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.

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.

Kotak Personal Loan Festival Offer 

Ahead of festival season, Kotak Mahindra Bank has announced Rs 999 flat processing fee offer on Personal Loans. Customers can avail of instant approvals on personal loan applications up to Rs. 20 Lakhs at lowest interest rate starting at 10.25% p.a for maximum of 5 years. 

View and improve your credit score - for free.

Know how good your score is

Get insights on how to improve it

Unlock offers as per your score

chart_15f235bf64 (1).svg