Indian Bank Personal Loan
Indian Bank, established in 1907 and headquartered in Chennai, offers this unsecured personal loan with no collateral or margin requirement, for amounts up to ₹50 lakh over tenures of up to 84 months. The bank specifies that take-home pay after EMI must not exceed 40% of gross income, and an overdraft variant is available — capped at 60 months for loans of ₹5 lakh or below and up to 84 months for loans above ₹5 lakh — with an option to route the loan through a guarantee from a spouse, PF, gratuity, or NPS nominee.
Required documentation includes 6-month salary slips or Form 16, employment proof, mandatory PAN, KYC documents, and an ECS/NACH mandate. Interest rate, rate type, processing fee, prepayment penalty, minimum loan amount, minimum tenure, minimum CIBIL score, applicant age, minimum salary, and eligible employment types are not published for this product.
At 9.65%, Indian Bank has one of the lowest starting rates of the 22 lenders we track for personal loans.
Documents required
- 6-month salary slips/Form16
- employment proof
- PAN mandatory
- KYC
- ECS/NACH mandate
As published by Indian Bank. Your branch may ask for more.
Eligibility
Loan terms
- Unsecured, nil collateral/margin
- take-home after EMI ≥40% of gross
- OD variant (60mo ≤₹5L, 84mo >₹5L)
- spouse/PF/Gratuity/NPS-nominee guarantee option
Fees & charges
FAQ
Lenders price on your credit score, income, employer category and tenure. A score above 750 typically unlocks the lower end of each range shown. The exact rate is confirmed by the lender at underwriting.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.
Most lenders allow prepayment after a few EMIs. Charges vary by lender and are shown in the fees section; RBI caps foreclosure charges on floating-rate loans to individuals.