Best Banks for Personal Loan in Kozhikode
Feature
HDFC Bank
Private Bank
Bajaj Finance
Interest Rate
10.75% - 17%
11.25% - 18.5%
0.12
Min Loan Amt
Metro : 75000 & Non Metro: 50000
50000
100000
Max Loan Amt
50 Lacs
50 Lacs
1 Cr
Loan Tenure
1 - 5 Years
1 - 5 Years
1 - 5 Years
Processing Fee
0.25% - 2% of the Loan Amt
1% - 2.5% of the Loan Amt
Preclosure Charges
2%, Nil foreclosure charges after 12 months
2%, Nil foreclosure charges after 24 months
Nil
Overdraft Facility
No
No
Yes
Personal Loan in Kozhikode Features
Are you short out of cash? Do not worry. Personal Loans are here to sail you through. This loan is unsecured with minimal documentation and less paperwork. It takes less than 48 hours after the verification process for the loan to get approved.
Personal Loan Kozhikode is an unsecured form of loan that provides financial aid at affordable rates. Applicants need to have a stable source of income along with good credit history for availing of personal loans.
Also, there is no end-use restriction on the use of the personal loan amount.
Personal Loan in Kozhikode Interest Rates
To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates
Bank
Processing Fee
HDFC Bank Personal Loan
0.25% to 1.50%
Axis Bank Personal Loan
0.50% to 1.50%
Nil
Private Bank Personal Loan
0.25% to 1.50%
SBI Personal Loan
500/- to 0.50%
Nil
Kotak Personal Loan
1% to 2%
IIFL Personal Loan
Nil
Nil
Muthoot Personal Loan
Nil
Nil
Manappauram Personal Loan
Nil
Nil
PNB Personal Loan
0.70% to 1%
Nil
Canara Bank Personal Loan
0.01
Nil
Andhra Bank Personal Loan
Nil
Nil
Documents Required for Personal Loan in Kozhikode
Salaried Customers:
- Identity proof (Aadhar card/driving license)
- Salary slips of last three months
- Aadhar Card/ PAN Card/ Voter ID/ Passport
- Residence Proof (Owned/Rented/Company provided)
- Bank statements for the last 6 months
- Passport-sized photographs – 2
*NOTE: In the case of rented apartments, a rent agreement needs to be attached.
Self-Employed Customers:
- All financials are required (Balance Sheet, P&L Statement as well as Tax Return files)
- Aadhar Card/ PAN Card/ Voter ID/ Passport
- Residence Proof
- Two passport-sized photographs
PERSONAL LOAN
Interest Rate 9.99%
Personal Loan in Kozhikode Eligibility Criteria
The eligibility criteria for both Salaried and Self-Employed are different:
Salaried Applicants:
- The minimum age of eligibility is 21 years and a maximum of up to 60 years.
- Work experience of the three years. The job location should be mentioned.
- A borrower should have a minimum income of INR 25,000 per month
- The applicants must have an excellent credit history
Click here to know more about- Salaried Applicant
Self-Employed Applicants:
- The minimum age requirement for an independent person should be 25 years.
- For a businessman, the business should be running for the past 3 years.
- Good credit score without any debt or dues.
- The applicants need to file ITR for the last 3 years.
- The annual income of the applicants should be a minimum of Rs 2.5 lakh.
- Submit his financial and his bank statement for the previous 3 months.
Click here to know more – Self-employed Applicant
How to apply for a Personal Loan in Kozhikode?
- Visit Dialabank
- Navigate to the loan section and click on the personal loan link.
- You will be directed to all details of the personal loan where you can choose your preferred city.
- Call 9878981166 for further assistance.
PERSONAL LOAN
Interest Rate 9.99%
Processing Fee / Prepayment Charges on Personal Loan in Kozhikode
Every Bank and NBFC charges a fee for processing your Personal Loan application. The Personal Loan in Kozhikode processing fee is 1% of the loan amount.
In case you wish to discontinue the loan before the agreed loan tenure, you will be charged a penal prepayment fee. In most cases, you cannot discontinue or foreclose your loan before 12 months. Post that the charges vary depending on the number of years the loan has been done. These charges vary from 4% of the outstanding loan amount in the 2nd year to 2% in the 4th year of the loan.
Personal Loan EMI Calculator Kozhikode
Equated Monthly Installments, also know as EMI are the monthly fixed charges that you pay to the bank as monthly repayment for the loan amount borrowed. The interest rate on your loan is determined based on the credit rating you have. Your EMI is charged on the basis of Interest Rate, the loan amount of the loan, and the tenure of the loan.
CIBIL Score required for Personal Loan Kozhikode
Every lending institution has its own set of criteria for the minimum CIBIL score required for processing a Personal Loan application in Kozhikode. Most institutions demand a minimum score of 750 to process your loan application.
The institutions don’t just look at the overall score but also the detailed behaviour on the previous loans taken. This includes details on the type of loan taken and the amount borrowed. Any delayed payments for previous loans can act as a barrier to your availing a fresh loan.
PERSONAL LOAN
Interest Rate 9.99%
Personal Loan Kozhikode Agents/Broker
Dialabank is the leading agent for availing of Personal Loan Kozhikode. Apply online at Dialabank or call us at 9878981166
Dialabank helps you to find the best option for Banks and NBFCs by providing a detailed market comparison of different banks so that you can make the right choice. Visit our website Dialabank and fill a simple form with your personal and employment details. Our customer relationship managers will get in touch with you immediately.
Personal Loan Kozhikode Contact Number
Call 9878981166 for assistance on Personal Loan Kozhikode.
Pre Calculated EMI Table for Personal Loan Kozhikode
About Kozhikode
Kozhikode the coastal city in the southern state of Indian, Kerala is a significant spice trade centre and is close to the famous Kappad beach, where Portuguese explorer Vasco da Gama landed in India in 1498. The central Kozhikode Beach is overlooked by an old lighthouse and is a popular destination for watching the sunset. Further inland, the tree-lined Mananchira Square houses a musical fountain and is surrounded by a massive Mananchira Tank and an artificial pond.
FAQs About Personal Loan Kozhikode
Who can apply for a Personal Loan in Kozhikode?
People who have an urgent cash requirement and have a trusted source of income either from employment or business can avail a Personal Loan Kozhikode.
What is the tenure of a Personal Loan in Kozhikode?
Most of the lending firms and NBFCs provide a Personal Loan for the lowest period of 1 Yr and the highest period of 5 Years. There are some Banks that extend the maximum period up to 7 Years too. The tenure is fixed and cannot be extended. The repayment has to be done in EMIs within the agreed tenure of the loan.
Are there any other charges involved in Personal Loan Kozhikode?
Yes, there are 2 types of charges that need to payed to avail a personal loan Kozhikode:
Processing Fee: For every lending party that you borrow from, has a small fee that they charge from their customer. This is known as Processing Fee. The Personal Loan in Kozhikode processing fee is 1% of the loan amount.
Pre-closure Charges: Whenever you want to close an ongoing loan before its agreed tenure period, the lending institution charges an extra amount known as pre-closure charges on the borrowed loan amount. Different banks have different pre-closure charges. The pre-closure charges vary depending on the number of many years the loan has matured before you decide to pre-close it.
Can my application for Personal Loan Kozhikode get rejected due to my CIBIL score?
Since a Personal Loan is an unsecured loan, one of the most important decision criteria for Personal Loan application approval is your CIBIL Score. Having a High CIBIL score becomes extremely important if the applicant wishes to avail of a Personal Loan in the future. He needs to be sure that he doesn’t skip any of the loan EMI payments or any credit card payments as that will result in decreasing the CIBIL score. Most of the Personal Loan rejections happen due to a low CIBIL Score.
