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Personal Loan in Kerala

Personal loans are an amazing source to fund all of your financial needs, including marriage, vacation, debt consolidation, and so on. You can easily get a Personal Loan in Kerala of up to Rs. 40 Lakhs at attractive interest rates starting from just 10.25% p.a. The application and disbursal are instant and you require minimum documentation.

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Best Personal Loans Banks in Kerala

Bank/ NBFCLoan AmountInterest Rate (p.a)TenurePrepayment ChargesProcessing Charges
HDFC BankRs. 50,000 - Rs. 40 lakhs10.50% - 21%1 - 5 years2% - 5% Up to 2.50% 
ICICI BankRs. 50,000 - Rs. 25 lakhs10.50% - 19%1 - 6 years5% Up to 2.50% + GST
Kotak Mahindra BankRs. 50,000 - Rs. 20 lakhs10.25% onwards1 - 5 years3% - 5% Up to 2.50% + GST & other levies
Bajaj FinservUp to Rs. 25 lakhs13% onwards1 - 5 years4% Up to 4.15% + taxes
IDFC First BankUp to Rs. 40 lakhs10.49% onwards1 - 5 yearsUp to 5% Up to 3.5% + GST
Yes BankRs. 1 lakh - Rs. 40 lakhs10.99% onwards1 - 5 yearsUp to 4% Up to 2.50% + taxes
Tata CapitalRs. 75,000 - Rs. 25 lakhs10.50% - 24%1 - 6 yearsUp to 4.5% + GST Up to 2.75% + GST

Personal Loan Kerala Features & Benefits

Following are the key features and benefits of urgent cash loan in Kerala:

  • Get online personal loan in Kerala with instant online application, processing, and disbursal of loan.
  • Personal loans are multipurpose and can be used for any purpose.
  • Personal NRI loan in Kerala can be availed to meet the financial needs of NRIs.
  • No collateral, guarantor or security is required for personal loans as they are unsecured in nature.
  • You can get an instant cash loan in 1 hour in Kerala disbursed to your bank account on successful approval.
  • You can avail of a loan amount of as high as Rs. 40 lakhs subject to meeting the eligibility norms.
  • The borrowed Kerala loan amount can be easily repaid in EMIs within 1 to 6 years tenure.
  • Personal loan interest rate in Kerala is highly affordable.

Eligibility Criteria for Personal Loans in Kerala

  • Applicants should be Indian citizens, residing in Kerala to get a personal loan or marriage loan in Kerala.
  • Salaried employees as well as self-employed professionals and non-professionals with a regular source of income can apply.
  • Applicant’s age should be minimum 21 years (for salaried) and 25 years (for self-employed) at the loan application.
  • Applicant’s age should not be more than 60 years when the loan matures. The maximum age requirement for self-employed applicants is up to 65 years to get a personal loan in Thrissur or other cities of Kerala.
  • Self-employed applicants must have a minimum annual turnover of Rs. 15 lakhs and minimum Profit After Tax (PAT) of at least Rs. 2 lakhs as per audited financials.
  • Salaried applicant’s monthly income should be minimum Rs. 25,000 to get a personal loan in Trivandrum or other city in Kerala.
  • Salaried applicants must have a minimum work experience of 1 year, with 6 months served with the existing employer.
  • Self-employed applicants must be in the current profession for at least the last 3 years.
  • Applicant’s minimum credit score should be 750 or above to get a mini cash loan in Kerala.

Document Required for Applying Personal Loan in Kerala

  • Recent 2 passport size photographs of applicants and co-applicants (if any) are reequird to avail of personal loan Ernakulam or other areas in Kerala.
  • Identity proof, such as Passport, Driving License, Aadhaar Card, Voter ID, or PAN Card (any one).
  • Residence proof, such as Leave & License Agreement, Electricity Bills, Gas Bills, Postpaid Mobile Bills, Passport (any one).
  • Bank statements of salary account of the last 3 months for salaried.
  • Salary slips of the last 2 months are needed for salaried applicants to get private finance in Kerala.
  • Bank statements of savings or current account of the last 6 months for self-employed.
  • Audited financials of the last 2 years, business continuity proof, office address proof and office ownership proof required for self-employed applicants.

How Do I Get a Personal Loan with the Lowest Interest Rate in Kerala?

Here are some tips to get the lowest interest rate personal loan in Kerala:

  • Conduct a thorough research to get the list of Best Personal Loan App in Kerala.
  • Compare all loan offers based on their interest rates, processing fees, charges, tenure, loan amount, and other essential features.
  • Apply for a loan with a co-applicant who has high income and excellent credit score.
  • Get a secured personal loan against collateral if you have any asset. You can opt for Personal loan against cheque in Kerala, loan against fixed deposit, LIC, and so on.
  • Opt for a shorter repayment tenure to reduce the interest cost.
  • Lower your credit utilization ratio and debt-to-income ratio.
  • Improve and maintain an excellent credit score to get a personal loan Kochi or other city of Kerala.

How to Apply for a Loan in Kerala?

  • Visit mymoneymantra.com and select Personal Loan given under the Loans tab to get the instant loan in Kerala.
  • Fill in the online form by entering a few mandatory details.
  • Verify your details by entering the OTP received on your mobile number.
  • Enter your employment details.
  • Enter some more details and then click on the “Submit and View Offers” tab.
  • Select the preferred lending partner and click on the Econnect button beside it.
  • Our personal loan team will contact you to complete the process for easy personal loan in Kerala.

Navi Personal Loan @9.99% p.a

Now get Navi personal loan of Rs. 10,000 to Rs. 20 Lakhs at lowest interest rate starting from just 9.99% per annum. Repay in easy instalments of 3 to 72 months. The processing fee ranges from 2.5% to 6% of the sanctioned limit + GST.

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