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Syndicate Personal Loan Calculator

Syndicate Bank Personal Loan EMI Calculator, Jul 2021

Last Updated 15th Jul 2021

  • Personal loan EMI in Syndicate Bank depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.
  • Syndicate Bank Personal Loan EMI Calculator is an online tool to estimate monthly EMI and its division into principal and Interest during the entire loan tenure.
  • Lowest monthly EMI is ₹ 2,245 per lakh on Syndicate Bank personal loan as calculated using the lowest interest rate of 12.40% for the longest tenure of 60 months.
  • For example, the table below gives the EMIs on Syndicate Personal Loan at different loan amounts and loan tenure, if taken at the lowest rate.
Loan Amount1 Year Loan3 Year loan5 Year loan
₹ 1 Lakh₹ 8,904₹ 3,341₹ 2,245
₹ 5 Lakh₹ 44,518₹ 16,703₹ 11,224
₹ 10 Lakh₹ 89,036₹ 33,406₹ 22,447

Syndicate Bank has merged into Canara Bank on April 1, 2020. The interest rates of Canara Bank will now be applicable on Syndicate Bank Personal Loan.

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Personal Loan EMI Calculator Syndicate

Syndicate Bank Personal Loan EMI is a fixed amount of money paid by you to Syndicate Bank based on your loan amount, tenure and interest rate. Every month, it is due on a fixed day of the month till the loan is fully paid back. You can calculate your Syndicate Bank personal loan EMI in advance, to plan your loan payments and further expenses, using the Personal Loan EMI Calculator Syndicate. The calculator functions on a mathematical algorithm and gives accurate results in no time.

Why should you use Syndicate Bank Personal Loan EMI Calculator?

  • Calculate the EMI within your budget: Helps you compare the EMIs with a different loan amount and tenure. Always talk to the bank to know the interest rate you will be eligible for Syndicate Bank personal loan which can range between 12.40% to 13.90%.
  • Compare Syndicate Bank personal Loan EMI: Helps you compare the estimated EMI on a personal loan from Syndicate Bank with that of leading banks in India using the same loan amount of upto ₹ 2 Lakh for a maximum tenure of 60 months, but at different interest rates.
  • Calculate interest on Syndicate Bank personal loan: You can calculate the split of total EMIs into interest and principal repayment on your loan from Syndicate over the loan tenure.
  • Detailed amortisation schedule: This allows you to see the pace at which your principal amount will be repaid during the loan tenure month on month. This is helpful if you decide to prepay your loan at Syndicate or balance transfer to another bank.

Syndicate Bank Personal Loan EMI Calculator to Estimate the EMI that Fits your Budget

Input different loan amounts and tenure at the eligible interest rate on Syndicate Bank Personal Loan EMI calculator to calculate various EMIs at different rates and tenure. The table captures the calculation of Syndicate Bank Personal Loan EMI Calculation at the various combinations of loan amount and years when taking at the lowest rate of 12.40%. So if you think that you can afford to pay an EMI of ₹ 10,000 in your budget, taking a ₹ 3 Lakh loan for 3 years or ₹ 5 Lakh loan for 5 years, maybe the right Syndicate Bank personal loan plan for you.Personal Loan EMI is calculated for Syndicate for different loan amounts and tenures at the rate of 12.40%.

Loan Amount (Rs.)2 Years3 Years5 Years
1 Lakh ₹ 4,726 ₹ 3,341 ₹ 2,245
3 Lakh ₹ 14,178 ₹ 10,022 ₹ 6,734
5 Lakh ₹ 23,630 ₹ 16,703 ₹ 11,224
10 Lakh ₹ 47,260 ₹ 33,406 ₹ 22,447

Factors Affecting Syndicate Bank Personal Loan EMI

  • Loan amount – You will pay a higher EMI for the higher loan amount. Syndicate Bank gives a minimum loan of ₹ 50,000 and a maximum loan amount of ₹ 2 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. Syndicate Bank personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by Syndicate Bank is 12.40%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period over which you can repay your loan in Syndicate Bank. So, your EMI will be lower if you take a 60months loan from Syndicate Bank as compared to a loan taken for 12months. The logic being that if you get a longer period to repay, you can repay in a smaller instalment.

Comparison of Syndicate Bank Personal Loan EMI with other Banks

Bank Name Interest Rate Loan Amount of ₹ 1 Lakh Loan Amount of ₹ 5 Lakh Loan Amount of ₹ 10 Lakh
Syndicate Bank12.40% ₹ 8,904 ₹ 44,518 ₹ 89,036
Canara Bank 12.40% ₹ 8,904 ₹ 44,518 ₹ 89,036
Bajaj Finserv 12.99% ₹ 8,931 ₹ 44,656 ₹ 89,313
Axis Finance 13.00% ₹ 8,932 ₹ 44,659 ₹ 89,317
RBL Bank 14.00% ₹ 8,979 ₹ 44,894 ₹ 89,787

Syndicate Bank Personal Loan Amortization Calculator

Syndicate Bank Personal Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Syndicate Bank gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 3 Lakh for 5 years from Syndicate Bank at an interest rate of 12.40%. EMI calculated for this loan amount is ₹ 6,734 and the total annual EMIs to be paid annually is ₹ 80,810. The EMI schedule of loan for 5 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 3 Lakh over the 5 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 18,029 ₹ 22,376 ₹ 40,405 ₹ 2,77,624
2022 ₹ 31,696 ₹ 49,113 ₹ 80,810 ₹ 2,28,511
2023 ₹ 25,248 ₹ 55,562 ₹ 80,810 ₹ 1,72,949
2024 ₹ 17,953 ₹ 62,857 ₹ 80,810 ₹ 1,10,092
2025 ₹ 9,700 ₹ 71,110 ₹ 80,810 ₹ 38,983
2026 ₹ 1,422 ₹ 38,983 ₹ 40,405 -₹ 0

In the above illustration, on a Syndicate Bank Personal Loan of₹ 3 Lakh, taken at the lowest interest rate of 12.40, EMI paid is ₹ 6,734 and an annual total of EMIs is ₹ 80,810, the interest component is ₹ 34,634 while the principal component is ₹ 46,175 in year 1 of loan disbursement. You repay only 15.39% of the total principal after paying 12 EMIs during the first year.

Syndicate Bank Personal Loan Interest Calculator Formula

Syndicate Bank calculates personal loan EMI based on the following formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Syndicate Bank Personal Loan EMI is calculated:

In the above formula,

P = Loan amount.Syndicate Bank personal loan amount can range from ₹ 50,000 to ₹ 2 Lakh.

r = Rate of interest per month. The current Syndicate Bank Personal Loan rate is 12.40%.
n = Tenure in month. This can range up to 60months in case of Syndicate Bank.

How to use Syndicate Bank Personal Loan EMI Calculator

  • Syndicate Bank personal loan calculator are online tool which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • Syndicate Bank EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears meaning interest is charged for the month preceding the EMI payment date and not in advance.

Syndicate Bank Personal Loan EMI for ₹ 1 Lakh

The following table shows Syndicate Bank Personal Loan EMI for ₹ 1,00,000 for different tenures at an interest rate of 12.40%

Loan AmountInterest RateTenure(Year)EMI
₹ 1,00,00012.40% 1₹ 8,904
₹ 1,00,00012.40% 2₹ 4,726
₹ 1,00,00012.40% 3₹ 3,341
₹ 1,00,00012.40% 4₹ 2,653
₹ 1,00,00012.40% 5₹ 2,245

Syndicate Bank Personal Loan EMI for ₹ 3 Lakh

The following table shows Syndicate Bank Personal Loan EMI for ₹ 3,00,000 for different tenures at an interest rate of 12.40%.

Loan AmountInterest RateTenure(Year)EMI
₹ 3,00,00012.40% 1₹ 26,711
₹ 3,00,00012.40% 2₹ 14,178
₹ 3,00,00012.40% 3₹ 10,022
₹ 3,00,00012.40% 4₹ 7,959
₹ 3,00,00012.40% 5₹ 6,734

Syndicate Bank Personal Loan EMI for ₹ 5 Lakh

The following table shows Syndicate Bank Personal Loan EMI for ₹ 5,00,000 for different tenures at an interest rate of 12.40%.

Loan AmountInterest RateTenure(Year)EMI
₹ 5,00,00012.40% 1₹ 44,518
₹ 5,00,00012.40% 2₹ 23,630
₹ 5,00,00012.40% 3₹ 16,703
₹ 5,00,00012.40% 4₹ 13,265
₹ 5,00,00012.40% 5₹ 11,224

Syndicate Bank Personal Loan EMI for ₹ 10 Lakh

The following table shows Syndicate Bank Personal Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 12.40%.

Loan AmountInterest RateTenure(Year)EMI
₹ 10,00,00012.40% 1₹ 89,036
₹ 10,00,00012.40% 2₹ 47,260
₹ 10,00,00012.40% 3₹ 33,406
₹ 10,00,00012.40% 4₹ 26,531
₹ 10,00,00012.40% 5₹ 22,447

How to Pay Syndicate Bank Personal Loan EMI?

There are various online & offline methods to pay your Syndicate Bank Personal Loan EMI. To repay your Syndicate Bank EMI online, you can log in to your net banking account or else you can also use the mobile banking of Syndicate Bank. Syndicate Bank also allows you to pay EMI through ECI or standing instructions or a cheque facility by visiting the nearest Syndicate Bank branch.

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FAQs

Why should I calculate Syndicate loan EMI before taking a loan?

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your Syndicate Bank personal loan EMI as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount that fits your monthly budget and makes EMI easily affordable
  • If you already know the EMI you have to pay each month, then you can plan your expenses accordingly
  • Based on the EMI amount, you can opt for making prepayment of your personal loan in future when you have a surplus amount

What is the lowest EMI per lakh offered by Syndicate Bank on a personal loan?

Syndicate Bank offers a personal loan at a 12.40% interest rate for a maximum of 60 months, and hence lowest EMI per lakh loan amount is ₹ 2,245. However, Syndicate Bank may offer a lower interest rate and EMI for their salary account holders or existing bank customers can vary.

How can I pre-close Syndicate Bank personal loan?

You can pre-close your Syndicate Bank personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of the balance amount that you have paid.

What are the prepayment charges on Syndicate Bank ?

Syndicate Bank offers you an option of prepayment after 0 months at Nil prepayment charges.You have to pay these charges if you decide to pay the loan amount before the due date.

Is there any processing charge on a personal loan from Syndicate Bank?

Yes, Syndicate Bank charges a certain amount of processing fee to process your loan application. Currently, Syndicate Bank charges a processing fee of 0.5%, Min Rs. 500 on a Personal Loan.

Will I get a personal loan from Syndicate Bank if I have a bad credit score?

No, for taking a loan from Syndicate Bank, you must have a good credit score of 700 and above. Usually, most banks avoid giving loans if you have a low credit score.Also, availing a personal loan at low cibil score might fetch you a high Syndicate Bank personal loan rate.

What is the EMI for a₹ 20 Lakh personal loan in Syndicate Bank Bank?

At the current rate of 12.40%, EMI on Syndicate Bank personal loan for loan amount ₹ 20 Lakh varies based on the loan tenure. For instance, for 2 year, 3 year and 6 years, EMI is ₹ 1,83,716, ₹ 1,95,526 and ₹ 2,33,245 respectively.

Can I have a co-applicant while applying for a Personal loan with Syndicate Bank ?

Yes, you can opt for a co-applicant to take a personal loan from Syndicate Bank that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in Syndicate Bank personal loan?

If you have funds, then you can pay more than the regular EMI on your Syndicate Bank Personal Loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my Syndicate Bank loan EMI?

You can pay the Syndicate Bank personal Loan EMI by using the ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque or can opt for automated deductions from your salary account.

Compare Personal Loan EMI of All Banks

Syndicate Bank Personal Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 1800-425-0585
Ahmedabad 1800-425-0585
Ambala 1800-425-0585
Anand 1800-425-0585
Aurangabad Bihar 1800-425-0585
Bangalore 1800-425-0585
Bhilai 1800-425-0585
Bhilwara 1800-425-0585
Bhiwadi 1800-425-0585
Bhopal 1800-425-0585
Bhubaneswar Cuttack 1800-425-0585
Bikaner 1800-425-0585
Chandigarh 1800-425-0585
Chennai 1800-425-0585
Cochin 1800-425-0585
Coimbatore 1800-425-0585
Dehradun 1800-425-0585
Delhi 1800-425-0585
Durg 1800-425-0585
Faridabad 1800-425-0585
Gandhinagar 1800-425-0585
Ghaziabad 1800-425-0585
Goa 1800-425-0585
Greater Noida 1800-425-0585
Gurgaon 1800-425-0585
Guwahati 1800-425-0585
Gwalior 1800-425-0585
Hyderabad 1800-425-0585
Indore 1800-425-0585
Jabalpur 1800-425-0585
Jaipur 1800-425-0585
Jalandhar 1800-425-0585
Jodhpur 1800-425-0585
Kanpur 1800-425-0585
Karnal 1800-425-0585
Kolhapur 1800-425-0585
Kolkata 1800-425-0585
Kota 1800-425-0585
Kozhikode 1800-425-0585
Lucknow 1800-425-0585
Ludhiana 1800-425-0585
Madurai 1800-425-0585
Meerut 1800-425-0585
Mehsana 1800-425-0585
Mohali Sas Nagar 1800-425-0585
Mumbai 1800-425-0585
Mussoorie 1800-425-0585
Nagpur 1800-425-0585
Nashik 1800-425-0585
Noida 1800-425-0585
Noida Extn 1800-425-0585
Panipat 1800-425-0585
Patna 1800-425-0585
Pondicherry 1800-425-0585
Pune 1800-425-0585
Raipur 1800-425-0585
Rajkot 1800-425-0585
Ranchi 1800-425-0585
Rohtak 1800-425-0585
Roorkee 1800-425-0585
Salem 1800-425-0585
Shimla 1800-425-0585
Sonipat 1800-425-0585
Surat 1800-425-0585
Trichy 1800-425-0585
Udaipur 1800-425-0585
Vadodara 1800-425-0585
Varanasi 1800-425-0585
Vijaywada 1800-425-0585
Vizag 1800-425-0585

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Syndicate Personal Loan News - Jul 2021
  • 2021-07-15 : Syndicate Bank merged with Canara Bank - IFSC and SWIFT code changed
    After the merger of Syndicate and Canara Bank, the IFSC codes for erstwhile Syndicate Bank customers will be changed from July 1 this year. Existing Syndicate Bank customers will have to use their new IFSC codes for online transactions through NEFT, RTGS or IMPS routes.
  • 2020-02-12 : Syndicate Bank reported a Q3 of Rs. 435 crores
    Syndicate Bank Q3 profit soared to Rs. 434 crores for the current financial year. Total income grew to Rs. 6,316 crores driven partially by retails loans like Home Loan, Personal Loan and Busines Loan. Further, the gross bad loans came down to 11.33% for the quarter ending December.
  • 2019-08-28 : Syndicate Bank partners with Bajaj Allianz Life insurance
    Syndicate bank gets in a partnership with Bajaj Allianz Life insurance to provide valuable solutions to its customers. Any syndicate bank customers could avail life insurance across all its branches. Further, the initiative to boost customer satisfaction could be an attempt to engage more customers in other syndicate bank products like personal loans.
  • 2019-02-27 : Syndicate Bank to offer shares to employees at discounted rates
    Public sector lender, Syndicate Bank has proposed to launch the Employee Share Purchase Scheme (ESPS) in the first week of March at discounted rates this year. The discount will range from 23 to 25% based on the employee’s status in the hierarchy. The lender is also expecting to settle all its stressed loans to improve its performance and the quality of its banking services. In addition to this, the bank also has plans to achieve a significant growth across its retail loan including personal loans, gold loans and business loans.
  • 2019-02-05 : Syndicate Bank profit stands at Rs. 108 crores this year
    Syndicate Bank has announced a net profit of Rs. 108 crore during the October-December quarter of the financial year 2018-19. The bank’s CASA (current and savings account) percentage for domestic deposits increased to 34.96% during the December quarter of FY19 from 33.49% during the September quarter. The credit portfolio of the bank has also reported an increase across its retail loans segment including small business loans, personal loans and gold loans.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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