Multiple banks. Different interest rates. Call it a "conflict of interest".
  • loading

    Coimbatore Personal Loan

    Kovai as it is also called, Coimbatore is home to several different banks that cater to a diverse customer base of people seeking personal loans and other financial products. One of Tamil Nadu’s major cities, Coimbatore has a plethora of banks and financial institutions that offer personal loans for as low as 11% interest and tenures as long as 5 years. With minimal documentation and paperless approval, you can get a personal loan instantly.
    More
    We found 33 Coimbatore Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.75% - 18.00% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 17.99% Fixed
    0
    30L Max
    1-5 Years
    Accelerated Approval
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Customer Reviews
    20% - 22%  Fixed
    2.50%
    2L Max
    1-3 Years
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    11.25% - 21.50% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.25% - 19.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria
    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.5% - 13.5% Fixed
    1% + applicable tax One time fee
    2L - 25L
    1-5 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12.49% - 33% Fixed
    6.0% One time fee
    15L Max
    1-4 Years
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Coimbatore Personal Loan is Rated as "Great!" by 1470 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Coimbatore also called Kovai, is a prominent city in the state of Tamil Nadu. This city is a pretty and pleasant place with modern amenities. This city is surrounded by the beautiful Western Ghats. It is a popular hub for a number of sectors including healthcare, education, textiles, commercial activities, and information technology. The population of Coimbatore is around 16 lakh as of now.

    In case you are looking for financial support for any of your personal requirements, you can apply for an economical personal loan in Coimbatore. The city has many prominent lenders that provide trustworthy personal loans at competitive interest rates. Personal loans are usually unsecured loans. However, if you want a lower rate of interest, you could apply for a secured loan by securing it against your shares, gold, or even mortgage.

    Documentation needed to apply for an Coimbatore 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

    Coimbatore Personal Loan Interest RatesUpdated on 26 Jun 2019

    Coimbatore 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 loans in Coimbatore

    Coimbatore has a lot of banks and NBFCs that offer personal loans to customers. There are two types of personal loans namely, secured loans and unsecured loans. While most banks offer secured personal loans with much ease, they follow stringent procedures for sanctioning unsecured loans. Few of the leading banks in Coimbatore offering personal loans to customers include HDFC Bank, ICICI Bank, Axis Bank, State Bank of India, etc. It is advisable that you compare the personal loan offerings of different banks before making a final decision.

    Personal Loans offered by Various Lenders in Coimbatore

    A few of the top lenders that offer personal loans in the city of Coimbatore include:

    • City Union Bank Ltd
    • Bank of Punjab
    • UCO Bank
    • IndusInd Bank
    • Kotak Mahindra Bank
    • Kosamattam Finance
    • Oriental Bank of Commerce
    • State Bank of India (SBI)
    • Unit Trust of India
    • Karur Vysya Bank
    • Indian Overseas Bank
    • ING Vysya Bank
    • Standard Chartered Bank
    • Dena Bank
    • Deutsche Bank
    • Tata Capital
    • Citibank
    • Andhra Bank
    • Canara Bank
    • IDBI Bank
    • Aditya Birla
    • Vijaya Bank
    • ICICI Bank
    • Axis Bank
    • HDFC Bank
    • Syndicate Bank
    • Punjab National Bank
    • Corporation Bank
    • South Indian Bank
    • Karnataka Bank
    • Federal Bank
    • Tamilnad Mercantile Bank

    How do I get a Personal Loan with the lowest interest rate in Coimbatore?

    Generally, people apply for unsecured personal loans where they maintain their salary account or savings account to have higher chances of loan approval. But if you have a good credit history then it is recommended that you compare the loans products of different banks before choosing any particular one. A number of factors decide your personal loan eligibility, which also determine the rates of interest offered to you. Given below are some of the main factors that affect your personal loan approval:

    • Credit history of the borrower: Ensure that you have cleared all your outstanding loan payments before applying for a new loan. Also, ensure that your credit history is updated by the lending organization once you have cleared the payments. With a good credit score, the chances of availing a personal loan are higher. Generally, a credit score above 750 is considered good.
    • Down payments: Paying an amount upfront while availing a loan can have a significant impact on your EMIs. An amount higher than 20% of the loan value is likely to bring down your interest rates considerably.
    • Debt-to-income ratio: Debt-to-income-ratio is the ratio of how much you owe the bank each month to your monthly income. It is one of the key factors which decide your personal loan eligibility. Check your debt-to-income ratio before applying for a personal loan.
    • Comparing loans: A knowledge of the best loan products available in the market can help you when shopping for loans. Through third-party websites like BankBazaar, you can check the interest rates of different banks and compare the features side-by-side.
    • Tenure: Your loan tenure is directly proportional to your Equated Monthly Installments (EMIs). So, choose a shorter loan tenure to avail a lower rate of interest.
    • Employment status: Companies also check your employment history while approving personal loans. If your employer is listed with the bank you approach for loan, then it’s not just easy to avail the loan but you can also get a lower rate of interest.
    • Personal loan negotiation: Do not settle for the interest rates offered by the bank. Always try to negotiate and reduce the EMIs. If you are applying for a loan at the bank where maintain your salary account, then you can easily negotiate as you are a preferred customer of the bank.
    Bank Interest Rate Range Processing Fee Range Loan Amount Tenure
    ICICI Bank 11.59% - 18.49% (Fixed) 2.25% (min. Rs.1149) One-time fee Rs.20 lakh (Max) 1-5 Years
    Citibank 10.99% - 15.99% (Fixed) 1% to 2.5% Rs.30 lakh (Max) 1-5 Years
    Kotak Mahindra Bank 11.49% - 20.15% (Fixed) Up to 2% Rs.15 lakh (Max) 1-5 years
    Fullerton 17.25% - 37% (Fixed) 1.5% to 6.0% (One-time fee) Rs.15 Lakh (Max) 1-4 Years
    Bank of Baroda 11.35% - 14.35%Fixed Rs.1,000 to Rs.10,000 (One-time fee) Rs.20,000 - Rs.2 lakh 4 Years (Max)
    State Bank of India 12.90% - 14.90% (Fixed) 1% (One-time fee) Rs.24,000 - 15 lakh 5 Years
    Aditya Birla 11.5% - 13.25% (Fixed) Nil Rs.30 lakh (Max) 1-5 Years
    Allahabad Bank 13.10% (Fixed) 1.22% (One-time fee) Rs.50,000- Rs.7.5 lakh 1-5 Years
    Yes Bank 14% (Fixed) Up to 2% (One-time fee) Rs.20 lakh (Max) 1-5 Years
    Tamilnad Mercantile Bank 1-year MCLR + Business Strategy Spread and Credit Risk Premium 1% of loan amount Up to Rs.2 lakh Up to 60 months
    Indian Bank Information not provided 0.51% of loan amount with a ceiling of Rs.510 5 to 7 times the gross salary of the loan applicant Up to 36 months
    Dhanlaxmi Bank Depending on MCLR, which ranges from 8.90% to 9.75% p.a. Up to 2.5% of the loan amount with a minimum of Rs.1,250 Up to Rs.15 lakh Up to 60 months
    City Union Bank 9.75% to 12.50% p.a. Information not provided Up to Rs.5 lakh 1 year
    Dena Bank 13% to 14% p.a. 1% of loan amount Up to 9 times of net monthly income Up to 36 months

    Salary requirements to avail Personal Loans in Coimbatore

    The income requirements to avail a personal loan differs from one lending institution to another. Therefore, compare various personal loan products and choose the one that suits you the best. Generally, banks offer loans to customers who meet the following income requirements:

    • For salaried individuals – Generally, banks offer personal loans to applicants who are above 21 years of age and earn a monthly income of Rs.15,000 or above.
    • Self-employed individuals – If you are self-employed, then your business must make a profit of Rs.1 lakh to Rs.2 lakh annually to be eligible for personal loans.

    Coimbatore Personal Loan FAQs

    1. What are the additional charges applicable on personal loans?

      Banks charge you a processing fees, which is normally 2% of the loan amount.

    2. Will my credit history affect the interest rate on my loan?

      Yes, your credit history directly affects your interest rate the bank or NBFC offers you on your personal loan. The higher your credit score, the lower will be the interest rate and vice versa.

    3. Can I transfer my personal loan amount from one bank to another?

      Yes, you can transfer your loan from one bank to another. However, make sure that you have cleared all your outstanding EMIs before applying for a loan transfer.

    4. How long does it take to get a loan approved?

      The approval time depends from one bank to another. Some banks approve your personal loans within 24 hours.

    5. What is the tenure range of personal loans?

      Most banks offer loans for a tenure of 1 to 5 years. The tenure decides the interest rate, the EMIs to be repaid to the bank monthly, etc.

        

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Coimbatore Personal Loan Reviews

    • Bank Bazaar Personal Loan
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      The immediately response is good in Bank Bazaar, when I post the inquiry immediately I have been getting calls. I got to know the site through online search. The process is very easy to reach the bank, the customer executive are professional and cleared my doubts.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 22, 2019
    • HDFC Bank
      HDFC Bank Personal Loan
      "Need improvement on customer service"
      0.5 1.0/5 "Really Bad"
      I just raised online request for Hdfc bank personal loan but there was no response from their end. No one have visited to my place to collect the papers, the interest rate was reasonable therefore I approached them. They need improvement on the response and service.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 22, 2019
    • Bank Bazaar Personal Loan
      "Good website"
      0.5 5.0/5 "Blown Away!"
      From bankbazaar customer care follow up with the customer everyday. The web application is fine. I got a pop up option in bankbazaar when i was using my facebook application. This is my first experience and its fine. Overall, i'm okay with the service provided by them.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 22, 2019
    • HDFC Bank Personal Loan
      "Very Poor services"
      0.5 2.0/5 "Expected more"
      Through online, i found the personal loan with HDFC. I haven't got my loan sanctioned for that they have not provided me any valid reason. I have given my documents also. When i apply for the loan they have offered me a interest rate of 10.25% for the tenure period 3 years. The service was very poor. I have tried call them so many times but there is no prompt response.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 22, 2019
    • Karur Vysya Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan was taken with KARUR VYASA BANK , customer service is up to the mark they follow up so nicely through out the process . Other than that i am really happy with services .They charge nominal rate of interest but they charge good processing fee .
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 21, 2019
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The website of bank bazaar is easy to navigate and is user friendly to use.Customer service was good with bank bazaar and their response was on time.It was a good experience with bank bazaar so far, they provide good services when compared to others in the market.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 21, 2019
    • review Personal Loan
      "Need to reduce rate of intrest "
      0.5 2.0/5 "Expected more"
      I applied my personal loan with TATA CAPITAL but i cancel this loan because i got the loan from other source and here the rate of interest was 18.25% which is very high . I applied the loan with 1.77lakh and they was reddy to give the same amount . In other bank i was getting 13%-14% .
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 21, 2019
    • Bank Bazaar Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I came through bankbazaar.com through promotional mail before 4 month ago using bankbazaar.com. Using through mobile application user friendly. To check finical products through online one portal.Customer service is good and responsive. I will recommend to my friends.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 21, 2019
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have selected HDFC personal loan 2 lakh , tenure 5 years , EMI Rs 5000 and Rate of interest 14 percentage . Customer service is good and responsive verification call done, Due to personal reason i closed this application.I will recommend to my friends.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 21, 2019
    • ICICI Bank Personal Loan
      "Good process"
      0.5 4.0/5 "Great!"
      I am very happy with the service of ICICI Bank. I had applied for a personal loan and the team responded on time. The executive visited my place and collected the documents and in a week the loan was disbursed as well. The loan amount was as needed. The rate of interest is of 15.99% and the processing fee is of 2.25%.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 20, 2019
    • Bank Bazaar Personal Loan
      "Satisfied"
      0.5 5.0/5 "Blown Away!"
      The experience at Bankbazaar is good and there are no hassles in the process. They contacted me promptly and informed me the details and also followed up in the process. The website is also pretty easy to use and understand. In all I am satisfied.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 20, 2019
    • Tata capital Personal Loan
      "Unhappy with the service"
      0.5 1.0/5 "Really Bad"
      I had applied for a personal loan with Tata capital. It was not a very satisfactory experience as I did not receive any call from them to inform me if I could get the loan or not. I would not recommend the institution to other. I am not sure on the rate of interest and charges.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 20, 2019
    • HDFC Bank Personal Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      I took my personal loan from HDFC BANK and the processing was good. The interest rate is higher when compared to other banks. After the disbursement when I reach for queries they are not responsible They have put 60months as loan tenure but have asked for 48months, the processing fee was applicable. The partial payment can be done after 1 year and no intimation about the charges.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Jun 17, 2019
    • review Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using my personal loan with Bajaj finance from long time, the loan amount which they have given to me was sufficient, they have given me as per my requirement, the rate of interest they have charged me was very much high they have charged me up to 26% , i would like to success them to reduce the rate of interest , now i have successfully closed this loan.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Jun 16, 2019
    • Bank Bazaar Personal Loan
      "Very Good Service"
      0.5 4.5/5 "Excellent!"
      I came to know about Bank bazaar through Advertisement and also searched through Online .This is a user friendly one ,can explore financial product through this site this portal is really doing a good service it is very useful and can get all information on one page and can compare .
      Was this review helpful? 1
      , coimbatore
      Reviewed on Jun 08, 2019
    • ICICI Bank Personal Loan
      "Very Good Service "
      0.5 4.5/5 "Excellent!"
      I have got a very good service when applied for ICICI Bank personal ,the rate of interest and processing fee was nominal ,The agent gave all information about the loan process and the loan amount got on time ,The agent gave all the information about the loan process ,I have got the loan amount on time it was sufficient as well,I am completely satisfied with the service.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Jun 08, 2019
    • review Personal Loan
      "Recommendable loan"
      0.5 5.0/5 "Blown Away!"
      They have deducted a lots of charges for my personal loan from Bajaj Finserv. They have charged me more than Rs. 10000 for processing fee. They have approached me for the personal loan with the eligibility amount of Rs. 71000 but after the deduction, i got only Rs. 64000. The interest rate was little bit high for a tenure period for 36 months. Every month i used to pay the EMI on time.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Jun 04, 2019
    • Fullerton Personal Loan
      "Need to reduce the interest rates"
      0.5 3.5/5 "Pretty good"
      I chosen fullerton for my personal loan. One of my friend has recommended me about this loan. I have submitted the documents of salary slip, bank statement, PAN card and Aadhar card. They have sanctioned the loan in 15 days. I have applied the loan amount of Rs. 3.5 lakhs and they have approved the same. The interest rate is little bit high and the processing fee is as per the market standards.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Jun 04, 2019
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied my personal loan with HDFC BANK . I got satisfactory loan amount and i am happy with that . I have got my loan and the process was good the services whatever they gave me is pretty good . I had very good experience with HDFC BANK . Overall it is fine .
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 03, 2019
    • Bajaj Finserv Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I got an offer for a personal loan from Bajaj Finserv and am not satisfied with the interest rate. They are charging 8K as documentation charges for loan amount of 1L. They are ready to provide 1.5L for 2years but am not satisfied. Other Financial institution has been reducing the interest amount by making EMI but Bajaj has the same amount throughout the year. The interest rate is very high compared to others. Eg. I paid first month due and second month if am paying 5K for 1L, then charges applicable for 95K but they used to charge for total value of 1L.
      Was this review helpful? 3
      , coimbatore
      Reviewed on May 31, 2019
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.