Personal Loans in Cochin

  • Bajaj Finance
  • ICICI Bank
  • TATA Capital
  • INDUSIND Bank
  • FULLERTON
  • Shriram City Union
5.0 / 5 (5 Reviews)

Why apply through CreditMantri

Quick and easy approval for Personal Loans in Cochin CreditMantri matches your credit and demographic profile to lender's Personal Loan lending criteria - others just match your demographic criteria. We shortlist lenders willing to lend to you Personal Loans in Cochin, based on our proprietary matching algorithm.

In effect, we pre-screen your application to make sure you are likely to qualify as per the lender’s credit criteria. We upfront check whether you qualify for Personal Loan in Cochin Hence the chances of your Personal Loan application getting approved is higher. We even try our best to help people with low CIBIL Score, get a Personal Loan in Cochin.

max tenure

5 yrs

processing fee

0.5%*

best rate

12.99%*

  • Maximum loan - 20 lakhs
  • Attractive Interest Rates
  • Quick and easy approval process
  • Balance transfer on existing personal loan
  • Interest rate - 12.99% to 23%
  • Processing fee - 0.50% to 2.50% of loan amount
  • KYC – ID proof, DOB Proof, Signature proof & Address proof
  • Bank Statements
  • Residence stability proof
  • Employment stability proof
  • Latest 3 month salary slips / Form-16 / Appointment letter

max tenure

5 yrs

processing fee

2.25%

best rate

14.75%

  • Maximum loan - 25 lakhs
  • 5-minute online personal loan approval and cash in bank in 72 hours
  • Interest rate - 12% to 15%
  • Processing fee - 2.25% to 3% of loan amount
  • Per bounced cheque - 1000/- and 2% penal interest per month
  • Secure fee - 999/- for instant approval online
  • Online application, Employee ID card
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID
  • Address proof (any one) - Passport, Driver's license, Ration card, Mobile bill, Letter from employer
  • Signature proof (any one) - Passport, PAN, Driver's license, Photo credit card, Letter from bank verifying signature
  • Work experience documents - Appointment letter, Form 16, 1 yr old salary slip, same for previous employment

max tenure

5 yrs*

processing fee

999₹*

best rate

11.49%*

  • Maximum loan - 20 lakhs (salaried)
  • Maximum loan - 30 lakhs (self employed)
  • Fixed interest rate
  • Direct credit of the loan amount through Fund Transfer (FT)
  • Simple repayment options such as ECS, AD or PDC
  • Interest rate - 13% to 18%
  • Processing fee - Up to 2.5% of loan amount
  • Application form with 2 photographs , Processing fee cheque
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID
  • Address proof (any one) - Passport,Utility bill, Lease agreement
  • Salaried - Salary slip for 3 months, bank statement with salary credit
  • Self employed - Office address proof, audited financials for last 2 yrs and latest 6 months balance sheet

max tenure

5 yrs*

processing fee

1500₹*

best rate

13.99%*

  • Maximum loan - 15 lakhs
  • Flexi EMIs with Higher Loan Eligibility
  • Minimum Documentation and Verification
  • Quick processing
  • Security or Guarantors not Required
  • Interest rate - 14.5% to 18%
  • Processing fee - 1% to 2% of loan amount
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID, Aadhar
  • Address proof (any one) - Passport, Driver's license, Voter ID, Ration card, Electricity bill, Rent agreement
  • Residence stability proof
  • Employment stability proof
  • Latest 3 month salary slips / Form-16 / Appointment letter

max tenure

4 yrs

processing fee

2%

best rate

17.25% *

  • Personal Loan up to 20 lacs.
  • Easy Repayment over 12 to 48 months.
  • Quick and easy approval process
  • Balance transfer of an existing Personal loan
  • Interest Rate: 17.25% onwards
  • Processing Fee: 2% onwards
  • Application form with a recent photograph
  • ID Proof - Passport Copy/ Voter ID card/ Driving License/ PAN Card
  • Address Proof - Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License
  • Age proof - PAN Card, Passport, any other certificate from a statutory authority
  • Bank Statements (Bank statement / Bank Passbook for last 6 months) OR Last 3 months’ salary slip
  • Form 16
  • Income Tax Returns for last 3 years
  • Processing fee cheque
  • Previous 2 years’ experience letter without any gap (if current work experience < 1 year)

max tenure

3 years

processing fee

2000₹

best rate

28% p.a

  • Faster loan disbursal process
  • Simplified documentation process
  • Repayment through Equated Monthly Instalments
  • Interest rate - 28%
  • Processing fee - 2000₹
  • ID Proof(any one)- Aadhaar card/Pan card/Driving License/Passport/Voter ID
  • Address Proof(any one)-Aadhaar card/Driving License/Passport/Voter Id
  • Post-dated cheque (For 6/12 Months)

Personal Loan in Cochin

Do you live in Cochin? Are you looking for a personal loan in Cochin and wondering what your options are? Read on!

Personal Loans in Cochin

What is a personal loan?

A personal loan is an unsecured loan (meaning you do not have to offer any collateral or security), whose end use could be anything ranging from a personal emergency, to business expenses, to debt consolidation, to funding a dream vacation or to help you through a sudden job loss. Some NBFCs even offer personal loans for CIBIL defaulters in Cochin, although on unfavorable terms and conditions like a high interest rate.

Since a personal loan unsecured loan, is one of the costliest retail loans in the market. The interest rates could go up to as high as 30% or more. Those who have a clean credit history can get a personal loan in Cochin with lower interest rates.

Advantages of a Personal Loan:

  • Quick approvals
  • Over-the-counter loan disbursals with some banks, if you qualify
  • Requires less documentation.
  • No restriction on the end-use of the loan amount
  • No collateral required
  • Can be used as a debt consolidation tool, depending on the existing interest rates

Disadvantages of a personal loan:

  • High interest rate
  • Unfavorable terms and conditions offered to those who are not creditworthy.

Personal Loans in Cochin

All major banks and NBFCs offer personal loans in Cochin. Popular banks and NBFCs that offer personal loans in Cochin include but is not restricted to: ICICI Bank, Axis Bank, SBI, Tata Capital, Bajaj Finance, Shriram Finance, Fullerton, Punjab National bank, TamilNadu Mercantile Bank, Karur Vysya Bank, HDFC Bank, IDBI Bank, Standard Chartered Bank, Citibank, etc. Avail of the best personal loan offers in Cochin if you have a good credit score and a clean credit history

Personal loans in Cochin for salaried, self-employed and business people are available.

Personal Loan in Cochin With Low Interest

Those who have a good credit score are usually the ones offered personal loans at low interest rate. Paying your EMI dues on time helps you build a healthy credit score, and you are able to avail of loans in the future more easily—like for instance, a home loan.

A credit score of 750 or above is generally viewed as a good score. Most lenders look for a minimum score of 750 before deciding whether to proceed with the loan application. The entire loan approval process will be quicker and simplified if you have a healthy credit score.

Is it possible to get a personal loan in Cochin with bad credit?

The possibility of getting a personal loan with bad credit depends on the severity of your credit situation, and your lender’s policies. If you have a high net annual income, then your credit score might be disregarded and you might be approved for a personal loan albeit at high interest rates.

It is recommended that you raise your credit score to a healthy number, like 700 or above, so that you can avail of the loan at competitive terms and conditions.

Eligibility for Personal Loan in Cochin

  • Age criteria: The applicant should be between 21 years to 65 years (at the time of maturity of the loan).
  • Salaried, self-employed, and business professionals are eligible to apply. If you are not a regular wage earner, talk to your bank manager about your situation.
  • Minimum salary for salaried people is typically Rs. 15,000 though the salary requirement depends on what tier of city you live in and the company you work for.
  • Should be staying in the same address / city for at least 1 year
  • Total work experience should be at least 2 years
  • Should have a stable employment history.

You can check your eligibility for a personal loan in Cochin online, on the lender’s website.

Documents Required for Personal Loans in Cochin

For salaried / self-employed professionals:

Following are an overview of the documents generally asked while applying for a personal loan in Cochin:

  • Valid Identity Proof - Passport, Driving License, Voter ID Card, Aadhar Card, PAN Card (any one document to be submitted)
  • Valid Address Proof – Lease/Rent Agreement, Passport, Driving License, Ration Card, Utility bill (not more than 3 months old), Bank Statement
  • Income Proof Documents – Last 6 months salary slip and latest Form 16
  • Bank Statements: Past 6 months bank statement with salary credit
  • Continuity of employment proof, like offer letter, relieving letter, etc.

For the self-employed and those into business, the following might be requested for in addition to the above-mentioned documents.

  • Degree Certificate / educational documents for self-employed professionals.
  • Proof of business existence
  • Last 3 years Income Tax returns (self and business)
  • Last 3 years Profit /Loss and Balance Sheet, duly attested by a CA
  • Any other documents as directed by the Bank or NBFC

Personal Loan in Cochin FAQS

I have already availed a loan from my bank. Do I get any offers from my lender for availing a loan from them again?

Yes, if you are an existing customer, you will get additional benefits like speedy processing and better interest rates.

What is Personal Loan Interest Rate in Cochin?

The interest rate varies with every bank and every customer and depends on various parameters like income, credit history and credit score.

What is the minimum and maximum loan amount for salaried people?

The loan amount varies from as low as a few thousands and could go up to many lakhs.

Do I have to pledge any collateral in order to secure a personal loan?

Generally no collateral or security is required for obtaining a personal loan in Cochin.

How do I repay the loan?

You can repay the loan amount in convenient EMI (Equated Monthly Instalments).

What is an EMI?

EMI stands for Equated Monthly Installment. It is the fixed monthly amount you need to pay your lender to pay off your loan in full. It includes repayment towards the principal amount as well as interest.

What are the options through which I can pay my EMIs?

EMI can be paid through the following easy options:

  • Through cheques
  • Through ECS facility, Standing Instruction to debit your Bank account.

How to apply for Personal loan in Cochin:

There are several ways to apply for a personal loan:

  • You can apply directly online at the bank / NBFC's website;
  • You can go in person to your nearest branch and apply with the required documentation

Need help? Alternatively, if you think you need help with your personal loan application and advice on loan eligibility, then CreditMantri can guide you through the whole process and match you with the loan offer that best suits your unique credit profile.

Customer Reviews

Cochin Personal Loan
5.0 / 5 (5 Reviews)
  • 5/ 5

"Quick approval CreditMantri helps the customer during the entire loan process. This site is basically for loan or card seekers. They give lot of help during the application process and give all details on how to apply and documents needed, till the time we get a credit card or loan. I had applied for a Bajaj Personal loan. They are taking very less time for completing the entire procedure about loans. Must say that I got it without any hassles. Really quick disbursal of my loan amount which was 5 lakhs, with very minimal documents required. I had an issue with my credit rating, which thankfully did not affect my application. Thank you CreditMantri. "

  • 5/ 5

"Fully satisfied Got to know about CreditMantri from Facebook! Happiest discovery I made. I was looking for personal loan offers, and obviously I want the low interest rate. I have got the maximum support from CreditMantri and I am happy with that. Through them, got an ICICI personal loan. They provided me with a host of offers. I honestly can’t point out any negatives in their service, as my experience has been smooth till now. No complaints, fully satisfied."

  • 5/ 5

"Helpful service CreditMantri helps with the customer application to the concerned bank or NBFC, and also provide credit improvement services. Till date, I am not facing any kind of drawbacks while using their services. Got my application processed within a short while and the loan amount in my bank account speedily. I got to know about this website from my friend who also uses its services. The website is very convenient for accessing and getting details about all the loans and offers from different lenders, all in one place. "

  • 5/ 5

"Best place for comparing loan offers I came across CreditMantri during my search for a personal loan. This website provided me all the info I wanted. It is easy to search for loan offer on their CreditMantri than in any other. I would say that the level of service offered by CreditMantri is the best. Got a very good interest rate on a personal loan from IndusInd. For me, they took around two weeks to process and to put the money in my bank account. I had some issues with my documents, but CreditMantri helped me to clear it no time. Keep up the good work!"

  • 5/ 5

"Response plays a significant role when it comes to any business. CreditMantri scores on top in this regard! Service is immediate, and they provide superb guidance. I remember I asked a lot of questions to the customer executive during my first interaction and was perfectly guided on my loan requirement. I am using the site for first time, and I am surprised by their promptness in handling clueless customers. Just a teeny drawback is the Personal loan EMI calculator on their website, which I found to be a bit slow. Apart from this, what more to expect, when you get a personal loan at an excellent interest rate? Bliss."