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    Coimbatore Personal Loan

    Also called Kovai, Coimbatore is one of the major cities in Tamil Nadu. It is home to the second highest number of people in the state after Chennai. The city has several different banks for customers seeking personal loans.

    We found 33 Coimbatore Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 17.99% Fixed
    0
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Accelerated Approval
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    11.49% - 18.25% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
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    Eligibility Criteria
    Customer Reviews
    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher
    What you'll love
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 17.99% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 21.25% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11% - 16% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
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    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 18.15% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
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    Perks
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    Fees & Charges
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    Eligibility Criteria
    Customer Reviews
    11.5% - 13.5% Fixed
    1% + applicable tax One time fee
    2L - 25L
    1-5 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    12.00% - 17.00% Fixed
    1%
    30L Max
    1-5 years
    Response Time : Within 30 minutes
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12.49% - 33% Fixed
    6.0% One time fee
    15L Max
    1-4 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
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    Fees & Charges
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    Coimbatore Personal Loan is Rated as "Great!" by 1356 Users

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    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 20 Jan 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.

    Coimbatore Personal Loan Reviews

    • HDFC Bank Personal Loan
      "Economical loan"
      0.5 5.0/5 "Blown Away!"
      Even when the interest rate was higher, they have reduced the same. They have given me a interest rate of 8% when i applied the top up option, they have increased upto 11% when i contact the customer care, they have reduced the same. In HDFC, they are responding the customer in a proper way.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jan 18, 2019
    • Bank Bazaar Personal Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      I have been using bankbazaar.com for last 6 months. I came to know through advertisement. The platform is good for the connectivity between bank and the customer. Am using the mobile application which was easy to access. I have applied the personal loan and uploaded few documents but not received proper response from the bank.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Jan 09, 2019
    • HDFC Bank Personal Loan
      "Need more responsiveness"
      0.5 1.0/5 "Really Bad"
      I have applied the personal loan from HDFC Bank through online portal. I did not get any calls from the customer service. I am okay with the personal loan or balance transfer but there was no proper response and have not collected the documents. I have uploaded the mandatory documents online. Still my loan has not processed.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Jan 09, 2019
    • Kotak Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I do have a personal loan in Kotak which was taken before 2 months. The rate of interest is 2% higher compared to HDFC. Its a pre approved loan, customer service is good. The process was immediate and approved within 10 minutes. The loan duration is 24months, I can do pre clos and part payment after 6 months.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jan 08, 2019
    • Bank Bazaar Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I like the customer service very much, the representative has informed me about the terms and conditions. It was my first time with bankbazaar.com and known through online. Am using mobile app which is more comfortable. The process was hassle free.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Jan 08, 2019
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I am very much happy with the customer service and response. I feel the rate of interest was better in HDFC Bank when compared to others. The bank has disbursed the amount within 2 days. The documents are collected by the executive. I have enquired about part payment can be done after one year.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Jan 08, 2019
    • Bank Bazaar Personal Loan
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      I would say the Bank Bazaar is providing fast loan approval in the market, without going to the bank or any institute from my place I can apply for the personal loan. Everything happen on time, I was using mobile application of Bank Bazaar its good.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Jan 05, 2019
    • Tata capital Personal Loan
      "Looking for better offer"
      0.5 4.0/5 "Great!"
      When I availed the personal loan from Tata Capital, I have request for the EMI around Rs.4900 emi, but they gave me the EMI around Rs. 5500 for the tenure of two years, I felt the interest rate is high. The loan process is good only concern about the percentage of interest.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Jan 05, 2019
    • Axis Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from the Axis. The whole application process was easy and hassle free. It took just few working days to disburse the loan amount to my account. The documentation was done digitally which was easy and convenient. Loan amount is satisfactory .
      Was this review helpful? 3
      , coimbatore
      Reviewed on Dec 30, 2018
    • HDFC Bank Personal Loan
      "Process is good"
      0.5 4.5/5 "Excellent!"
      I also have a personal loan with HDFC Bank. The services are very good and there are no hassles in the overall experience. The rate of interest and processing charges are normal and the process to get the loan was fine. Overall no hassles for the after loan services too.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Dec 22, 2018
    • HDFC Bank Personal Loan
      "Process is lengthy"
      0.5 3.0/5 "Satisfactory"
      The process for the personal loan with HDFC Bank was time consuming. The process took one month for disbursement. The rate of interest was lesser than expected but the processing charges was on the higher side. They can work on the process service.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Dec 16, 2018
    • HDFC Bank Personal Loan
      "Easy to get a loan"
      0.5 4.5/5 "Excellent!"
      They have processed the loan immediately. I have received the loan amount of Rs. 1.5 lakhs. I have received the loan on time. I'm happy about the interest rate since its a instant loan. There was no documentation has collected. Total tenure period of the loan is 2 years and I'm about to close it.
      Was this review helpful? 3
      , coimbatore
      Reviewed on Dec 14, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a car loan with HDFC bank and my experience was good, the loan amount was based on my requirement and the rate of interest was nominal when compared to other banks. Customer service was good with this bank and the tenure period is 5 years for this loan.
      Was this review helpful? 5
      , coimbatore
      Reviewed on Dec 14, 2018
    • Bank Bazaar Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      It was a good experience so far with bankbazaar, they provide good services when compared to others in the market. Customer service was good with bankbazaar and they responded on time. The website of bankbazaar is easy to use and is user friendly.
      Was this review helpful? 3
      , coimbatore
      Reviewed on Dec 14, 2018
    • Early Salary Personal Loan
      "Looking for less interest rate"
      0.5 4.0/5 "Great!"
      My experience was good with Early salary for personal loan, the loan amount was for Rs 12000 with high interest rate when compared to others. Customer service was good and i received my loan amount on time. Tenure period for this loan is for 1 month.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Dec 14, 2018
    • HDFC Bank Personal Loan
      "Bad experience"
      0.5 2.0/5 "Expected more"
      I have applied my personal loan with HDFC bank recently, they have given me too less loan amount it not based on my expectation and the rate of interest while i applied it showed as 11.25% but after getting my loan they have charged me up to 17% which is too high , the processing fee they have charged me was nominal , and even there was delay in loan amount they have given me after 10-15 days, there overall service is not up to the mark.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Dec 12, 2018
    • Kotak Personal Loan
      "Need to improve the process"
      0.5 4.0/5 "Great!"
      I have received the loan on time from Kotak Mahindra bank. They have offered me a interest rate which is more satisfied for me. I have received the loan on time. I'm paying the premium amount of Rs. 23000. I have chosen the tenure period of 5 years. I'm not satisfied with documentation process.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Dec 12, 2018
    • Bank Bazaar Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar gave me a consolidated list of banks which gives a personal loan based on the order of the rate of interest. It was very much helpful for me to choose which bank I need to go to. The services are also on time and they followed up on time.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Dec 12, 2018
    • Tata capital Personal Loan
      "Process is satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan with Tata Capital. I got the loan in five working days. It was a on time process. The rate of interest is of 11.49% and the processing fee is zero. Upon my request they expectorated the process and gave me the loan sooner else it would have been lengthy.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Dec 12, 2018
    • Bank Bazaar Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with the services of Bank Bazaar has been good and i had recently started using the services of them. I had been using their mobile application of them which has been easy in using it and during the process of getting my personal loan through them their customer support has also been responsive.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Dec 10, 2018
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