CreditMantri Finserve Private Limited
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While applying for personal loans at banks and NBFCs in Coimbatore, you wouldn’t need collateral. No restriction on the end-use of the loan amount. Get speedy approvals and over-the-counter loan disbursals. Check offers now on CreditMantri!
24 to 48 Months.
Your application will be subjected to Bureau Enquiry.
6 - 36 Months.
12 - 60 Months.
3 - 60 Months
2% - 5%
12 - 72 Months.
2 - 60 months
6 to 36 Months.
up to 6 years
Personal loans in Coimbatore for salaried, self-employed and business people are available.
Range of Interest rate
Range of processing fee
Starting from 10.25%
Upto Rs. 40,00,000
1 to 5 years
Up to 2.50%
Shriram City Union Personal Loan
11.49% p.a. to 23% p.a.
1 to 3 years
As per the loan agreement
Starting from 10.49%
Upto 5 years
1.5% to 2% of loan amount +GST
Fibe (Formerly EarlySalary) Personal loans
Starting at 12% p.a.
Upto Rs. 500000
3 to 24 months
2% to 3% of the loan amount
20.00% - 22.00%
Rs.50K - Rs.2L
1 to 3 years
Finzy personal loans
Starting at 7.99%
6 to 36 months
2% to 5%
Faircent Personal loans
12 to 28%
Rs. 30,000 to 7.5 Lakhs
6% to 8% of the loan amount plus GST
Muthoot Personal Loan
14.5% per annum onwards
Rs. 50,000 to Rs. 10,00000
2% to 4% of the loan amount
Axis Bank gives personal loans in Coimbatore at flexible repayment tenures and low interest rates.
A personal loan is an unsecured loan that does not require any collateral or security. So, having a good credit score is crucial to apply for a personal loan in Coimbatore. If your credit score is high, the chances of loan approval are also high.
Also, you will land up with very high interest rates and unfavorable loan terms. You will have very few lenders for credit scores in the range of 550 to 650 and absolutely no lenders for credit scores in the range of 500 to 650. It is recommended to improve your credit score before you apply for a personal loan in Coimbatore to improve your chances of getting one.
Don’t worry if your credit score is low, we at CreditMantri can help you improve your credit score with our expert tips and help you get the best personal loans.
You can check your eligibility for a personal loan in Coimbatore on the lender’s website.
For salaried/self-employed professionals:
These are the documents generally asked while applying for a personal loan in Coimbatore:
For Salaried Employees
1. On CreditMantri
Step 1: Click on ‘Check Eligibility’ for the lender you want to apply. If you want to read more about the loan, click on know more.
Step 2: Fill in details like email ID, Mobile number, city, employment type, residence pin code, and info about any loans that you may have.
Step 3: Tick all checkboxes for agreement terms.
Step 4: Click on “Submit”
Step 5: Key in the OTP received on your registered mobile number.
Step 6: Proceed with the rest of the application and your application will be processed instantly
2. Online on the Lender’s Website
3. Offline application
The following factors help in getting personal loans with low interest rates.
Credit score: Banks offer low interest rates for a good credit score. Any credit score above 750 is considered good.
Credit Score Range and Interpretation
The credit score has to be improved. Indicates poor creditworthiness. No lenders. Even if you get loans, interest rates will be exorbitantly high.
The credit score has to be improved. There are very few lenders. Low creditworthiness. High-interest rates.
Better interest rates, most lenders will be willing to lend, fair creditworthiness, but can still work to improve
highly creditworthy, preferential interest rates, all lenders available, quick loan approval
Check for special offers: Banks and NBFCs give special offers for select customers based on their credit profile relationship with the bank. So, keep checking for these offers to avail of them.
Debt-to-income ratio - The debt-to-income ratio is crucial to getting low interest rates. It is the amount of money towards debt divided by your total income. Generally, experts recommend a debt to income ratio within 40% as ideal for low interest rates.
Negotiate: You can negotiate with lenders, especially if you have transacted with them in the past and have a good credit history with them, for lower interest rates.
Down Payment: If you make a down payment for 20% of the loan amount, then you will get better interest rates on your loan.
Personal loan applicants in Coimbatore can check the status of their application through various ways - online through the lender’s website, netbanking, calling customer care, and visiting the bank’s branch.
Lenders have a dedicated customer care service to help consumers resolve their queries, raise any issues, or give feedback. Some of the modes through which you can contact customer care include
1. What is Personal Loan Interest Rate in Coimbatore?
The interest rate varies with each lender and each customer and depends on various parameters like income, individual credit history and credit score.
2. 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.
3. Do I have to pledge any collateral in order to secure a personal loan?
No collateral or security is required for obtaining a personal loan in Coimbatore.
4. How do I repay the loan?
You can repay the loan amount in convenient EMIs (Equated Monthly Instalments).
5. What is an EMI?
EMI stands for Equated Monthly Installment. It is the fixed monthly amount you need to pay your lender. It includes principal amount as well as interest.
6. 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 an Instant Loan or at the least, a speedy loan approval process and better interest rates.
7. Can I obtain a loan without documents?
Individuals who do not have the correct documents can get a loan from a bank or NBFC with which they have transacted already. You should have had a good credit history with them. This way, you can get a loan with ease as they already have your details and trust you.
8. What are the things you should ask yourself before taking a personal loan?
Things to ask yourself before taking a personal loan are, what do I need to take out a loan, how long will it take to get the money?How do I know what my current credit score is? What is the interest rate on my loan? How does the loan repayment work? What is the loan term?
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application