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Trivandrum, widely known as Thiruvananthapuram, is regarded as one of the best cities in Kerala in terms of housing and transport facilities in the country. The primary factors contributing to Kerala’s economy are rubber plantations, information technology, tourism, tea production etc. Moreover, the city is one of the major IT hubs in the country, with Trivandrum’s contribution of 80% to Kerala’s software export.

 

Since the economy of Trivandrum has created significant job opportunities, resultantly, the popularity of personal loans in Trivandrum has also become popular among the residents. Read ahead to know about such financing options in Delhi.

Top Personal Loan Providers and Interest Rates in Trivandrum

Trivandrum hosts a large number of financial institutions that offer personal loans along with other credit products with exclusive features. Therefore, with the assistance of leading financial institutions, personal loans in Trivandrum can be acquired without any requirement of guarantors or security.

For an availing personal loan in Thiruvananthapuram, borrowers must always seek lenders that provide personal loans at affordable interest rates. Nonetheless, refer to the table below to learn about the top lending partners and their offered interest rates and processing fees for a personal loan in Trivandrum:

Personal Loan in Thiruvananthapuram

Lender

Interest Rates

Processing Fees

Bajaj Finance Limited

13.5% p.a onwards

2% - 3% of the loan amount + GST or ₹500 + GST (whichever is higher)

Fullerton India

12% p.a onwards

Between 0% - 6% of the loan amount

PaySense

14% p.a onwards

2% - 2.5% of the loan amount + GST or ₹500 + GST (depends on whichever is higher)

Axis Bank

10.49% p.a onwards

Upto 2% of loan amount

Muthoot Finance

14.50% p.a onwards

2% - 4% of loan amount

SBFC Finance Pvt Ltd

14% p.a. onwards

2% of the loan amount

CASHe

30% p.a onwards

₹1,200 or 2% of loan amount, whichever is higher + GST as applicable

Prefr Partners

21% p.a onwards

3-5% (approximately) with minimum processing fee of ₹1,500 + GST

Fibe

14% p.a onwards

Starting from ₹399 + ₹100 stamp duty

KreditBee

15% p.a onwards

From ₹500 to up to 6% of the loan amount

Yes Bank

10.99% p.a onwards

From ₹1499 to 2.50% of loan amount

InCred

21% p.a onwards

Processing fee: 2%-4% of the withdrawal amount

mPokket

24% p.a. onwards

Processing fee: Rs. 50 to Rs. 200 + 18% GST depending on the loan amount with maximum APR of 48%

IIFL

16.50% p.a onwards

2.50% - 4% of the loan amount + GST

Disclaimer: Interest rates and processing fees mentioned here are subject to the regulations of the concerned insurance companies. Please contact your preferred insurer for more details.

Features & Benefits of Personal Loan in Trivandrum

Acquiring a personal loan can always come in handy during financial emergencies as it is one of the most convenient loans to obtain, involving minimal documentation and flexible eligibility. Moreover, there is no end-use restriction on the funds, thereby making it an all-purpose loan. Nonetheless, whatever might the requirement, one must ensure knowing about their monthly obligations to plan his/her finances seamlessly.

Therefore, if one is seeking for a personal loan in Trivandrum, he/she must be aware of the following list of benefits:

 

  • Flexible tenure: If your loan repayment tenure is flexible, then you can focus more on meeting varied professional and personal requirements with the sanctioned funds. Various reputed lenders provide the flexibility of tenure as per your requirements.

  • No collateral required: Since personal loans are unsecured variants, borrowers do not have to pledge any high-value asset as collateral to secure the funds. However, based on the income and credit repayment ability of the borrower, the amount is sanctioned. Therefore, borrowers can apply for a personal loan in Trivandrum without submitting any collateral.

  • Minimal documentation required: Applying for loans can be an extensive process with various document verification and processing involved. However, on the Bajaj Markets platform, borrowers can secure credit by submitting a few documents.

  • Faster approval: When availing of a personal loan in Trivandrum from the Bajaj Markets platform, borrowers do not have to wait around for a prolonged period to get the loan approved. All the processes are done online, and the loan amount is approved in minimum time.

  • Prompt disbursal and no hidden charges: After your loan gets approved, you do not have to wait for weeks for loan disbursal. Instead, your account gets credited within a few days. Moreover, lenders in Trivandrum ensure reliable financing through a convenient online application where the overall process remains transparent and involves no hidden charges.

Eligibility for Personal Loan in Trivandrum

Applying for a personal loan in Trivandrum is convenient with Bajaj Markets. However, to secure any credit, you must meet the following eligibility parameters:

 

  • Age: To apply for a personal loan in Trivandrum, your minimum age limit should be between 25-58 years.

  • Working status: Applicant is salaried working in a reputed MNC, public/private organisation.

  • Nationality: Applicant must be an Indian resident.

  • Income: Applicant’s minimum salary must be between Rs.25, 000-Rs. 35, 000 (depending on the location of the residence)

  • CIBIL score: Your credit repayment history must show a CIBIL score of 685 or more.

Depending on the documents you submit, your eligibility will be evaluated, and the loan amount will be sanctioned accordingly, along with exclusive offers. If you meet all the aforementioned eligibility parameters, your desired loan amount will be credited to your account within a few days.

Documents Required for Personal Loan in Trivandrum

After fulfilling the necessary qualifying parameters, you need to submit the following documents to secure a personal loan in Trivandrum seamlessly:

 

1. Application form: You need to fill out the application form with essential details and a passport size photograph.

 

2. Identity proof: You need to submit your passport, Voter ID card, passport, driving license as identity proof.

 

3. Age proof: Age proof must include PAN card, Voter ID card and passport.

 

4. Residence proof: Your address proof must include an electricity bill, license agreement, gas bill etc.

 

5. Financial documents: This involves documents like bank statements for the last 3 months along with income details, salary slips of last 3 months etc.

How to Apply for a Personal Loan in Trivandrum?

Bajaj Markets not only helps you in securing fair credit for meeting varied financial requirements but also allows you to apply for it conveniently. So, if you meet the above-mentioned eligibility parameters, you can apply for the credit by following the steps mentioned below:

 

  • Step 1: Firstly, visit the Bajaj Markets website.

  • Step 2: Select the personal loan option via the online application.

  • Step 3: Fill out the online application by inputting personal details, contact number, income details etc.

  • Step 4: Select the loan amount and repayment tenure that suits your requirements.

  • Step 5: Once your loan application is verified, the amount will be credited to your bank account in no time.

For further details regarding the application, you can contact a personal loan in Trivandrum contact number and get the necessary assistance.

To conclude, applying for a personal loan in Trivandrum has never been so convenient and hassle-free. You can secure your preferred loan amount within a few clicks. Moreover, leading financiers on Bajaj Markets offer substantial loan amounts, enabling you to fulfil your varied requirements.

FAQs on Personal Loan in Trivandrum

  • ✔️Why determining loan eligibility is so essential when applying for a personal loan?

    Determining your loan eligibility will help you to identify the kind of credits you are eligible for. This will further help you to apply for the right kind of loan.

  • ✔️If I am studying, will I be eligible to apply for a personal loan?

    No, a personal loan is only available for salaried individuals.

  • ✔️If I do not have a guarantor, can I apply for a personal loan in Trivandrum?

    Since personal loans are unsecured variants, hence, you do not have to show any guarantor.

  • ✔️How does my CIBIL score impact my personal loan eligibility?

    Credit score plays a significant role in determining one’s eligibility for a personal loan. Applicants with a good CIBIL score and repayment record can avail of substantial loan amounts at the most attractive interest rate.

  • ✔️Can I apply for more than one loan if I am eligible?

    Although it is not recommended, but you can apply for multiple loans at a time. However, this can negatively affect your credit score and reduces your chances of availing loan in the future.