Sep 20, 2016 08:59 PM
6783 Views
I am working in public sector unit since 10 years. Last year I was in need for Rs 6, 00, 000/- for my personal work. I enquired in all banks about the processing fee, rate of interest and documentation. I come to know that all banks are charging around 16%p.a. as rate of interest and 0.5% as processing fee. But finally I come to know that Canara bank has tie up with our company and they are offering personal loans for 12.45% rate of interest and there is no processing fee.
I have applied for the personal loan for Rs 6, 00, 000 and term period was 60 months. I have submitted all my personal documents and undertaking from my disbursing officer. Within 3 days after submission of documents, the loan was processed and amount was credited in my account. The EMI was Rs 13500/-. Last month only I closed my loan account.
The advantages are:
1) Easy processing of loan application
2) The rate of interest is low.
3) The processing charges are NIL
4) The pre closure charges are NIL.
All these benefits for only those organizations that has the tie up with CANARA BANK.
