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State Bank Of Travancore
A Personal loan can come handy in times of need. It could help cover personal expenses like a vacation, renovating your home or planning a dream wedding, or in an emergency like heavy medical expenses. It is an unsecured, no-guarantor, no-collateral loan.
Interest rates for personal loans in India and elsewhere in the world is high, as it is unsecured and the bank has no collateral in case the customer defaults. Lenders try to safeguard their money by charging higher interest rates.
The interest rate on a personal loan could range from as low as 11% to as high as 32% per annum or even more. The interest rate is dependent on the lender’s lending policies, amongst other factors. The interest rate on personal loans is influenced by a variety of factors like your credit history including your repayment track record, your credit score, your net annual income, debt-to-income ratio, employment stability etc.
About State Bank Of Travancore Personal Loan Interest Rate
- Some features and benefits of State Bank of Travancore personal loans
- Eligibility
- State Bank of Travancore Personal Loan – Documentation Required
- State Bank of Travancore Personal Loan Interest Rate 2018
- How to calculate Interest/EMI on State Bank of Travancore Personal Loan
- How CIBIL™™ score affects State Bank of Travancore Personal Loan Interest Rates
- State Bank of Travancore Personal Loan Status
- How to apply for State Bank of Travancore Personal Loan
Some features and benefits of State Bank of Travancore personal loans:
- Complete flexibility of end use
- Minimal documentation and quick approvals
- Speedy processing and prompt disbursal.
- Loan tenure ranging from 1 to 5 years
- No collateral required (depends on the loan product)
- Easy State Bank of Travancore loan payment options
Eligibility:
Salaried Employees, Salaried doctors, Employees of Public and private limited companies, Government sector employees including Public Sector Undertakings and central and local bodies are eligible to avail a personal loan with State Bank of Travancore.
You should be of a minimum age of 21 years and should have a valid set of documents including ID proof, income proof and residence proof among others to avail the loan. Maximum age at loan maturity should be ideally 3 years before retirement age. You must draw a minimum net monthly income of Rs. 20,000 (for Government employees) and Rs. 10,000 for Corporates.
State Bank of Travancore Personal Loan – Documentation Required:
Following is a general list of documents required. Keep in mind that you may be asked for extra documentation, depending on the personal loan product.
- Proof of Identity: one of the following - Passport / Driving License / Voters ID / PAN Card
- Proof of Residence: one of the following - Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport
- Latest 3 months bank statement
- Salary slips for last 3 months
- At least 2 passport size photographs
State Bank of Travancore Personal Loan Interest Rate 2018: 11. 80% p.a. (subject to review)
Personal Loan Interest Rates in State Bank of Travancore are competitive. State Bank of Travancore Personal Loan Interest starts from 11. 80% per annum though it can be higher, depending on your credit history amongst other factors.
Following is an overview of State Bank of Travancore Personal Loan Rate of Interest and other fees and charges
State Bank of Travancore Personal Loan Interest Rate 2018
| Normal & Elite | |
| Demand loan | 11.80 % |
| overdraft | 12.05 % |
| No Checkoff | |
| Demand loan | 12.30 % |
| overdraft | 12.55 % |
| Personal loan for Corporates | |
| Only Full Checkoff | |
| Demand loan | 11.55 % |
| overdraft | 12.05 % |
| Personal loan- EXCEL | |
| CIBIL™™ score < 700 | 12.80 % |
| CIBIL™™ score 700 to 800 | 12.55 % |
| CIBIL™™ score > 800 | 12.30 % |
How to calculate Interest/EMI on State Bank of Travancore Personal Loan
To know how much you need to pay per month, you can make use of any reliable online personal loan EMI calculator. You just need to enter the tenure and the amount that you are comfortable with to repay each month of the chosen tenure. With the Personal EMI Calculator, you can also calculate exactly how much of your EMI goes towards servicing the interest.
How CIBIL™™ score affects State Bank of Travancore Personal Loan Interest Rates
Having a good CIBIL™™ score will help you get the lowest possible interest rates and enables you to get easy and hassle-free access to credit. Try to improve your credit score if you have bad credit so that your loan application is accepted. It is highly unlikely that your loan application would be approved with a bad score, and multiple rejections would only hurt your credit score further.
It is always advisable to maintain a healthy credit score of 750 and above. If your CIBIL™™ score is less, make a commitment to improve it to a healthy number before applying for any new credit.
State Bank of Travancore Personal Loan Status
Once State Bank of Travancore receives a completed application form along with the necessary supporting documents, the bank determines whether you are eligible for a personal loan or not. You can check the status of your State Bank of Travancore personal loan by contacting the customer care department and quoting your application number.
State Bank Of Travancore Personal Loan Interest Rate FAQs
1. Is there any fee associated with the application of a State Bank of Travancore Personal Loan?
Yes, a non-refundable processing fee of around 1.5% to 2% of the loan amount plus service tax will be levied.
2. What is the minimum and maximum personal loan amount?
You can get a Personal Loan from Rs. 50,000 to Rs. 15 lakhs depending on your requirement, income, and repayment capacity.
3. What is the tenure offered on State Bank of Travancore Personal Loans?
You can choose from flexible tenure ranging from 12 to 60 months.
4. Do I need to provide collateral to secure State Bank of Travancore Personal loan?
A third-party guarantor might be required in order to avail the loan.
How to apply for State Bank of Travancore Personal Loan
There are several ways of applying for a State Bank of Travancore Personal Loan:
-You can go in person to your nearest branch with the required documentation
-You can contact the customer care department of State Bank of Travancore
Need help with advice on eligibility and on which loan offer suits you the best?
If you want to apply for a personal loan with the lowest interest rates as applicable to your unique credit profile, CreditMantri can guide you through the entire application process and match you with the loan offer best suited to your credit needs.
State Bank Of Travancore Personal Loan Interest Rate - Customer Reviews
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