Cosmos Bank Personal Loan Interest Rate

Interest rate10.25%
Loan tenure4 Years
Loan turn around period1-7 Days
Processing ChargesUp to 1 % of loan sanctioned + Taxes
Who can apply?Self-employed professionals
Salaried individuals
Indian residents
Dishonour Charges750 per instance
Lowest EMI2548 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.

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 securityNIL
Repayment tenureFlexible repayment options are available as per the appraisal of the loan application.

Cosmos Bank Personal Loan Eligibility

The Cosmo Bank Personal Loan Eligibility conditions 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 can avail personal loan if they 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 LoanCosmos Car Loan

Cosmos Home Loan


Cosmos Home Delight Scheme (Top up)Cosmo GruhaSanjeevani Reverse Mortgage Loan Scheme
Cosmos Education LoanCosmos Property Mortgage LoanCosmos Gold LoanCosmos SME LoanCosmos Professional Loans
Vendor FinanceCosmo Working Capital Loan SchemeLease Rent Discounting SchemeCosmo Krushi Market FinanceCosmos Women Loan Scheme
Cosmo Medical Loan SchemeLoan 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.

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 Loan1.00% 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 Number1800-233-0234
Charged Contact Number+91-20-67086708

 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

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Cosmos Bank Personal Loans FAQs

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 www.cosmosbank.in.

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.