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Coimbatore, Tamilnadu, India

Personal Loan in Coimbatore

Coimbatore is one of the most industrialized cities in Tamil Nadu popularly known as the textile capital of South India or the Manchester of the south. It is amongst the fastest growing cities in India and a major hub for the textile industry. Studying the overall socio-economic development of the city, multiple financial institutions are flourishing with easy to apply personal loans in Coimbatore at affordable interest rate. Personal loan amount in Coimbatore starts from 50,000 so that even small cash needs are met timely.

With minimal documentation and less processing time, people in Coimbatore can easily avail instant personal loan online. Since it is available instantly, you can feel relieved with the timely financial support. Online instant loan apps are launched to save time and lengthy procedures that were earlier a part of the physical loan application process.

All the financial institutions in Coimbatore provide 24x7 customer support service for borrowers to get the right type of personal loan sufficing their purpose.

Personal Loan Interest Rates in Coimbatore

The interest rate in Coimbatore may vary from lender to lender. It is advisable to check the prevailing rate of interest on personal loans based on your location. Like in Coimbatore, the interest rate will be different from Mumbai or Delhi. Hence, for easy repayment of loans keep a tap on the interest rate

The lowest interest rate on a personal loan in Coimbatore is 10.45%. The processing fee levied on overall personal loan procedure is minimal, and some lenders may even charge zero processing fees depending on the kind of goodwill maintained by the borrower with a concerned financial institution in Coimbatore.

Feature and Benefits of Personal Loan in Coimbatore

Attractive personal loan interest rate

Every person looks for an interest rate to be low and affordable. Coimbatore has considerable interest rates on personal loans making it more popular and easily accessible.

No Physical Documentation

Instant personal loans applicable in Coimbatore allows borrowers to create a loan account where they can upload soft copies of essential documents or enter details given on KYC documents. This reduces the fuss of personally visiting the branch for loan application.

Quick disbursal

Online personal loan application is faster and takes only a few minutes to complete. Verification of KYC details is mostly done in real-time, which fastens up disbursal process within 24 hours.

Small Cash Loans

Coimbatore has many local vendors and mid-sized businesses in need of small cash loans. Even if the borrower is new in the business, minimum loan amount of Rs. 50,000 can be easily approved.

Security

While availing personal loan online, personal details of the borrowers are kept 100% confidential. Hence, it is advisable to use a reliable personal loan lender in Coimbatore, to keep yourself at bay from fake lenders and fraudulent loan apps.

Automated Repayment

Auto debit option is a sensible thing to choose when it’s about paying EMIs. This setting automatically debits the EMI amount every month on the approved date. It eliminates the chances of missed/delayed payments and maintains a good credit score.

How to Apply For Personal Loan in Coimbatore

With online personal loan apps, the personal loan application process is simple unlike the traditional method of application.
  • 1 Install a reliable personal loan app from Google Play Store
  • 2 To register/login enter your mobile number or email id
  • 3 Fill in the loan application form and the mandatory fields
  • 4 Enter details or upload soft copies of KYC documents and income proofs
  • 5 Locate loan EMI calculator and enter the required loan amount, interest percentage and tenure to calculate EMI in advance
  • 6 Wait for verification of documents and loan application
  • 7 Once verified the loan amount will be disbursed within 24 hours

Documents Required and Eligibility Criteria

Before applying for a personal loan, it is essential to confirm the required loan documents and eligibility criteria. Personal loans in Coimbatore can be acquired with minimal documents:

  • 1 You must be a citizen of India
  • 2 You must possess a stable job in private or public sector
  • 3 You must fall in an age group of 21 - 58 years
  • 4 You must have an income of at least Rs. 15,000 per month
  • 5 Must possess KYC documents that includes Aadhaar card/Driving license enabled with a smart card chip/PAN card is mandatory
  • 6 Last six months’ salary slip with ITR details is mandatory
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