Highlights

So many of your needs may seem beyond your reach, but a Personal Loan from Commercial Bank is the easiest way to have the lifestyle you preferred.

• Achiever Salary Accountholders, Achiever Current Accountholders, Vibe Savings Accountholders, Flash Digital Bank Accountholders and Anagi Women's Savings Accountholders will receive a 1% reduction from the standard interest rate applicable for Personal Loans.
• Employees who earn a salary above Rs. 200,000/- and Professionals will receive a 2% reduction from the standard interest rate applicable for Personal Loans. 
• Extremely competitive low interest rates.
• Loans to fund any personal requirement you may have.
• Easy and convenient application process.
• Quick loan approval.

Benefits

• Top up facility - You can apply for a renewal of your loan, after repaying a part of the original loan obtained by you. 
• Ability to apply via ComBank Digital - If you are already registered for our ComBank Digital online banking facility, now you can apply for Personal Loans online from where ever you are at a time convenient to you.
• Your loan will be processed within a maximum of three working days, after submitting the loan application with all required documents.
• You can talk to our loan officers for advice and guidance at any time before and during the repayment period of your loan.
  

Purposes

You could obtain a Personal Loan for a variety of purposes,

• Purchase of vehicles.
• Payment of credit card balances.
• Higher education for you or an immediate family member – locally or abroad.
• Fund weddings or other social functions.
• Purchase of computer / computer equipment.
• Purchase of household goods as in furniture, fittings, appliances etc.
• Overseas travel, for business, leisure or education.
• Repairs or extensions to your home.
• Surgical and medical expenses.
• Payment of advance for house rentals.
• Settlement of an existing loan obtained from another financial institution or any other purpose, if proven acceptable to the Bank.

Eligibility

You should be aged between 18 and 60 years.

You need to be a permanent employee of an organization acceptable to the Bank with a minimum of one year in current employment.

Minimum salary or your regular monthly net income should be Rs 100,000/-, to apply for a Personal Loan.

The loan should be fully repaid before the date of retirement.

Your regular income should be directed to an account at Commercial Bank (which could be opened for this purpose) from which the monthly payments could be deducted.

Loan amount

The maximum loan amount you can obtain is flexible, depending on your disposable income, repayment capacity and requirements.

Maximum loan amount - Rs. 5,000,000/-.

Minimum loan amount - Rs. 100,000/-.

Repayment

You have the option of choosing between an equated or a reducing balance payment schemes.

Maximum repayment period of Personal Loans is 5 years. The maximum repayment period will depend on your age and remaining years of service.

Documents required

1. Loan application.  
2. Letter from the employer confirming Employment, Salary & Deductions with the undertaking to the account at Commercial Bank.
3. Bank statements of other banks for the past 06 months, where salary is being credited at present.  
4. Salary slips for past 03 months.
5. Copy of National Identity Card/ Valid Passport/ Valid Driving License. 
6. Address verification documents indicating applicant’s name and address (if applicable). More info >>
7. Guarantor Statements (if applicable).
8. Copy of National Identity Card of the Guarantor (if applicable).
9. Copy of latest salary slip of the Guarantor (if applicable).
10. Address verification documents indicating Guarantor's name and address (if applicable). More info >>
11. Documentary Evidence regarding any Higher Educational / Professional qualifications (If available).

How to apply

Please fill the Loan application form and hand over to the branch with the required documentation.

You can apply for Personal Loans online if you are already registered for ComBank Digital online banking facility.

You can also visit the nearest branch and discuss your requirement with an officer. He will guide you through the loan application process.

Terms & conditions apply

Product information and terms & conditions are subject to change from time to time. Therefore, it is advisable to contact the branch nearest to you for the latest information and prevailing terms & conditions.