Kerala Gramin Bank Personal Loan

Personal Loan at 10.75% p.a

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Kerala Gramin Bank Personal Loan Features

Kerala Gramin Bank Personal Loan Eligibility Criteria Details
Kerala Gramin Bank Personal Loan Interest Rate 9.75% p.a.
Kerala Gramin Bank Personal Loan Lowest EMI per lakh Rs 2112
Kerala Gramin Bank Personal LoanTenure 12 to 60 months
Kerala Gramin Bank Personal Loan Processing Fee 1% to 2% of Loan Amount
Kerala Gramin Bank Personal Loan Prepayment Charges Allowed after 12 Months (2 – 4 %)
Kerala Gramin Bank Personal Loan Part Payment Charges Allowed after 12 Months (2 – 4 %) 
Kerala Gramin Bank Personal Loan Min Loan Amt ₹ 50,000
Kerala Gramin Bank Personal Loan Max Loan Amt ₹ 75 Lakh

About Kerala Gramin Bank Personal Loan

Kerala Gramin Bank is a Regional Rural Bank and its headquartered at Malappuram in Kerala, India. Central as well as State Governments jointly own the bank and sponsored by Canara Bank. It is the largest Gramin Bank in India, 2018.

What is Personal Loan?

A Personal loan  is an unsecured debt which provides financial assistant to the borrower. To get a Personal Loan, the applicant needs to have a good source of income and good credit history. Furthermore, there is no restriction on the usage of the loan amount and its a quick and hassle-free process of taking a personal loan from Kerala Gramin Bank.

Kerala Gramin Bank Personal Loan Interest Rate

  1. Interest rates of Kerala Gramin Bank start from 13.99% and can be up to 17.50% p.a.
  2. Processing fee is up to 2% of the loan amount.
  3. Loan tenure ranges up to 5 years.
  4. Prepayment charges are NIL up to 5 percent.

More About: Interest Rates on Personal Loan

Why should one take Kerala Gramin Bank Personal Loan?

  1. First of all, they charge very less processing fees.
  2. Secondly, they require less or minimal documents.
  3. Next, the process of approval is quick and hassle-free.
  4. And, there is no cosigner required.
  5. Also, it provides an affordable rate of interest.
  6. The loan given by them is Collateral free.

Documents required for Kerala Gramin Bank Personal Loan

  1. Identity Proof : Aadhaar card, Voters ID card, Passport and Driving license
  2. Address Proof : Ration Card, Passport, Electricity Bill, Rental agreement, Trade License, and Sales Tax Certificate.
  3. Banks Statement : Statement of the previous six months.
  4. Latest ITR : Income Tax Return with computation of income, Balance sheet, and Profit& Loss for the last two years certified by a Chartered Accountant.
  5. Proof of Continuation : Trade License, Sales-tax Certificate.

They also required for a certified copy of Board Resolution, Partnership Deed, Article of Association, and Memorandum of Association.

Kerala Gramin Bank Personal Loan Eligibility

  1. First of all, the age of the applicant should be 21-60 years.
  2. And, their current work experience is a minimum of 1 month
    and a maximum of two years
  3. Besides that, the minimum salary should be Rs. 12,000to 18,000 per month.

Kerala Gramin Bank Personal Loan Purpose

As the name is suggesting, a personal loan can be for any of personal use purpose. But generally, there are some purposes for which people prefer to get a Personal Loan.

  1. First of all, people get a personal loan for wedding purposes. You can quickly get a personal loan in very less time.
  2. Also, personal loan is beneficial for higher education too.
  3. Some people get a personal loan for home renovation.
  4. Besides, people get a personal loan to close other loans.

Click here to know about- EMI Calculator

Kerala Gramin Bank Personal Loan Advantages

  1. Firstly, interest rates are quite affordable.
  2. Thus, the person can quickly repay their loan amount.
  3. Secondly, this loaning scheme is unsecured.
  4. As a result, there is no requirement of collateral
  5. Furthermore, both the salaried and self-employed individuals can take benefits from this loan.
  6. Moreover, the principal amount is entirely dependent on the borrower€™s documents submission.
  7. If an applicant CIBIL or credit score is right, you can get the loan amount without facing any problem.
  8. Now, you might be thinking about where I can use the loan amount.
  9. So, the answer to your question is anywhere. You can use it for paying your medical expenses, or you can go for an exotic vacation with the loan amount.
  10. Hence, personal loan comes with no spending restrictions.

How one applies for Kerala Gramin Bank Personal Loan?

It’s effortless to apply for a Kerala Gramin Bank Personal Loan; all you need is to do follow these simple steps and Now, once you are on our site, you need to provide your necessary details along with your phone number. It requires a very minimal time

      1. First, you need to visit our website www.loannow.in
      2. Please, it is essential that the applicant provide their correct contact details.
      3. Now once you fill the form, all the work is done.
      4. Then, our relationship manager will call you within 30 minutes and provide you the best offers and deals that you can get from near your location.
      5. Also, you don’t need to worry about paying anything as we provide free expertise to you.