Personal Loan

Personal Loan

Empower your dreams with APCOB Bank’s Personal Loans. The Bank finances loan for various purposes viz., domestic / education / health expenses, to repay the existing debts, to purchase consumer durable items, etc., our hassle-free loan options and competitive interest rates are designed to make your aspirations a reality. Take the first step towards your dreams – inquire about our Personal Loans today.

  • The Applicant/s should be a customer of the branch/bank.
  • Salaried/Self-employed/Pensioners can avail loan.
  • Sufficient source of income with reasonable documentary evidence to meet EMI for the loan availed.
  • The prospective Borrower’s & surety CIBIL score should be minimum 650.
  • Government Surety is required.
Features & Benefits

Can be used for various purposes domestic / education / health expenses, to repay the existing debts, to purchase consumer durable items and more.

Quick approval and disbursal

No restriction on usage except for speculative purposes

Professionals / Self-employed the repayment period upto 70 years

Low processing charges and no prepayment charges

NIL Pre-Payment Charges

Interst Rates %
S. No
Cibil Score
Rate of Interest
650 to 700
701 to 750
751 & above
  • Up to Rs.5.00 Lakh – One Surety and
  • Above Rs.5.00 lakh – Two sureties.
  • The surety should also meet the requirement of 1/3rd net take home salary after meeting the entire existing and proposed monthly instalment.
  • It is preferable to have a salaried person either as borrower or as guarantor. In other words, if the borrower happens to be other than salaried person the guarantor / surety shall be a salaried person.
  • Collateral Security can also be accepted in the form of our own bank Term
    Deposits, NSCs etc., and in combination with immovable property in lieu of personal guarantors.
Other Services

Vehicle Loan

APCOB Bank current accounts are easy to open and simple to use.

Business Loan

Zero(0) Account Balance and ₹ 3.75% Rate Of Interest

Government Schemes

Open Corporate Salary Delight Account and get attractive benefits.

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    What is a personal loan?

    A personal loan is a type of unsecured loan that you can use for various personal expenses, such as debt consolidation, home improvement, medical bills, or other financial needs. Unlike secured loans, personal loans don't require collateral.

    How do personal loans work?

    Personal loans provide borrowers with a lump sum of money that they repay over a fixed period with interest. The interest rate and terms are typically based on the borrower's creditworthiness and the lender's policies.

    What can I use a personal loan for?

    Personal loans are versatile and can be used for a wide range of purposes, including consolidating high-interest debt, paying for unexpected medical expenses, funding a wedding, taking a vacation, or making home improvements.

    What is the difference between a secured and unsecured personal loan?

    A secured personal loan requires collateral, such as a car or a savings account, to secure the loan. An unsecured personal loan does not require collateral but may have a higher interest rate to compensate for the lack of security.

    Are personal loans taxable?

    No, personal loans are not considered taxable income, as you are borrowing money that you will repay. You do not need to report the loan amount as income when you file your taxes.