Bajaj Finserv in your city
Instant personal loan in Kottayam
Kottayam, located in Kerala, is renowned as Akshara Nagari for its significant contributions to literature and print media. It is the headquarters of major Malayalam dailies like Malayala Manorama and Deepika. The city achieved the remarkable milestone of 100% literacy in 1989 and is a hub for education, with numerous institutions excelling in technology, engineering, and medical studies. Agriculture and the rubber industry also contribute significantly to its economy.
Residents of Kottayam can benefit from personal loans offered by Bajaj Finserv, a leading NBFC, with loan amounts of up to Rs. 55 lakh. These loans feature flexible repayment tenors, quick approval, and a unique Flexi loan facility, ensuring interest is charged only on the utilized amount.
Features and benefits of personal loan in Kottayam
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Simple documentation
You can apply for a personal loan with only a few documents and through a simple process.
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Zero hidden rates
Bajaj Finserv offers transparent terms and conditions. No underlying charges are imposed.
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Loan in account in 24 hours*
Post-approval, get the money in your account within 24 hours*. Address your financial needs immediately.
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Quick approval
With the online personal loan application process, receive instant approval.
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Tenor options
Choose a tenor of 12 months to 96 months and repay easily.
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24x7 account access
Access EMI details, tenor, payment schedules and other information 24x7 on our customer portal – Experia.
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High-value loan
Get funds of up to 96 months that you can use for various expenses such as wedding, education, travel, etc.
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Flexi facility
Bring down your EMIs by up to 45% with the innovative Flexi loan facility.
Eligibility criteria
Eligibility criteria for instant personal loan in Kottayam Qualifying for a personal loan requires meeting the lender's eligibility criteria, including income, credit score, and liabilities. Use our personal loan eligibility calculator to assess your qualification and secure attractive interest rates.
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Nationality
Indian, resident of India
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Employment
Must be a salaried employee at a reputed MNC or a private/public limited company
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Refer to the city list for minimum income
Credit score
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Age
Between 21 years to 80 years*
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Income
Refer to our city list for minimum salary requirements.
Documents required to apply for a personal loan in Kottayam
To ensure a smooth application process, it’s crucial to know the documentation required for a personal loan. Below are the necessary documents:
- KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
- PAN card
- Employee ID card
- Salary slips of the last 3 months
- Bank account statements of the previous 3 months
- Piped gas bill
- Pension order
- Letter of Allotment of Accommodation Issued by Employer
- Property / Municipal tax receipt
- Utility bill
- Real-time image / photograph
- Ration card
*You should be 80 years* or younger, at the end of the loan tenure.
Interest rates and charges
Make an informed decision by considering personal loan interest rates and other fees.
How to apply for a personal loan in Kottayam?
Applying for a personal loan in Kottayam is a straightforward process. Follow these steps to get started:
- Click on ‘APPLY’ at the top of this page to open our online personal loan application form.
- Enter your 10-digit mobile number and the OTP sent to your phone.
- Fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
- Now, click on ‘PROCEED’ to visit the loan selection page.
- Enter the loan amount that you need. Choose from our three personal loan variants –Term, Flexi Term, and Flexi Hybrid.
- Choose the repayment tenure and click on ‘PROCEED’.
- Complete your KYC and submit your application.
Our representative will guide you on the next steps. The loan amount will be transferred to your bank account on the successful verification of your documents
Our Personal Loan branches in Kottayam
Frequently asked questions
Once approved, the loan amount will be credited directly to your bank account. You can start using the funds instantly.
The following factors are considered to determine EMIs:
- Interest rates
- Personal loan amount
- Repayment tenor
No manual calculation is required. The EMI Calculator makes its computations based on the following formula: EMI = P x R x (1+R) ^n / ((1+R) ^n-1).
Here, P denotes the principal amount, R refers to the interest rate, and n is the repayment tenor.
The EMI for a personal loan of Rs. 15 lakh depends on factors like the interest rate and loan tenor. Although the loan amount is a key factor, EMIs also depend on the interest rate and tenor. You can determine your monthly installments by using our personal loan EMI calculator.
No specific criteria, but applicants must meet general requirements like income, age, and credit score to qualify for a personal loan.
Loan approvals in Kottayam usually take 24 hours- 24 hours, subject to document verification and eligibility criteria.
Yes, but a low credit score may result in higher interest rates or stricter terms.
Eligible borrowers in Kottayam can avail of loans up to Rs. 55 lakh, depending on income and creditworthiness.
Yes, prepayment or foreclosure is allowed. Some lenders may charge a nominal fee based on their policies.
