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  • Kochi Personal Loan

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  • Cochin is an important port city in Kerala and has a large number of public as well as private banks that offer personal loans at competitive interest rates and long tenures. If you are looking for a personal loan in Kerala, there is a multitude of banks at your service. The interest rates offered by some of these banks start at as low as 10.99% and the repayment tenures are flexible, ranging up to five years.
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    We found 17 Kochi Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.75% - 21.45% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Ad 100% PAPERLESS APPROVAL
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    10.50% - 17.99% Fixed
    0.50% - 3.00%
    30L Max
    1-5 Years
    Ad Accelerated Approval
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    25.00% - 32.00% Fixed
    3.00% + taxes One time fee
    75K - 5L
    Upto 4 years
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    10.99% - 15.49% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
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    18.00% - 36.00% Fixed
    2% - 3% + taxes One time fee
    1L - 5L
    Upto 5 years
    Only KYC docs required
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    11.99% - 25% Fixed
    3%- 6% One time fee
    25L Max
    1-5 Years
    100% PAPERLESS APPROVAL
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    13% - 30% Fixed
    0 Zero Processing Fee
    2L Max
    0 - 4 Years
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.50% - 16.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
    What you'll love
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    Customer Reviews
    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
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    Customer Reviews
    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    100% PAPERLESS APPROVAL
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    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    What you'll love
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    Perks
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    Fees & Charges
    Eligibility Criteria

    Kochi or Cochin is an important port city located on the western coastline of India, along the fringes of the Arabian Sea.On the same note, it is often informally called the ‘Gateway to Kerala’ and taken to be the point to begin the exploration of the deep and profound beauty of the state.

    A personal loan is a kind of unsecured loan which can be used for any purpose that the borrower deems necessary. An unsecured loan is an umbrella term used for loans which do not require collateral. Banks, credit unions, and other financial institutions offer personal loans on an ongoing basis.

    Documentation needed to apply for an Cochin Personal Loan

    • 1. Photo ID and age proof
    • 2. Signed application form with photograph
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:

      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Cochin Personal Loan Interest RatesUpdated on 24 Oct 2019

    Cochin Personal Loan Details
    Interest Rate (Monthly reducing balance) 13.49% - 34%
    Processing Fees 0.5-2.5%
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Personal Loan in Cochin

    One of Kerala’s biggest port cities, Cochin has a population of over two million people. A large number of people who live in Cochin form part of the salaried class, and as a result, tend to take personal loans to meet their personal requirements which they otherwise would not be able to afford through their salaries and savings. Some of the most common reasons for the people of Cochin to avail personal loans include the purchase of vehicles and/or home appliances, home renovation, to pay for their weddings and other major ceremonies, etc. The reasons for the people to avail personal loans are aplenty, and due to their need for credit, personal loans have become not only popular, but also the most easily accessible financial product in the city.

    Personal Loans offered by various Banks in Cochin

    A large number of private and public sector banks as well as non-banking institutions in Cochin are ready to entertain individuals who seek personal credit. Some of the leading institutions in the city include Citibank, South Indian Bank, Tata Capital, Allahabad Bank, Kotak Mahindra, HDFC Bank, IDBI Bank, Canara Bank, Tamilnad Mercantile Bank, Indian Overseas Bank, Vijaya Bank, Bank of Baroda, Standard Chartered, IndusInd, State Bank of India, Oriental Bank, Fullerton, Aditya Birla, Capital First, Bank of India, ICICI Bank, Central Bank, Dena Bank, Indian Bank, Union Bank, Karur Vysya, UCO Bank, Yes Bank, etc. If you’re seeking personal loans in Cochin, the aforementioned institutions are worth considering as they offer the best terms and conditions in the city.

    How to Get a Personal Loan with the Lowest Interest Rate in Cochin

    A few factors require consideration when drafting an application for a personal loan in a manner such that you have access to competitive interest rates. The interest rate applicable to your credit will depend upon the lender from whom you choose to borrow. However, before you try to apply for a personal loan, it is very important to check your creditworthiness. Your credit score is directly proportional to your interest rate in the sense that the higher you’re score, the lower your interest rate and vice-versa. A good credit rating can help you not only avail the amount you require, but will also open the door to availing a relatively low and affordable interest rate. Credit scores that exceed 750 will make it considerably easy for you to get a high amount at a relatively low interest rate. It is also instrumental to carefully assess your financial requirements before drafting an application for a personal loan as borrowing a high amount that you don’t fully need will mean that you will have to deal with paying extra interest. Similarly, borrowing a lower amount and utilising it without meeting your personal requirements will mean that you may end up taking another loan to meet your requirements, thereby paying interest on the second loan as well. Make sure that you have assessed how much money you need as it will help in avoiding unnecessary expenditure towards interest payments.

    Personal Loan Interest Rates in Cochin 2018

    Several major public and private sector banks in Cochin offer personal loans to its residents. Following are the interest rates offered by the top banks for personal loans in Cochin:

    Bank Interest Rate
    Citibank 10.99% to 15.99% (Fixed)
    Standard Chartered 11.25% to 14.49% (Fixed)
    Capital First 12% to 18% (Fixed)
    Tata Capital 11.99% to 19.50% (Fixed)
    ICICI Bank 11.59% to 18.49% (Fixed)
    Oriental Bank 10.85% to 11.85% (Floating)
    HDFC Bank 11.49% to 19.8% (Fixed)
    IndusInd Bank 11.99% to 19% (Fixed)
    Fullerton 17.25% to 37% (Fixed)
    Kotak Mahindra 11.49% to 20.15% (Fixed)
    Aditya Birla 11.5% to 13.25% (Fixed)
    Allahabad Bank 13.10% (Fixed)
    Bank of Baroda 11.35% to 14.35% (Fixed)
    Bank of Maharashtra 12.75% (Fixed)
    Bank of India 13% to 14% (Fixed)
    Canara Bank 12.75% (Floating)
    Central Bank 11.4% (Floating)
    Dena Bank 13% to 14% (Fixed)
    IDBI Bank 12.45% (Floating)
    Indian Bank 12.65% to 13.65% (Floating)
    Indian Overseas Bank 13.65% (Fixed)
    Karur Vysya 13.35% to 15.85% (Floating)
    South Indian Bank 13% (Fixed)
    State Bank of India 12.90% to 14.90% (Fixed)
    Tamilnad Mercantile Bank 14.30% to 16.30% (Floating)
    UCO Bank 11.35% to 11.60% (Fixed)
    Union Bank 14.4% (Floating)
    Vijaya Bank 13.50% (Fixed)
    Yes Bank 14% (Fixed)

    Salary Requirements to avail Personal Loans in Cochin

    Every lender has certain requirements that must be met by individuals who wish to avail a personal loan. Applicants must be either salaried applicants or self-employed individuals and must provide the bank with a proof of income so that the bank can determine whether or not to consider their application. The salaried employees in Cochin are required to earn a monthly salary ranging from Rs.7,500 to Rs.50,000 at least if they wish to take a personal loan. Self-employed individuals on the other hand are expected to provide proof that they earn an income of at least Rs.1 lakh per annum if they are to avail credit.

    Cochin Personal Loan FAQs

    How long will the bank take to approve my application for a personal loan?

    The time taken to approve an application for a personal loan will depend from bank to bank. While some banks approve loan applications with 48 hours, some banks take at least a week. Usually a loan application is approved between two and seven working days.

    How much money can I borrow through a personal loan?

    The lender will determine the limit you have when it comes to taking a personal loan. A number of factors will be considered before the bank approves your application, but loans up to Rs.5 lakhs are disbursed by most banks.

    How do I repay my personal loan?

    The repayment of personal loans can be done in Equated Monthly Instalments (EMIs) via post-dated cheques favouring the bank from which you have availed the loan. You could also link your debit account to your loan in case you borrow from a bank with which you hold a savings bank account and the amount will be deducted automatically.

    Are there any additional charges associated with a personal loan?

    Yes. Almost all banks charge a processing fee ranging from 2% to 2.5% of the amount you wish to borrow, and the fee is generally deducted from the amount disbursed to you.

    Can I get the balance transfer facility in my personal loan?

    It depends on the bank. Some banks offer the balance transfer facility if the customer has paid 12 EMIs. Check with your bank before applying for the loan if they offer the same.

    A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.

        

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    Kochi Personal Loan Reviews

    • HDFC Bank Personal Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I have a personal loan in HDFC BANK and its good. The interest rate is 12% something and the topup loan was credited within 10mintues after the online process. The interest rate is fluctuating and the processing fee is included also they have charged me for an insurance fee.
      Was this review helpful? 0
      , kochi
      Reviewed on Oct 19, 2019
    • Fullerton
      Fullerton Personal Loan
      "Service is Good"
      0.5 4.0/5 "Great!"
      I have applied for the Fullerton Personal loan through Online. I have got all the required details about the loan process through the agent .I have not availed this loan since the rate of interest was high .I have got proper follow up and response from Fullerton as well.
      Was this review helpful? 0
      , kochi
      Reviewed on Oct 13, 2019
    • HDFC Bank Personal Loan
      "Poor profile"
      0.5 4.0/5 "Great!"
      HDFC is a very good bank thats the reason i had applied the loan from HDFC. I applied the amount of Rs. 2 lakhs and till now I'm not aware of the interest rate. I'm not submitted documents but so many times the executive called me to pick the document since I'm busy, i didn't upload my documents.
      Was this review helpful? 0
      , kochi
      Reviewed on Oct 04, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank personal loan through Online .The rate of interest and the processing fee was high and will be getting frequent callback .I have got all the required details about the loan process through the agent .There was good response and acknowledgement from Bank end .
      Was this review helpful? 0
      , kochi
      Reviewed on Sep 29, 2019
    • Fullerton Personal Loan
      "Need overall improvement"
      0.5 4.0/5 "Great!"
      Fullerton rate of interest is huge therefore I don't have interest to take the loan from their end. However I need the principal amount of only Rs. 30,000 but they are providing minimum amount of Rs.50,000 hence I dropped the plan to take loan them.
      Was this review helpful? 0
      , kochi
      Reviewed on Sep 27, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied for HDFC Personal loan as I had a requirement but then I had dropped the application due to I had changed my plans but customer service of the HDFC Bank was very good where they had kept me updated me on my application through out the process.
      Was this review helpful? 0
      , kochi
      Reviewed on Sep 21, 2019
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Bank personal loan which was applied through Online.I have got all the required details about the loan process .I have,I have not faced any issues when applied for this loan and not submitted the documents .I have not taken this loan since there is no requirement.I am very much satisfied with the service .
      Was this review helpful? 0
      , kochi
      Reviewed on Aug 13, 2019
    • HDFC Bank Personal Loan
      "Average Loan service"
      0.5 4.0/5 "Great!"
      They have given me a interest rate which is high. I bought the loan amount of Rs. 5 lakhs and they have sanctioned the loan in 1 week. They do have a pre-closure and partial payment facility. I have chosen the tenure period of 5 years for my personal loan.
      Was this review helpful? 0
      , kochi
      Reviewed on Aug 08, 2019
    • Kotak Personal Loan
      "Overall good"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Kotak Mahindra Bank. The rate of interest is around 12.5% and the processing fee I am not sure about. The process was fast I got the loan on time. The loan is as per my requirement as well. They can improve on the interest rate.
      Was this review helpful? 0
      , kochi
      Reviewed on Aug 07, 2019
    • Kotak Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for Kotak Mahindra Bank personal loan through Online .The agent gave all the information about the loan process.I have got the loan amount on time and it was sufficient as well.The process was very fast and there was no difficulties faced so far .I am totally satisfied with the service .
      Was this review helpful? 0
      , kochi
      Reviewed on Aug 07, 2019
    • HDFC Bank Personal Loan
      "Need to reduce the interest"
      0.5 4.0/5 "Great!"
      The interest rate was comparatively more in HDFC for the personal loan because I have loan from Federal bank it was lower but HDFC was not ready to negotiate the interest. Finally they charged me around 17% for the loan amount of Rs. 2 lakhs it would be great if they provide affordable interest to the customer.
      Was this review helpful? 0
      , kochi
      Reviewed on Aug 05, 2019
    • SBI Personal Loan
      "Good"
      0.5 2.0/5 "Expected more"
      I have state bank of india personal loan amount is Rs 80,000, tenure 3 years EMI Rs 1900, Rate of interest is 8 percentage when compare . No need any documents to submit . its is Insta loan with 5 min immediately credited to my account.customer service better.
      Was this review helpful? 19
      , kochi
      Reviewed on Aug 05, 2019
    • Bajaj Finserv Personal Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I have selected bajaji finserve loan amount 1 lakhs , Tenure 3 rs ,EMI Rs 3200 and Rate of interested less , one time processing fee is applicable.while document submitted executive through on line there is no delay disbursal loan. Customer service is good and responsive.He given clear information about loan process.
      Was this review helpful? 0
      , kochi
      Reviewed on Aug 04, 2019
    • HDFC Bank Personal Loan
      "Need improvement customer servcie"
      0.5 3.0/5 "Satisfactory"
      I have selected HDFC personal loan 1 lakhs Rate of interested is higher Tenure 3 years.one time processing fee is applicable customer service is not good and responsive . Documents is not submitted executive, But i received call from banker end few days before.
      Was this review helpful? 0
      , kochi
      Reviewed on Aug 04, 2019
    • Axis Bank Personal Loan
      "EXCELLENT"
      0.5 4.0/5 "Great!"
      The process was very fast, i got the loan within 10 days. I am using the loan since from last 1 month. The loan amount given was 3.5L, the rate of interest was 11-12% i am getting the EMI of 8500 for this 3.5L. The duration for repaying the loan 5 years.
      Was this review helpful? 5
      , kochi
      Reviewed on Jul 31, 2019
    • HDFC Bank Personal Loan
      "Good Process"
      0.5 5.0/5 "Blown Away!"
      I have personal loan with HDFC, it was taken before one year. They approved Rs. 1 lakh for the duration of three years, the interest rate was normal as per other competitor. The customer support is good they have initiated the loan process on time.
      Was this review helpful? 6
      , kochi
      Reviewed on Jul 27, 2019
    • Ujjivan Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for Ujjivan Small Finance Bank limited personal loan through Online .I have not taken this loan since got the amount from some other source.I have got all the required information about the loan process .There was no issues on rate of interest and the processing fee .
      Was this review helpful? 2
      , kochi
      Reviewed on Jul 15, 2019
    • IDFC Bank Personal Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      The documentation process was easy and simple i got the loan amount within 7-10days. The loan amount given was good, rate of interest was nominal. I am using the loan from last 3 months duration for repaying w 4 years, processing fee was applicable.
      Was this review helpful? 0
      , kochi
      Reviewed on Jul 12, 2019
    • Kotak Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been applied for personal loan with Kotak mahindra bank through on line, their service was good, they use to response me well, but i closed my application because that time i did not had much documents available with me so i said them to close the application.
      Was this review helpful? 0
      , kochi
      Reviewed on Jul 10, 2019
    • review Personal Loan
      "Average Loan"
      0.5 3.0/5 "Satisfactory"
      I took my personal loan from Bajaj Finance. They are keep on increasing the personal loan from Rs. 50000 to 3 lakhs. Once my loan is over, they are keep on calling me asking me for the loan offer. In so many year, once my cheque got bounced due to the bank balance is less, after that i haven't received any call from them.
      Was this review helpful? 2
      , kochi
      Reviewed on Jul 06, 2019
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