Cosmos Bank



Apply Cosmos Bank  Personal Loan

About Cosmos Bank Personal Loan

Cosmos Bank maintains the philosophy of enriching the lives of customers by offering them with dedicated financial services. They provide quick and instant loans to customers for both business and personal use. Cosmos Bank makes obtaining loans for personal use completely hassles free and simple and ensures quick response to all the unique requirements of customers.

When you opt for personal loans with Cosmos Bank, you have the advantage of getting immediate funding for any personal use including financial, social and domestic obligations. This includes repayment of debts, weddings and family functions, education, medical expenses and a lot more.

Cosmos Bank Personal Loan Interest Rate - Apr 2021

Interest rate


Loan tenure

4 Years

Loan turn around period

1-7 Days

Processing Charges

Up to 1 % of loan sanctioned + Taxes

Who can apply?

Self-employed professionals

Salaried individuals

Indian residents

Dishonour Charges

750 per instance

Lowest EMI

2548 Per Lakh

Features and Benefits of Cosmos Bank Personal Loans

The goal of all personal loans with Cosmos bank is to ensure that any immediate personal expense can be met without any hassles. These loan plans are designed to allow easy repayment options and also suitable financial solutions based on the unique requirements of the customer. The features and benefits of these loan plans are as follows:

  • Loans can be used for any personal financial requirement including weddings, travel, education, home renovation, purchase of consumer durables, medical expenses and more.

  • These loans can be used for the financial needs of the family members of the applicable as well.

  • These loan plans require minimal documentation and very little proof back up.

  • You can be assured of speedy processing time, providing easy access to loans for personal use.

  • Flexible repayment options based on your income and repayment capacity.

  • Lowest possible rates of interest.

  • Availability of loan amount up To 5 lakh.

Cosmos Bank Personal Loan Rate of Interest

Cosmos Bank ensures that repayment terms of loans are easy and flexible to suit the varying financial requirements of customers. In case of personal loans, the interest rate is 12.50% that is fixed for all individuals.

Types of Personal Loans offered by Cosmos Bank

Cosmos Bank offers loans to individuals for all personal needs based on their creditworthiness and their current repayment facilities. The current loan plan available to customers for personal use is as follows:

Cosmos Credit Personal Loan


Purpose of loan


This loan can be used for any personal use of the applicant including:

  • Travel
  • Medical expenses
  • Purchase of consumer durables.
  • Higher education
  • Marriage
  • Family functions


Quantum of loan


A loan amount of up to 5 Lakhs is available.

Primary security



Collateral security


Repayment tenure

Flexible repayment options are available as per the appraisal of the loan application.

Cosmos Bank Personal Loan Eligibility

Eligibility conditions for personal loans are as follows:

  • Applicant should be a minimum of 21 years of age and not more than 65 years of age.

  • For salaried individuals, they must be employed by reputed institutions including PSUs, government organizations, schools, college or universities

  • Salaried individuals should have a minimum work experience of 2 years with at least 1 year service pending in the current organization.

  • For businessmen and other professionals, minimum work experience of 1 year is necessary.

Documents required for Cosmos Bank Personal Loan

In order to complete your loan application process, you are required to furnish the following documents: 

  • Duly Filled Application form.

  • 2 passport sized photos of applicant and guarantor

  • Photo ID proof of applicant and guarantor

  • Residence proof of applicant and guarantor

  • Pan Card Copy of Applicant and guarantor

  • In case of salaried individuals, last 3 months' salary slip+ bank statement for past 6 months+ Form 16A + IT returns for the last 3 years.

  • In case of businessmen, last 2 years financial statement along with ITR copy and bank statement of business for the last 1 year.

Why choose Cosmos Bank Personal Loans?

Cosmos Bank has established itself as one of the most trusted bank over the years since its inception in the year 1906. They thrive on providing simple financial solutions to each of their customers to ensure that they get quick and timely assistance for all their expenses.

Choosing Cosmos Bank for your personal loan offers you with several benefits including: 

  • Association with the second largest cooperative bank in India.

  • Dedicated services to help customers have the most positive banking experience and suitable solutions for their financial requirements.

  • Easy access across India with 140 branches that are spread across 7 states and 39 major cities.

  • Application of advanced banking processes to speed up loan disbursal and other services and offer smooth and seamless banking options.

  • A large customer base that is built on trust based through transparent procedures.

  • A network of over 2800 staff members who are skilled and experienced in various verticals of the banking industries.

Other Cosmos Bank products

No matter what you require funding for, Cosmos Bank provides you with several options to fulfill these requirements. There are various loan schemes offered including

Products offered by Cosmos Bank

Cosmos Two Wheeler Loan

Cosmos Car Loan

Cosmos Home Loan


Cosmos Home Delight Scheme (Top up)

Cosmo GruhaSanjeevani Reverse Mortgage Loan Scheme

Cosmos Education Loan

Cosmos Property Mortgage Loan

Cosmos Gold Loan

Cosmos SME Loan

Cosmos Professional Loans

Vendor Finance

Cosmo Working Capital Loan Scheme

Lease Rent Discounting Scheme

Cosmo Krushi Market Finance

Cosmos Women Loan Scheme

Cosmo Medical Loan Scheme

Loan Scheme for SHG/JLG




How to calculate EMI of Personal Loan

Planning your monthly budget is the first step towards financial success. If you are applying for a loan, you need to be aware of the additional outgoing expenses that you will be incurring in the form of EMIs. This amount can be calculated accurately before you apply for a loan using the EMI calculator on MyMoneyMantra. After you enter your loan amount and the tenure, the EMI is calculated based on the interest rates. That way, you will be able to assess if a certain loan plan is suitable for you or not.            

How does CIBIL Score affect Cosmos Bank Personal Loan?

You CIBIL score is an indicator of your credit worthiness. It helps banks understand your past credit history and repayments of previous loans and liabilities. You need to have a CIBIL score of at least 700 in order to be eligible for a loan with most banking institutions. The higher the CIBIL score, the higher your chances of getting an approval on the loan. 

Cosmos Bank Personal Loan Processing Fee and Other Charges

The processing fees for various loan plans under Cosmos Bank personal loans are as follows     

Processing Fee for Cosmos Credit Personal Loan

1.00% of the loan amount

Cosmos Bank Customer Care Number 

For queries, complaints or any other information, you have a dedicated customer service number as follows: 

Toll Free Number


Charged Contact Number



 Head Office:

The Cosmos Co-operative Bank Ltd.

Cosmos Tower,

Plot No-6,

S.No-132/B, ICS Colony, Ganeshkhind Road,


Maharashtra, India 

Central Office

Erode Road

Karur- 639002


What can Cosmos Credit personal loans be used for?

Cosmos Credit Personal Loans can be used for any immediate, personal use including travel, education, medical expenses, housing etc.

Do I have to provide any collateral for Cosmos Bank Personal Loans?

Primary Collateral is not required for any personal loan with Cosmos Bank. Providing NSC, Government Bonds, LIC policies, KVP or Deposits as collateral is optional.

What is the maximum loan amount available?

You can get a loan amount of up to 5 lakhs for any personal use through Cosmos Credit Personal Loan.

How is the maximum loan amount calculated for Cosmos Credit Personal Loan?

The maximum loan provided is based on the repayment ability, credit worthiness, and the income of the applicant.

Do I have to provide any guarantor for personal loans with Cosmos Bank?

Guarantee is not mandatory. Based on the discretion of the sanctioning officer, you may have to provide guarantee from any individual with sufficient income as acceptable to the bank.

What is the rate of interest on Cosmos Bank Personal Loans?

The current interest rate offered by Cosmos Bank is 12.50% which is competitive and affordable.

What is the repayment tenure available for personal loans at Cosmos Bank?

The repayment tenure with Cosmos Bank is flexible and is based on the EMI that the individual will be able to pay each month.

Where can I get a loan application form For Cosmos Credit Personal Loan?

You can get a loan application form at your nearest Cosmos Bank branch. You can also download the application form on

What is the minimum age criterion to apply for a Cosmos Bank Loan Personal Loan?

The individual applying for the loan should be at least 21 years of age.

Who can get a personal loan with Cosmos Bank?

Cosmos Bank personal loans are available to salaried individuals with a minimum working experience of 2 years and to self-employed individuals with at least 1 year experience in the current field. The current take home income should be sufficient to repay the EMI and must be quantified with salary slips, bank statements and ITR.

Why apply for Cosmos Bank Personal Loan on MyMoneyMantra?

Getting a loan requires you to provide accurate documentation and complete various processes as per the institution that you are applying for a loan with. In addition to this, each bank offers a different scheme and rate of interest that you need to be sure of when you apply for the loan. If you are finding it hard to complete the application process on your own, you can have all the procedures take care for you without any additional service costs with

Applying for a loan through MyMoneyMantra provides you with several options such as

  • Easy comparison of various products: Under just one portal, you can get instant access to all products provided by over 70 leading banks and NBFCs. You can read about all these loan plans in complete detail to understand what product suits your needs and current budget.

  • Simple online tools: To learn more about the exact outgoing after applying for a loan, you can access various financial tools available on MyMoneyMantra. This includes an EMI calculator, Prepayment Charge Calculator, Repayment Calculator and Balance transfer Calculator.

  • Instant Financial Advice: You will get complete assistance and support through a panel of financial advisors with MyMoneyMantra. You can also get 24x7 support through their live chat option on the website.

  • Seamless Customer Support: MyMoneyMantra has over 5000 relationship manages who ensure that each customer gets all the information required to complete the loan application procedure. You also get additional services like documentation verification without any added service costs.

  • Great Accessibility: MyMoneyMantra has pan-India reach in over 500 cities. This makes them accessible to customers from any part of the country.

  • A Large Customer base: MyMoneyMantra has provided services to over 2 million customers. These financial solutions have been successful and have received great appreciation from the customer base.

  • Several Awards and Accolades: For completing business over 30000 crores and for providing services to millions of customers, MyMoneyMantra has received more than 100 banking awards showing their competency in this industry.

How to apply for Cosmos Bank Personal Loan on MyMoneyMantra?

The goal of MyMoneyMantra is to ensure that all loan application processes are simplified. They are broken down into easy steps that customers can understand and complete.

This makes MyMoneyMantra one of the best channels to use in order to apply for a loan.

In order to apply for a Cosmos Bank Personal Loan, you will have to begin by providing the following details.

  • Your gender
  • Name, phone number and email ID

  • Nature of your current occupation

  • Details of your current income

  • Details of your current employer

  • Loan amount required

Based on the information provided by you, a quotation is prepared with several finance options that can suit your requirements. You can choose the best one to suit your current budget and income.

MyMoneyMantra associates will verify all the necessary documents and submit the loan application to the bank. After the personal interview with the bank associates, the loan will be processed. Once approved, you will also get complete assistance through the disbursement process.

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