Apply Online For Personal Loans in kumbakonam At Lowest Interest Rates
Personal loans in Kumbakonam are financed by P2P loans from Press4loans lenders throughout India. It’s unsecured loans given from Rs. 20,000 to Rs. 1,50,000, so you don’t have to mortgage anything or show an asset. Some reasons for making use of a personal loan in Kumbakonam include medical needs, travel, home refurbishment, marriage, good shopping etc. Another reason for a loan is to get a supplementary loan, balance transfer or debt consolidation.
You need a good credit history and adequate payment to have your personal loan approved by Press4loans in Kumbakonam if you need a personal loan in Kumbakonam. Other factors, such as years of work, companies for which you work, etc., are key factors such as quantity, tenure and interest rates.
Press4loans in Kumbakonam gives you the flexibility to prevent the loan from being closed without additional charges. The majority of banks have a 4% -5% pre-closure charges. Most banks and financial institutions provide best personal loans in Kumbakonam through our platform.
Credit Score , Tenure & EMI
Three factors that determine the personal loan Interest repayment and EMI on month.
Salary requirements for Kumbakonam personal loans
The wage requirements in the use of a personal loan in Kumbakonam change from bank to bank. See if the bank offers the best interest rates, also look for the bank’s minimum wage requirement.
For salaried employees – Banks have a minimum wage requirement between Rs. 15000 and Rs. 50,000 for employees.
Self-employed persons – Those who have their own businesses should provide proof of revenues, and most banks have a Rs 1 lakh to Rs 2 lakh revenue requirement each year.
Chat with our Personal Loan agents or submit a Loan inquiry online for Immediate support.
Press4loans really helped me getting my personal loan quickly. Their timely document collections & their fantastic transparency in loan processing helped us tracking their work progress easily.
List of Banks & Interest Rate Ranges
Interest Rate 11.75.% - 24.00%
Interest Rate 11.75.% - 24.00%
Processing Fee Range :Up to 2%
Loan Amount : 30L Max
Tenure Range : 1-5 Years
Interest Rate 11.75% - 16.99%
Interest Rate 11.75% - 16.99%
Processing Fee Range : Up to 2%
Loan Amount : 30L Max
Tenure Range : 1-5 Years
Interest Rate 11.25% - 16.99%
Interest Rate 11.25% - 16.99%
Processing Fee Range : Up to 2%
Loan Amount : 30L Max
Tenure Range : 1-5 Years
Interest Rate 11.25% - 16.99%
Interest Rate 11.25% - 16.99%
Processing Fee Range : Up to 2%
Loan Amount : 60L Max
Tenure Range : 1-5 Years
Interest Rate 12.99% - 19.00%
Interest Rate 12.99% - 19.00%
Processing Fee Range :Up to 2%
Loan Amount : 30L Max
Tenure Range : 1-5 Years
Interest Rate 12.99% – 20.00%
Interest Rate 12.99% – 20.00%
Processing Fee Range : Up to 2%
Loan Amount : 30L Max
Tenure Range : 1-5 Years
Interest Rate 11.25% - 18.00%
Interest Rate 11.25% - 18.00%
Processing Fee Range : Up to 2%
Loan Amount : 40L Max
Tenure Range : 1-5 Years
Interest Rate 11.49% – 16.99%
Interest Rate 11.49% – 16.99%
Processing Fee Range : Up to 2%
Loan Amount : 30L Max
Tenure Range : 1-5 Years
Other Bank
Interest Rate 11.25% - 16.99%
Processing Fee Range :Up to 2%
Loan Amount : 30L Max
Tenure Range : 1-5 Years
Banks Interest Rate, Processing Fee with Tenure & EMI per Lakh
| Banks | Interest Rate Ranges | Processing Fee | Repayment (No. of Months) | EMI per Lakh |
|---|---|---|---|---|
| Bank #1 | 15.50%-24.00% | 1.50%-2.00% of the loan amount + Service Tax, as applicable | 12 – 60 months | 2406 to 2877 |
| Bank #2 | 12.5%-16.00% | 2.25%-3% of the loan amount | 12-60months depends upon company categorization | 2432 |
| Bank #3 | 14.00% to 19.00% | Upto 2.5% of the loan amount | 12-60months depends upon company categorization | 2327 to 2595 |
| Bank #4 | 18.00%-18.5% | Upto 2.5%+Service Tax , as applicable | 12-60months depends upon company categorization | 2567 |
| Bank #5 | 11.49%-20.00% | Upto 2.5% of the loan amount, subject to a max of 25,000 INR and a mini of 1,000 INR | 12 -60 months depends upon company categorization | 2199 to 2650 |
| Bank #6 | 11.49%-22.00% | Upto 2.50% of the loan amount + Service Tax, as applicable | 24- 60 months depends upon company categorization | 2199 to 2762 |
| Bank #7 | 11.50-24.00% | Upto 2% + ST + Other levies | 12-60months depends upon company categorization | 2200 to 2877 |
| Bank #8 | 16.00% to 21.00% | Upto 2.5% of the loan amount | 12-60months depends upon company categorization | 2432 to 2706 |
| Other Banks | 17.25%-35.00% | Upto 6.5% of the loan amount | 12-60months depends upon company categorization | 2499 to 3550 |
Check your Personal Loan Eligibility
Most banks / NBFCs provide personal loans but have different eligibility requirements. There are, however, some criteria common to all financial institutions.
The eligibility criteria for the online approval of personal loans to employees and self – employed persons are:
Age: 18/21 years – 60/65 years
- Employment Type:
Salaried - Self-Employed professionals
Credit score: 750 or above with a good credit history
Minimum Net Income (Monthly):
- ₹15,000(non-metro cities)
- ₹20,000( metro cities)
Loan Amount: Up to ₹50 lakhs depending on the credit profile
Work Experience:
- Salaried
- Employed at current company for at least 6/12 months
- Self-Employed
- Business tenure of at least 3 years (continuous)
- ITR of last 3 years
The common documents required for personal loans are given below:
For employees
- Proof of identity & age
- PAN Card
- Proof of residence-Passport driving license, Voter ID, postpaid bill payment / landline bills (electricity / water / gas)
- Last 3 months (preferably your salary account) bank accounts
- Salary Last 3 months slips
- Form 16 or Income Tax Returns of last 3 years
For self-employed persons:
- Identity and age proof
- Fully filled in photograph
- Personal loan applications.
- PAN Card
- Residence proof-driving license for passports, Voter IDs, post-payment / landline bills, utility bills (electricity / water / gas)
- The last 3 months of the bank statements (preferably your wage account)
- Over the last three years, income tax returns with income calculation.
- CA Certified / Audited Balance and Profit & Loss Account Last 3 years.
Calculate your EMI / Month or year
EMI plays the most important factor when you are planning to apply for a personal loan. Whether the EMI fits into your monthly budget or not can help you decide on your personal loan. This is where an EMI calculator for personal loan can help you.
A loan calculator will help you to achieve the following results:
Monthly Payment – EMI you pay on monthly basis
Total interest payable – Total loan interest
Total amount to be paid – The total amount of the principal and interest
Interest rates for personal loans
Interest Rates Rage: 10.75% – 35%
Processing Fee: Differs from bank to bank
Loan Tenure: 12 months to 60 months
Loan Amount: ₹100000 – ₹50 lakhs
Pre-closure Charges: Differs from bank to bank
Getting personal Loan from any bank is quite easy!
Contact us for your personal loan needs
Maximum Annual Percentage Rate (APR)
| APR | 11.49 % to 22 % |
|---|---|
| Representative example of the total cost of the loan, including all applicable fees | Here is an illustration of the total cost of the loan: |
| 1. Total amount borrowed: Rs. 100,000 | |
| 2. Time period: 12 months to 60 months | |
| 3. Interest Rate: 11.49% to 22% | |
| 4. Processing Fee payable to: Upto Rs. 2,000 | |
| 5. Fee payable to MyLoanCare: NIL | |
| 6. Total Monthly Cost – From Rs. 2,337 for a months Rs. 100,000 loan at 11.49% (lowest rate, longest time period) to Rs. 9,359 for a 12 months Rs. 100,000 loan at 22% (highest rate, shortest time period). This is inclusive of principal repayment. | |
| 7. Annual Percentage Rate (APR) of charge including all applicable fees: 11.89% to 22.4% | |
| 8. Total cost payable over loan tenure: Rs. 14,313 for 12 months loan to Rs. 42,233 for 60 months loan. |
Personal Loan Team in Kumbakonam
Press4loans in Kumbakonam gives you the flexibility to prevent the loan from being closed without additional charges. The majority of banks have a 4% -5% pre-closure charges. Most banks and financial institutions provide best personal loans in Kumbakonam through our platform.
In Kumbakonam, you can apply for any personal loan or company loan online and get the lowest interest rate. These are unsecured loans and you don’t have to provide a guarantee, security or collateral. You process and approve your application based on eligibility factors such as CIBIL Score, wage, employer, current debts, etc. Based on these factors, as well as the criteria of banks or NBFCs, you can achieve a low personal loan interest rate. We assist you in obtaining the best personal loan or corporate loan by helping you reach most banks and NBFCs at the same time.
Total Cost of Loan Track Example
| Loan Amount Sanctioned | 2000000 |
|---|---|
| Processing Fees (rate as %age of Loan Amount) | 2.25% |
| Rate of Interest | 11.49% |
| Stamp Duty (Rs.) | 50 |
| Tenure in Months | 60 |
| Secure Fee (Deducted from Disbursement) | 999 |
| Service Tax @ 15% on Processing Fees | 6750 |
| EMI | 43975 |
| Processing Fees Amount | 45000 |
| Total Processing Fees (PF + Service Tax) | 51750 |
| Total Deduction (Charges) | 52799 |
| Net Disbursement Amount | 1947201 |
Kumbakonam Personal Loan Approval Process
As a professional doctor, CA, CS, an architect with private practice, you can use banks and NBFCs to increase amounts and improve interest rates. Special offers on corporate loans are also encouraged for women entrepreneurs. If you’re looking for best deals at the lowest interest rate in Kumbakonam, please apply for a personal loan online or call us now. You can receive immediate online personal loan approval by evaluating your eligibility and banks ‘ criteria.
Personal loan agents in Kumbakonam work with a limited number of financial institutions and could not obtain the best rate compared to us. On this website you will find all information about personal loans and business loan eligibility in Kumbakonam as well as credit scores. Our eligibility calculator, EMI calculator and CIBIL Score estimator can also be checked.
Some private banks and NBFCs in the city include: We help you get loans from individuals via P2P or peer to peer mechanism by other methods. We can apply for personal loans in Kumbakonam online and help you connect to individual lenders and private financers who provide loans at a specific rate of interest. They examine the traditional requirements for eligibility and may also lend if you have a bad credit score or a bad CIBIL score.
Best Personal loan deals in Kumbakonam
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- Compare exact EMI, Processing fee and Checklist of documents before choosing the bank.
- Never pay a person any fee for the sanctioning of a loan. The processing fee shall be deducted from the amount of the loan.
- Only give documents to one bank and verify whether it is an employee or vendor authorized by the Bank.
- To receive more bank loan –pay regular credit card bills or payments, and use these steps to increase your income, you receive more and more private loans from the bank.
Personal Loan FAQs:
Whether it’s wedding charges, home renovation or a health emergency, a personal loan may be your answer to the immediate financial needs since it’s easy to get, quick in payments and doesn’t require collateral.
The best personal loan varies from borrower to borrower. A credit profile contains credit, monthly income, employer, type of job and so on. All the factors mentioned above are considered to be the best personal loan.
You must fulfill the following eligibility requirements to receive a personal loan:
Age: 18/21 years – 60/65 years
Employment Type:
- Salaried
- Self-Employed professionals
Credit score: 750 or above with a good credit history
Minimum Net Income (Monthly):
- ₹15,000(non-metro cities)
- ₹20,000( metro cities)
Loan Amount: Up to ₹50 lakhs depending on the credit profile
Work Experience:
- Salaried
- Employed at current company for at least 6/12 months
- Self-Employed
- Business tenure of at least 3 years (continuous)
- ITR of last 3 years
When deciding on your credit score, personal loans play an important role. The effect of missing an EMI personal loan on your credit score may be adverse. One of the reasons for the same is that personal loans in nature are unsecured.
Personal loan approval has become instantaneous due to digitization. However, due to the documentation process, the disbursement could take 5 – 7 days.
There are no things like best personal loan. Each borrower must find the lender best suited to his / her needs. To do this, you can either offline compare the different lenders or apply to platforms like Press4loans that help you select the lender according to your needs.
Naturally, you can early pay off a personal loan. This is known as a personal loan prepayment.
The rate of interest on a personal loan ranges from 10.75% to 35%, which varies from lender to lender.
When examining a personal loan application, banks consider the following factors:
- Age
- Income on a monthly basis.
- Score of credit
- History of credit
- Documents
The best interest rates for personal loans depend on a customer’s credit profile. A client must have a good credit score, a consistent source of income, should be paid / self – employed in order to get the best rates.
The minimum wage for obtaining a personal loan is about ₹15,000 non – metro towns and about ₹20,000 for metro towns.