Corporation Bank Personal Loan Review

Corporation Bank is a nationalized bank. It was established in 1906 and nationalized in 1980.

Loan amount

The maximum loan amount availability is only 2 lac. This is nowhere near what competitors are offering in the market.

Interest rate

The interest rate ranges from 13.5% to 14.5% depending upon the customer profile and loan amount. It is a floating interest rate. These rates are among the lowest available in the market.

Charges

The processing fees are 1.5% of the loan amount or Rs. 500, whichever is higher. These are among the lowest available in the market. There are no prepayment charges. This is a huge benefit for people looking to repay their loans ahead of schedule.

Tenure

The loan tenure ranges from 1 year to 5 years which is more or less the industry standard.

Ratings

Reputation: 3/5

Loan amount: 2/5

Interest rate: 3.5/5

Charges: 3.5/5

Tenure: 2.5/5

Overall: 2.75/5