Consolidation Loans from CSB Bank
Multiple loan schemes for paying off debt.
CSB Bank, previously known as Catholic Syrian Bank, offers a range of financial products to different segments of its customer base. The bank offers a range of loans right from housing loans to business loans to help its retail as well as corporate customers get the financial assistance they need.
CSB Bank Consolidation Loans
A consolidation loan helps customers consolidate their debts into one with terms best suited for their needs. It can be an unsecured loan like a personal loan or a secured loan like a loan against property, gold, securities, etc.
These loan schemes help make the repayment of debts easier since the outgoing payments get consolidated into one and the borrower does not have to worry about multiple loans or credit card payments going on different days each month. In addition to making life easier, it can reduce the overall debt burden if the borrower chooses the right consolidation loan scheme in terms of interest rate, repayment period, etc.
Please note that CSB Bank does not label any loan scheme as a consolidation loan. However, a few loan schemes can be used for the purpose of consolidating debts even if they are not directly labelled so. Here are some of the loan schemes offered by CSB Bank that you can avail as a consolidation loan:
- CSB Personal Loan
- CSB Casy Cash Scheme
- CSB Casy Mithra
- CSB Bank General Gold Loan
- CSB Bank Overdraft Gold Loan
- CSB Bank Double Power Gold Loan
- CSB Bank Property Encash Loan (Mortgage Loan)
- CSB Bank Home Plus Support Scheme
We give you a brief introduction to each of these consolidation loans below. In addition, you have the option to click further and read in detail about each loan (the link takes you to another page on our website). This specific page has been specifically designed so that you can get all the information you need on that loan in an uncluttered and easy-to-read format.
Please note that in some cases information is less or simply not available. In such instances, we have not been able to create a page on that loan as yet, but we may do so in the future if information becomes available.
CSB Bank Personal Loan Scheme
This loan scheme helps borrowers to get funds to meet their personal needs such as expenses for a child’s wedding, domestic and foreign travel, medical emergency, etc. Borrowers can also avail this loan scheme as a consolidation loan to pay off their debts. The bank also offers specialised personal loan schemes for doctors, engineers, CAs, lawyers, senior citizens, women, etc. We suggest talking to a bank representative to get more information about these special schemes since the details are not mentioned on the bank’s website.
Features of CSB Bank Personal Loan
Why this Loan?
- The CSB Bank Personal Loan is designed to help salaried employees of reputed organisations get financial assistance to meet their personal needs. Borrowers can also avail this loan scheme to pay off their debts
- This is an unsecured loan, meaning you don’t have to offer any collateral to get the loan
CSB Bank Casy Cash Scheme
This loan scheme helps salaried as well as self-employed borrowers get financial assistance to meet their personal needs. This loan can be availed to meet expenses for a child’s wedding, travel, medical emergency, debt consolidation, etc. This is the perfect loan scheme to deal with small financial crunches.
Features of CSB Bank Casy Cash Scheme Personal Loan
Why this Loan?
- The CSB Bank Casy Cash Personal Loan Scheme is designed to help individuals who have a regular source of income get financial assistance to meet their personal needs
- Borrowers can also avail this loan scheme to pay off their debts
- The bank offers collateral-free loans up to Rs. 1 lakh
CSB Bank Casy Mithra Scheme
This loan helps salaried and non-salaried individuals get funds to meet their personal needs such as expenses for a child’s wedding, domestic and foreign travel, medical emergency, etc. Borrowers can also avail this loan scheme as a consolidation loan to pay off their debts. The loan amount sanctioned is a multiple of the borrower’s income/salary.
Features of CSB Casy Mithra (Personal Loan)
Why this Loan?
- The CSB Bank Casy Mithra Loan is designed to help individual borrowers get financial assistance to meet their personal needs. Borrowers can also avail this loan scheme to pay off their debts
- This is a collateral-free loan
- The loan amount to be sanctioned is decided by the bank on a case-to-case basis up to a maximum of Rs. 25 lakh
CSB Bank General Gold Loan
This scheme helps borrowers access funds by pledging their gold jewellery or gold coins. This loan can be used to meet any financial needs such as a wedding, overseas travel, higher education, etc. as well as to consolidate high-interest debts. The maximum loan amount sanctioned under this loan is Rs. 10 lakh.
Features of CSB Bank General Gold Loan (Loan Against Gold Jewellery)
Why this Loan?
- The CSB Bank General Gold Loan is meant for borrowers who want to get funds by pledging gold jewellery or gold coins to meet their financial needs
- This loan scheme can also be availed by borrowers as a consolidation loan to pay off their high-interest credit card debts and loans
- The bank offers attractive interest rate on this loan with flexible repayment terms
CSB Bank Overdraft Gold Loan
This overdraft facility, previously known as CSB Kanakadhara scheme, helps borrowers access funds by pledging their gold jewellery or gold coins. This loan can be used to meet any financial needs such as a wedding, overseas travel, higher education, etc. as well as to consolidate high-interest debts.
Features of CSB Bank Overdraft Gold Loan
Why this Loan?
- The CSB Bank Overdraft Gold Loan is meant for borrowers who want to get funds by pledging gold jewellery or gold coins to meet their financial needs. It can also be availed by borrowers as a consolidation loan to pay off their high-interest credit card debts and loans
- The tenure for this scheme is 12 months. The bank offers renewal of overdraft facility every year if the borrower renews the account
CSB Bank Double Power Gold Loan
This special gold loan helps borrowers access funds by pledging their gold jewellery or gold coins. This short-term loan scheme can be used to meet any financial needs such as a wedding, overseas travel, higher education, etc. as well as to consolidate high-interest debts. The maximum loan amount sanctioned under this loan is Rs. 50 lakh.
Features of CSB Bank Double Power Gold
Why this Loan?
- The CSB Bank Double Power Gold Loan is meant for borrowers who want to get funds by pledging gold jewellery or gold coins to meet their financial needs. This loan scheme can also be availed by borrowers as a consolidation loan to pay off their high-interest credit card debts and loans
- The bank offers attractive interest rate of 13.00% per annum
- This loan must be repaid within 5 months as one-time payment at the end of the term
CSB Bank Property Encash Loan (Mortgage Loan)
This loan helps borrowers get access to funds by pledging their residential or commercial property to the bank to meet their urgent financial needs such as wedding expenses, foreign travel expenses, medical exigencies, higher education, etc. This loan can also be repurposed into a consolidation loan to pay off high-interest debts.
Features of CSB Bank Property Encash Loan (Loan Against Property)
Why this Loan?
- The CSB Bank Property Encash Loan is meant for borrowers who want to avail financial assistance by pledging their residential or commercial property to the bank to meet their urgent financial needs
- The bank also offers this loan against land with or without property. However, agricultural land is not accepted as security
- Borrowers can also avail this scheme as a consolidation loan to pay off their debts
CSB Bank Home Plus Support Scheme
This loan helps home loan borrowers get the funds to meet their personal needs. It can also be used to consolidate high-interest debts. This loan cannot be availed for speculative reasons. The interest rate applicable to this loan scheme can range from 8.95% to 10.55%.
Features of CSB Bank Home Plus Support Scheme
Why this Loan?
- The CSB Bank Home Plus Support Scheme is a top-up loan scheme meant for home loan borrowers to help them get financial assistance for personal needs. Borrowers can also avail this scheme as a consolidation loan and pay off their debts
- All existing CSB Bank home loan borrowers are eligible for this loan
Important Note: CSB Bank may offer more consolidation loan options that are not yet published on the website. If you prefer we suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, strategic premium, etc. may be decided on a case-to-case basis.
Interest Rate for CSB Bank Consolidation Loans
- The applicable interest rate on these loans is defined as the sum of two factors namely, one-year Marginal Cost of Funds based Lending Rate (MCLR) and Spread. As of October 2020, the one-year MCLR of CSB Bank is 9.50%. The Spread factor is decided by the bank based on the loan type, quantum of loan and credit score of the borrower
Documents Needed for Individuals (Salaried and Self-employed)
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
- Income/Banking Proof for Self-employed Professionals/Self-employed Non Professionals: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan/ Form 26AS/TDS Certificate, IT Assessment, etc.
Reference Facts:
- CSB Bank Website: www.csb.co.in and www.csbnet.co.in (net banking)
- Headquarters: Thrissur, Kerala
- Call Centre Toll-Free Number: 1800 266 9090, 0422 6612300, 0422 2228422