Personal Loan

Find Low-Interest Rate Personal Loans in Kochi & Pay Less EMI with Low-Interest Rate


Kochi is a major city in Kerala. It is home to numerous public and private banks that provide borrowers with personal loans. They provide personal loans at low interest rates with extended repayment periods.

A large number of financial institutions in Kerala can help you secure a personal loan. Some of these banks offer interest rates as low as 10.99% and repayment terms as long as five years.

With a secure income, Kochi citizens can apply for and receive personal loans to cover their various expenses. Most people often take out personal loans so that they can pay for large, one-time expenses. Weddings, new cars, house improvements, or buying a house are some of them. 

Personal loans are becoming increasingly common in Cochin since they are easy to obtain. They also have low requirements for qualification.

Personal loans are often sought by the people of Kochi for the following reasons.

  • Medical bills, house improvements, wedding costs, long-lasting personal items, unexpected trips, and other unforeseen expenses can all be covered with the help of a personal loan. 
  • Personal loans are effective as debt consolidation loans. 
  • The interest rate on a personal loan is typically lower compared to other forms of debt, like credit cards. This allows the borrower to save money over time.

Benefits of Personal Loans in Kochi 

With personal loans in Kochi, the money can be deposited into your account within a day. A few of the many benefits of applying for a personal loan in Kochi are listed below. 

Low-Interest Rates 

Personal loans in Kochi are available at low interest rates. They are manageable for both salaried and self-employed borrowers. Various banks in Kochi offer personal loans to people at very low interest rates. For example, HDFC Bank offers personal loans at 10.75–21.50%, Kotak Mahindra at 10.50–16.99%, and Union Bank at 9.03% interest.  

No Security Needed

You don’t need to put anything down as collateral. This is one of the main benefits of applying for a personal loan in Kochi.

Flexible Repayment Terms

Personal loan providers in Kochi offer a wide choice of payback terms (12–60 months). This helps borrowers budget their EMIs easily around their actual monthly costs of living.

Quick Approval

Collateral-free personal loans in Kochi necessitate a few paperwork requirements. Loans are approved instantly for qualified borrowers who match the company’s standards and submit the required documentation. 

Eligibility Criteria for Personal Loan in Kochi

A personal loan at low-interest rates is available in Kochi if the borrower meets the following requirements.

  • A resident of India who can legally enter the country and is at least 21 years old but not older than 58.
  • Salary professionals who have worked for an organisation for a minimum of six months.
  • A professional who chooses to work for himself should have been in business for at least two years.
  • The minimum monthly income required to apply for a personal loan in Kochi is Rs. 20,000.

Documents Needed to Get a Personal Loan in Kochi

You can easily apply for a personal loan in Kochi. You can either fill out and submit an online application form or visit the bank’s local branch with a copy of your PAN.

Personal loan applicants in Kochi, whether salaried or self-employed, are required to submit some documentation. It has a passport photo and the required Know Your Customer (KYC) documents, such as proof of identification, proof of residence, and proof of income.

Applicants who work for someone else or are self-employed must show six months of bank statements to prove their income.

Finding Personal Loan Interest at a Low Rate

When applying for a personal loan, there are a few things to keep in mind to ensure you get the best possible terms. When borrowing money, the interest rate you pay is subject to change according to the financial institution you go with. However, you must evaluate your creditworthiness before applying for a personal loan. 

If you have a high credit score, you will pay a reduced interest rate, and vice versa. You can get the money you need at a reasonable interest rate if you have a strong credit score. A credit score over 750 will make it much easier to secure a large loan at a cheap interest rate.

Consider your financial needs thoroughly before applying for a personal loan. Doing so can save you from taking on unnecessary debt in the form of interest payments. It is important to determine how much money you will need to avoid wasting money on interest.

Personal Loan Interest Rates in Cochin 2022

Residents in Cochin can obtain personal loans from several significant public and private sector banks. The top banks in Cochin are listed below with their personal loan interest rates.

BankInterest Rate
HDFC Bank10.5%-21%
Kotak Mahindra10.25% onwards
Bank of Baroda10.50% – 12.50%
Bank of Maharashtra9.45% p.a. -12.80% p.a.
Central Bank9.85% p.a. -10.05% p.a.
IDBI BankUp to 10.90%
Indian Overseas Bank10.50% p.a.
State Bank of India9.60% – 15.65%
Yes Bank10.99% onwards (Fixed)
IDBI BankUp to 10.90%
Indian Overseas Bank10.50% p.a.

Minimum Salary Needs to avail Personal Loans in Cochin

Those seeking personal loans must meet the criteria of the bank. For the bank to evaluate an application, the borrower must be either salaried or self-employed. They must submit proof of income. 

Employees in Kochi who take personal loans must have a monthly income of at least Rs. 20,000. But, self-employed people need to show that they make at least Rs.1 lakh annually to qualify for a loan.


You can make plans for securing a low-interest personal loan in Kochi by considering all the given information. At Piramal Finance, we have a seasoned financial team that can handle any of your financial concerns. We select the finest offer after examining all of them.