Personal Loans are given by most major banks and financial institutions to individuals without asking for the requirement or need in Palakkad. They are unsecured loans given from Rs. 50,000 to Rs. 40,00,000 which means that you need not mortgage anything or show an asset. Some reasons for availing a Personal Loan in Palakkad include medical needs, travel, home renovation, wedding, good purchases and so on. Other reasons for which a loan can be availed is to get a top-up loan, balance transfer or debt consolidation.
If you need a Personal Loan in Palakkad, you must have a good credit history and adequate salary to get your personal loan sanctioned with a Bank or an NBFC in Palakkad. Other factors like years of employment, company you work for etc will determine the most important factors like amount, tenure and rate of interest. Some of the banks in Palakkad give you the flexibility to pre-close the loan without any additional charges. Most banks have a pre-closure charge in the 4%-5% range.
Palakkad, also known as “Palghat”, is situated in the southern Indian state of Kerala and is the administrative headquarters of Palakkad District. The city is thought of as the gateway to Kerala having a rich and diverse cultural history. The city has been divided into 50 wards for better civic governance and daily administration. The economy of the city is mainly based on agriculture with cultivation of crops like paddy, Coconut, Rubber, Pulses, Areca nut, Tapioca, Ginger, Groundnut, Sugarcane and Cotton. Some of the educational institutions calling Palakkad their base are Kerala State Civil Service Academy, Govt. Victoria College, Chembai Memorial Government Music College, Co-Operative Arts & Science College, Indian Institute of Technology, NSS College of Engineering, Ahalia School of Engineering and Technology etc. While not having backwaters like the south of the state, Paakkad still has some places to visit for tourists like Palakkad Fort, Jainimedu Jain Temple, Malampuzha Dam, Vadakkanthara Thirupurakkal Bhagavathy temple, Velliangadi Sree Mariamman Kovil, Velliangadi Sree Karnaki Amman Temple , Manappullikavu temple, Viswanatha Swamy Temple, C.S.I Church of Hope among others.
Best personal loans in Palakkad are provided by most banks and financial institutions through our platform. You can apply online for any personal loan or business loan in Palakkad and get lowest interest rate. These are unsecured loans and you will not need to provide a guarantor, security or collateral to apply. Your application is processed and approved based on eligibility factors like CIBIL Score, salary, employer, current debts among others. You can get low personal loan interest rate based on these factors as also the criteria of the banks or NBFCs. We help you get the best personal loan or business loan by helping reach out to most banks and NBFCs at the same time with your application.
Personal and business loans in Palakkad are advanced for amounts ranging from Rs. 50,000 to Rs. 45,00,000 and the funds can be used for a variety of reasons ranging from travel, wedding/marriage, medical, home renovation to balance transfer and debt consolidation. As a loan seeker you should consider factors such as tenure, pre-payment, amount apart from low rate of interest before you avail an offer. As a professional doctor, CA, CS, Architect with private practice, you can avail higher amounts and better interest rates from banks and NBFCs. Women entrepreneurs are also encouraged with special offers on business loans by them.
If you are looking for best deals in Palakkad at the lowest rate of interest then apply for personal loan online by filling the form or call us now. You can get instant personal loan approval online by evaluating your eligibility and the criteria set by banks. Personal loan agents in Palakkad work with a limited set of financial institutions and might not be able to get you the best rate as compared to us. All information related to personal loan and business loan eligibility in Palakkad as well as credit scores are available to you on this site. You can also check our eligibility calculator, EMI calculator and CIBIL Score estimator.
Eligibility Criteria for Personal Loan in Palakkad
Age of the applicant should be between 21-60 Years
Salaried individual with minimum income of Rs 15,000. Salary bracket would depend on the city you live in and the company you work for. Eg. If you are in a Metro, the salary requirement will be higher than non-metro and if you are working in a top MNC, the salary requirement would be lesser than one working with a new company.
Should be staying in the city for at least 1 Year
Total work experience should be at least 2 Years
Basic documentation such as KYC, latest bank statements etc are required
Be informed of the different ways your Personal Loan Rate of Interest in Palakkad is calculated so that you take the right decision when it comes to choosing your loan at the lowest interest rates. Apply below to get started and to know the offers that are available on your Personal Loan in Nov 2018
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