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About Personal Loans

Personal loans are an unbound type of credit that is well known to meet quick necessities. It is multi-reason in nature and hence can be utilized for different purposes including wedding, home redesign, travel purposes and the sky is the limit from there. In addition, there is no limitation for the sum borrowed and can be utilized for any reason they need. Indeed, a personal loan can enable you to assemble your credit quicker when contrasted and different types of credit. This is a direct result of the hazard it conveys due to being unbound.

Personal loans have numerous points of interest over different types of credit, for example, credit cards and casual loans from companions, relatives or conniving lenders. Most salaried people, independently employed and experts can apply for personal loans. With appealing interest rates, insignificant documentation and fast preparing, Banks offers among the best personal loans today.

Any Indian inhabitant who is a functioning worker of a MNC, Public or Private limited company and is between 21-58 years old is qualified for profiting a personal loan.You can exploit alluring highlights like adaptable residencies, aggressive interest rates, pocket-accommodating reimbursements and fast disbursals.

Personal loan is equipped for satisfying all your crisis and spontaneous money related needs. Apply for a personal loan through cochin money related Services and get fast access to assets to fund your costs effortlessly.

If you have an existing Loan, we helps you to take over the loan from your current to a new bank with less interest rate based on your eligibility and also helps you to Top up the loan with more amount.

FEATURES AND BENEFITS
  • MINIMAL DOCUMENTATION
  • NO COLLATERAL
  • SIMPLE AND EASY TO GET
  • NO RESTRICTIONS ON HOW TO SPEND
  • FLEXIBLE TENURE

Required Documents

Personal loan for Government employees and Private Limited Company employees with a minimum salary 20,000 INR (bank through salary only)
  • Salary Certificate in Company Letter head /6 months pay slips
  • Copy of Job Contract
  • One year bank statement in which salary is credited
  • form 16, ITR and computation (2018 and 2019 march)
  • Qualification Proof ( if professional)
  • Job ID card
  • pan card, Adhaar card
  • Co-Applicant Details (Photo, ID ,Address proof )
  • Loan sanction letter & loan track (starting to till date)

 

 

Features

All loans are not created equal, Loans has become a great option for people to use.

Faster Loan

Cochin Financial Services helps you to get the loan faster than any other consultants! Starting from document prepartion, our main motto is to get you the money!

Choose amount

All charges are communicated up front in writing along with the loan quotation, and let us know how much money you want and we set strategy accordingly.

Enjoy the best rates

Our loan rates and charges are very attractive. We always get you loan for the best interest rates in the market. Its upto us to get you a hassle free loan.

Decide your tenure

As our loan rates and charges are very attractive, we help the clients to workout on tenure which never become a burden for them. We works for you.

 

Loan Eligibility

Main factors that determine eligibility for personal loan are

ProfessionSalaried persons working in government, private or MNC companies and self employed professionals like Doctors, CA, CS, Architects
Eligible Age21 years to 60 years
Minimum Income for Loan EligibilityRs. 25,000 per month for salaried; Rs. 5 Lakh gross annual receipts for professionals
Work Experience Required3 years and above
Experience in Current CompanyVaries from 1 month to 1 year
Minimum CIBIL Score650
Maximum EMI as percent of Income65%

 

Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

Your bank will assess your repayment capacity while deciding the home loan eligibility. Repayment capacity is based on your monthly disposable / surplus income, (which in turn is based on factors such as total monthly income / surplus less monthly expenses) and other factors like spouse’s income, assets, liabilities, stability of income etc. The main concern of the bank is to make sure that you comfortably repay the loan on time and ensure end use. The higher the monthly disposable income, higher will be the amount you will be eligible for loan. Typically a bank assumes that about 55-60 % of your monthly disposable / surplus income is available for repayment of loan. However, some banks calculate the income available for EMI payments based on an individual’s gross income and not on his disposable income.

The amount of the loan depends on the tenure of the loan and the rate of interest also as these variables determine your monthly outgo / outflow which in turn depends on your disposable income.

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You repay the loan in Equated Monthly Installments (EMIs) comprising both principal and interest. Repayment by way of EMI starts from the month following the month in which you take full disbursement.

The longer the tenure of the loan, the lesser will be your monthly EMI outflow. Shorter tenures mean greater EMI burden, but your loan is repaid faster. If you have a short-term cash flow mismatch, your bank may increase the tenure of the loan, and your EMI burden comes down. But longer tenures mean payment of larger interest towards the loan and make it more expensive.

Yes, most banks allow you to repay the loan ahead of schedule by making lump sum payments. However, many banks charge early repayment penalties up to 2-3% of the principal amount outstanding. Prepayment penalty may vary according to the reasons and source of funds – if you obtain a loan from another bank for pre-payment the charges are usually higher than when you pay from your own sources. However, you may credit more than your EMI amount into your loan account on a periodic basis and bring down your interest burden as and when funds are available with you. Most banks do not charge a pre-payment penalty if you deposit more than your EMI payable on a periodic basis. Please check such stipulations while availing the loan.

Get a Quote

Now apply for a Loan online, All you need to do is provide your details below application form.



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