Corporation Bank Chennai - Rates March 2024, IFSC Code, Main Branch

Corporation Bank Chennai

About Corporation Bank

Corporation Bank functions on the motto of serving the customer-friendly products from the beginning itself. The first branch of Corporation Bank was opened at Kundapur in 1923 and then in Mangalore in 1926. The mission of Corporation Bank is to serve the best financial products to the urban as well as rural population of India. The bank is one of the leading banks in the country providing affordable loans and higher savings on investment products.

Corporation Bank has also shown outstanding performance oriented culture and augmenting record and has crossed ₹1000 Crores Deposit mark in the year 1985 and launched into the 1990s with the focus on high quality growth by initiating latest technology in its operations. The bank got the ‘Best MSME Bank Award 2016’ initiated by The Associated Chambers of Commerce & industry of India (ASSOCHAM) along with the ‘Excellence Award on Empowering MSMEs 2016’ to name a few.

Branch Addresses of Corporation Bank in Chennai

Branch NameComplete AddressIFSCMICRContact Number
George Town 49, Armenian Street, p.B. No. 237, George Town, Chennai-600001CORP0000005 600017002044- 25341636
Mylapore Temple Square 22, North Mada Street, Mylapore, Chennai-600004CORP0000049 600017007044-24641933, 24642853
Whites Road 38, 39 Whites Road, Chennai- 600014CORP0000122 600017006044-28524258, 28525191
Kellys Corner 12, Ormes Road, Kilpauk, Chennai-600010CORP0000123 600017004044-26412272, 26427191
Indira Nagar 37, First Avenue, Indira Nagar, Chennai-600020CORP0000124 600017003044-24419083, 24413350
Mint Street 378, Mint Street, Sowcarpet, Chennai-600079CORP0000149 600017005044-25381299, 25362969
Tambaram Sanatorium No.7, Railway Station Road, Tambaram Sanatorium, Chennai-600047CORP0000469 600017008044-22412153, 22384164
Anna Nagar Block AA, 144 III Avenue, Anna Nagar, Chennai-600040CORP0000487 600017009044-26269162, 26206639
T Nagar Venkatanarayan Road, T Nagar, Madras-600017CORP0000491 600017010044-24348635
PBB27 White RoadCORP0000504 600017011044-28546803

Products Offered by Corporation Bank in Chennai

Corporation Bank is one of the leading banks in India that offers services under the following sections- personal, corporates, NRI, PMJDY (Pradhan Mantri Jan Dhan Yojana), and E-banking. In Chennai, the bank offers personal loans, home loans, loan against property, business loan, vehicle loan, and fixed deposit products.

Basic Details of Corporation Bank Products

ProductEligibilityAmount Interest RateProcessing FeeTenure
Home Loan Between 18 to 65 years, with independent and regular source of income.For Metro Cities - ₹ 500 lakh
Port Town(Other than Metro) and Urban Cities- ₹100 lakhs
Semi Urban Cities-₹50 lakh
Rural Cities -₹ 35 lakhs
8.60% - 11.20%Corp Home-0.50% of loan amount, maximum of ₹ 50,000


Corp Ghar Shobha-0.50% of loan amount subject to a minimum of ₹ 10,000/-
30 years
Personal Loan For Salaried – 21-60 years

For Self-Employed

24-65 years
Minimum - ₹0.10 lakh


Maximum -₹ 3.50 lakh
11.80% - 15.50%1.50% of the loan amount subject to a minimum of ₹ 500 5 Years
Vehicle LoanFor Salaried- 18-70 years

For self-employed/partnership business/private and public sector -
Above 18 years and below70 years at the time of loan maturity
Two Wheeler- ₹1 lakh

Three Wheeler-₹ 2 lakhs per vehicle

Four Wheeler-₹ 1 crore per vehicle

Heavy Vehicle/Water Transport Vehicle-₹ 5 crore per vehicle
7.80% - 7.90%Two/Three -wheeler: 0.50% of loan amount, subject to minimum of ₹ 500/-

Four -wheelers and others- 1% of the loan amount subject to minimum of ₹ 1,000/-

[0.75% of loan, minimum of ₹ 2,000/- under CCVL Scheme]
Two Wheeler-
3 years

Three Wheeler-
5 years


For Other than two and three wheeler-
7 years
Business Loan 1. Individual / Sole Proprietorship / Partnership firm/HUF/ Joint Stock Company or any other entity engaged in trading/business activity either on retail or whole sale basis for a period of 1 year prior to seeking sanction of loan.
2. Units engaged in manufacturing/processing/ SSI units/ Commission agents /Contractors are also eligible for loan provided stock is available /held by them for hypothecation.

3. Applicant must have either sales tax-registration OR trade/business license/permit issued by any Statutory Authority/Recognized body.
Minimum -₹ 2 lakhs

Maximum Loan Amount :

For Metro Cities - ₹ 500 lakh

Port Town(Other than Metro) and Urban Cities- ₹200 lakhs
Semi Urban Cities-₹100 lakh
Rural Cities -₹ 30 lakhs
Varies from Individual to Individual1% of the limit sanctioned Upto 7 years
Loan Against Property18 - 65 years owning residential /Commercial property / Industrial property, land and/or building,Minimum -₹ 2 lakhs

Maximum Loan Amount :

For Metro Cities - ₹ 500 lakh
Port Town(Other than Metro) and Urban Cities- ₹300 lakhs
Semi Urban Cities-₹25 lakh
Rural Cities -₹ 10 lakhs
11.20%-13.20%Term loan : 1% of the limit sanctioned7 to 10 years
Fixed DepositIndividuals, Hindu Undivided Families (HUFs), Minor represented by parents/guardian,Guardian on behalf of societies, clubs, trusts and associations, associations, clubs, trusts, sole proprietorship firms, partnership firms and limited companiesNIL3.00% - 5.40%NIL7 Days-10 years

Documents Required

ProductDocuments
Home Loan Identity Proof-PAN Card/Passport/Voter ID/Driving License/Aadhaar Card

Address Proof-Utility Bill/Passport/Aadhaar Card/Voter ID

Income Proof-Latest Salary Slips & Form 16 for Salaried
- Profit & Loss A/C Statement & Audited Balance Sheet for the Last 3 Years

Bank Account Statement for the Last 6 Months

Track record of existing loans, if any

Details of property you look to buy & construct
Personal Loan Identity Proof- PAN Card/Voter ID/Driving License/Aadhar Card/Passport
Address Proof- Utility bill/Passport/Aadhar card/Voter ID
Income Proof- Latest Salary Slip/ ITR/Form-16
Bank Statement- Last 3-6 Month Bank Statement
Vehicle LoanProof of Identity: Passport copy, PAN Card, Voters Id card, driving license( Laminated, Recent, Legible)

Proof of Address: Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card.

Proof of Income: Latest salary slip with form 16 / Audited balance sheet, Profit & Loss Account for latest two years/ Have a minimum turnover of ₹ 4,50,000 per annum / Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company / Latest ITR

Bank Statement: Last 6 months
Business Loan Identity Proof-PAN Card/Passport/Voter ID/Driving License/Aadhaar Card

Address Proof-Utility Bill/Passport/Aadhaar Card/Voter ID

Income Proof-Latest Salary Slips & Form 16 for Salaried
- Profit & Loss A/C Statement & Audited Balance Sheet for the Last 2Years for self-employed

Bank Account Statement for the Last 6 Months

Track record of existing loans, if any

Trade License applicable to a proprietor/partnership firm

Ownership documents, if any, of the security

Copy of Partnership deed/Memorandum of Association (MOA and Articles of Association (AOA) or other documents. These documents apply in the case of partnership firm or a company
Loan Against PropertyIdentity Proof-PAN Card/Passport/Voter ID/Driving License/Aadhaar Card

Address Proof-Utility Bill/Passport/Aadhaar Card/Voter ID

Income Proof-Latest Salary Slips & Form 16 for Salaried
- Profit & Loss A/C Statement & Audited Balance Sheet for the Last 3 Years for self-employed

Bank Account Statement for the Last 6 Months

Track record of existing loans, if any

Details of property to be mortgaged
Fixed DepositAn Individual, Hindu Undivided Family, Sole Proprietorship Concern

ID Proof – Passport, PAN Card, Driving Licence, Voter ID, Government ID Card, Senior Citizen ID Card
Address Proof - Telephone Bill, Electricity Bill, ID Card Issued by Post Office,

Personal Loan Interest Rates March 2024
HDFC Bank10.75% - 14.50%
ICICI Bank10.75% - 19.00%
IndusInd Bank10.25% - 26.00%
Kotak Bank10.99%
RBL14.00% - 23.00%
SMFG India Credit12.00% - 24.00%
Standard Chartered Bank11.49%
Tata Capital10.50% - 24.00%
Home Loan Interest Rates March 2024
Axis Bank8.75% - 9.15%
Bank of Baroda8.50% - 10.60%
Citibank8.75% - 9.15%
HDFC8.50% - 9.40%
ICICI Bank9.00% - 9.85%
Indiabulls Housing Finance Limited8.65%
Kotak Bank8.70%
LIC Housing8.50% - 10.50%
Piramal Capital & Housing Finance10.50%
PNB Housing Finance8.50% - 10.95%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI9.10% - 9.65%
Tata Capital8.95% - 12.00%