques. How can I check my loan status in Indian Bank?

You can check your loan status of Indian Bank by two methods – online and offline. To check your loan status through an offline medium, you need to visit the bank. Ask for the responsible person, and submit your loan reference number. Once you do it, he/she will let you know about your loan status. You can also get in touch with customer support of Indian Bank by giving a call on 1800 425 00 000. For checking your personal loan status through an online channel, you need to visit the website of Indian bank. Log in using your net banking credential. By doing so, you can check your loan status instantly.

Ques. What is the procedure to get personal loan in Indian Bank?

The procedure to get personal loan in Indian Bank is so subtle. First, you have to check your personal loan eligibility. If eligible, you can proceed with filling up the application form. You need to submit the required documents with your personal loan application form to any branch of Indian Bank. As Indian Bank is yet to provide an option to apply for personal loan online, you have to give a visit to one of the branches of Indian Bank. To avoid the hassle of visiting the branch, you can opt for applying personal loan with Afinoz. Afinoz provides a-z financial solutions and that too in record time.