Indian Bank Personal Loan

Last Updated : March 17, 2025, 3:52 p.m.

Indian Bank is a state-owned financial services company established in 1907. Headquartered in Chennai, this top-performing public sector bank with over 2,565 branches in India is no doubt a trustworthy name to reckon with. With its best suite of products and services such as Personal Loan , this bank is set to fulfill your every personal need. By offering you instant funds at the lowest interest rates and charges, the bank ensures to give wings to your dreams. If you want to know more about Indian Bank Personal Loans, this article is for you.

Indian Bank Personal Loan Interest Rates 2025

The table below shows the latest Indian Bank Personal Loan Interest Rates and some other important information -

Types of Indian Bank Personal Loan

Here is the type of personal loan under Indian Bank -

1. IB CLEAN LOAN - SALARY LOAN
2. IB PENSION LOAN
3. IB INSTA CASH
4. IB PROFESSIONAL

IB CLEAN LOAN - SALARY LOAN

An unsecured personal loan for salaried individuals, offering quick funds with flexible repayment options to meet marriage, education, medical, household, family function expenses, or any other bankable purpose (excluding speculative purposes).

Eligibility -

• Permanent employees with at least 2 years of service in Govt., Quasi-Govt., Boards, Endowments, or reputed companies.

Age -

• 21 Years

Repayment Tenure -

• 84 months or 7 years

Loan Amount -

• No check-off/undertaking, salary in Indian Bank: Up to 20x monthly gross salary (Max Rs.50 lakhs)
• With check-off/undertaking, salary may/may not be in Indian Bank: Up to 20x monthly gross salary.
• Existing home loan, salary in Indian Bank: Up to 20x monthly gross salary

Overdraft Facility -

• No check-off/undertaking, salary in Indian Bank: 1 month’s gross salary (Max Rs.2 lakhs) for 1 year (Max limit Rs.50 lakhs)

• With check-off/undertaking or existing home loan , salary in Indian Bank:

• Up to Rs.5 lakhs – Max 5 years

• Above Rs.5 lakhs – Max 7 years

IB PENSION LOAN

IB Pension Loan from Indian Bank offers quick funds to pensioners for personal needs with easy repayment options.

Eligibility-

Central/State Govt. Pensioners, Family Pensioners, Re-employed Pensioners, and IB Retirees (VRS & superannuation) with pension accounts in Indian Bank. CRS and EPF Pensioners are not eligible.

Age-

• Regular Pensioner: Entry up to 75 years, exit up to 78 years
• Family Pensioner: Entry up to 72 years, exit up to 75 years
• No minimum entry age

Repayment-

• Up to 10 years (subject to exit age)

IB INSTA CASH

IB Insta Cash offers an overdraft facility for employees of eligible organizations whose salaries are credited to Indian Bank savings accounts . It provides quick access to funds to meet urgent financial needs with flexible repayment options.

Eligibility -

Regular employees of Govt./State Govt./PSUs/Listed Companies/Autonomous Bodies with salaries credited to Indian Bank for at least 1 month (Min salary Rs.25,000). This also applies to organizations with 50+ salary accounts in the Indian Bank.

Loan Amount -

• Rs.25,000 to Rs.2,00,000 or 2 months’ salary (whichever is lower);
• Minimum NTHP after interest: 40%.

Tenure -

• Indian Bank Personal Loan Overdraft Facility is for 1 Year.

IB PROFESSIONAL

This loan is basically for personal needs like office setup/renovation, buying consumer durables, household items, family functions, and other personal expenses (excluding speculative purposes).

Minimum Gross Income-

• Professionals with a minimum annual gross income of Rs.7.5 lakhs in the last two years.
• Must be regular taxpayers with filed ITRs for the last two years.

Age -

• Minimum Age- 21 Years
• Maximum Age- 70 Years

Eligibility -

• Up to 2.5x lowest gross annual income in the last two years (Min NTHP after EMI: 40%)
• Good credit history (verified by CIC and other sources)
• Recognized qualification and valid license (if required)
• At least 75% of credit turnover must be routed through the bank account

Repayment Tenure -

• Maximum 84 Months

Indian Bank Personal Loan Interest Rates Category Wise

Personal Loan Interest rates are based on the applicant’s profile and category -

• Pre-approved Personal Loan for Pensioners, Salaried & Regular Income Customers: 12.15%
• PAPL for Self-employed Customers: 12.75% to 14.75%
• Pre-approved Personal Loan for Home Loan Customers: 10.75%.

Indian Bank Personal Loan EMI Calculator

EMI is the monthly payment a borrower makes toward loan repayment, covering both principal and interest. Use the Wishfin Indian Bank Personal Loan EMI Calculator to calculate EMIs by entering the loan amount, tenure, and interest rate. The calculator computes the interest first, followed by the principal.

For Example , Sukesh is planning to avail of a Rs. 3 lakh loan for 5 years at the prevailing interest rate of 10.75% per annum to 14,75% per annum. To check the monthly EMI check the table given below -

Documentation Required For Indian Bank Personal Loan Application

Here is the list of documents that are required while applying for the Indian Bank Personal Loan -

For IB Clean Loan to Salaried:

• Income Proof: Last 6 months’ salary slips with tax deductions/Form 16 (attested by the employer)
• PAN Card (mandatory)
• Form 16/ITR
• Employment Proof: Employer ID card, employment order, or employee number
• KYC: Aadhaar card, ration card, driving license, or voter ID
• EMI Authorization: Debit authorization from SB account/NACH mandate/ECS

For IB Pension Loan:

• PPO Copy (Pension Payment Order)
• Intimation to PPA
• EMI Authorization: Debit authorization from the pension credit account
• Guarantor: As per the bank’s acceptance criteria.

Features & Benefits For Indian Bank Personal Loan

These are the features and benefits of Indian Bank Personal Loan -

• Maximum Loan Amount: You can borrow upto 20 times your monthly income from Indian Bank. For urgent financial requirements such as money for medical aid, and debt payment, the loan is best suited.
• Convenient Loan Repayment Options: The borrower can pay the loan with a maximum of 84 EMIs. You can choose the tenure at your convenience.
• Attractive rate of interest: The interest rate on your borrowed loan amount ranges from 10.75% - 14.75% per annum, which is quite attractive if you consider the prevailing personal loan rate in India. The loan is approved faster as the documentation process is quite simple.
• Quick disbursal: The loan is disbursed to your account instantly after the sanction, and you can withdraw the funds easily.

Summary!

Indian Bank Personal Loan offers quick and hassle-free access to funds for various personal needs, including marriage, education, medical expenses, and home renovation. With competitive interest rates starting from 10.75%p.a., which are flexible repayment options, and minimal documentation, it provides a convenient solution for managing financial requirements.