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Personal Loan in Calicut

Being a spice trade center, several people settle in Calicut to make a living. During difficult times, to get financial support, a Personal Loan can be extremely beneficial. Moreover, availing of a Personal Loan does not require any collateral. Let us have a look at how to get an online Personal Loan in Calicut.


Features and Benefits of Personal Loan in Calicut

Here are some important features and benefits of availing of a Personal Loan in Calicut.

  • Fast Disbursement

Once the application and required documents are submitted, you can get an instant Personal Loan in Calicut.

  • Flexible Tenure

You can choose your tenure anywhere between 12 and 60 months. This can depend on your repayment capacity.

  • Online Access

You can access your loan account at any given time through the online customer portal.

Documents Required for Personal Loan in Calicut

To complete the Personal Loan application process, the following documents will be required.

  • Proof of Residence such as Aadhar Card, Driving License, Utility Bills, etc.

  • Proof of Identity such as Voter ID, Aadhar Card, PAN Card, etc.

  • Employment Proof such as Form 16, ITR, etc.

  • Proof of Income such as Salary slips, Bank Statements, etc.

Eligibility for Personal Loan in Calicut

To be eligible for a Personal Loan in Calicut, you need to have the following eligibility criteria.

  • Employment

To be eligible for a Personal Loan in Calicut, you must be a salaried individual.

  • Age

You should be a minimum of 21 years old and a maximum of 63 years old to avail of a Personal Loan.

  • Citizenship

You should be an Indian citizen to get an instant loan in Calicut.

Personal Loan Interest Rates in Calicut

You can calculate the total interest by using the below-mentioned formula where ‘r’ represents interest rate, ‘P’ represents the principal amount, and ‘n’ represents tenure in months.

Total Payable Interest = (P*n*r)/100

The Personal Loan interest rates in Calicut depend on various factors such as the following.

  • CIBIL Score

A good CIBIL score can ensure you a lower interest rate as it is proof of good credit habits and repayment habits. So, ensure that you have a good score.

  • Income

A steady income is an assurance to the bank that you have the capacity to repay your loan. The more your income, the lesser the interest rate.

  • Repayment History

If you have a good repayment history, you have more chances of getting a lower interest rate.

How to Apply for a Personal Loan in Calicut?

The process of applying is simple and can be done in 3 steps.

Step 1: First, fill in your details like full name, contact information, date of birth, mobile number, salary details, etc.

Step 2: If you are eligible, you will find a list of offers tailor-made for you. Select the loan amount and the tenure.

Step 3: The approval happens within 3 minutes and the amount is disbursed quickly.


In a Nutshell

You can apply for a Personal Loan through Finserv MARKETS with several benefits like fast disbursement, minimal documentation, and transparent process.