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Personal Loan in Kollam
Kollam is a small city in Kerala. Personal financial needs can arise unexpectedly. One can find themselves needing a personal loan to fund their dream vacation, urgent medical expenses, home renovations, etc. This is where a Personal Loan in Kollam from Shriram Finance can help out. Shriram Finance offers loans for amounts up to ₹10,00,000/-*
Personal Loan Types in Kollam
When considering a Personal Loan in Kollam, it's essential to understand the different types available. Shriram Finance offers several options tailored to meet various financial needs:
Features and Benefits of Personal Loan in Kollam
Choosing a Personal Loan in Kollam from Shriram Finance comes with numerous features and benefits:
Quick Approval Process:
Seamless Experience:
Regular Reminders:
Flexible Repayment Options:
Collateral-free Loans:
Competitive Interest Rates:
Personal Loan Interest Rates and Charges in Kollam
Understanding the costs of a Personal Loan in Kollam is important for making smart financial choices. At Shriram Finance, we offer competitive interest rates that are easy to understand.
- Our rates start at 11%* p.a. *, but they can change based on factors like your credit score, income, and repayment capacity. This means your personal financial situation will affect the rate you receive.
- It's also wise to be aware of other possible charges, such as processing fees, which can be up to 3% of the loan amount, and any penalties if you decide to pay off your loan early. We believe in clear communication during the application process so you know exactly what to expect.
- By knowing these costs, you can plan your finances better and choose the right personal loan in Kollam. With Shriram Finance, you can feel confident as you take steps toward reaching your financial goals.
| Type of Fees | Applicable Charges |
|---|---|
| Interest Rate | Customised interest rates starting from 11%* p.a. |
| Processing Fees | Up to 5%* |
| Prepayment Charges | Up to 5%* |
| Late Payment Fees | 36%* p.a. |
These rates are designed to provide affordability while maintaining transparency.
How to Use the Personal Loan EMI Calculator
To effectively plan your finances, it's important to have the right tools with you. One such tool is the personal loan EMI calculator provided by Shriram Finance. Calculating your monthly instalments (EMI) is crucial before taking out a loan.Shriram Finance provides an easy-to-use EMI calculator on their website. Here's how to use it:
STEP 01
Required loan amount
STEP 02
Interest rate
Min 11%
Max 42%
STEP 03
Min 12 months
Max 60 months
Personal Loan Calculator Summary
Loan
Loan Amount
₹ 50,000
Interest Payable
₹ 3,029
Monthly EMI
₹ 4,419
Eligibility and Documentation Criteria for Personal Loan in Kollam
To apply for a Personal Loan in Kollam, certain eligibility criteria is important:
Eligibility Criteria:- Age: Applicants should be between 21* to 60* years old (on loan closure).
- Nationality: Must be an Indian resident.
- Income: The minimum monthly income requirement varies based on the loan amount.
- Employment Status: Salaried individuals employed with reputable organisations or self-employed professionals.
- Credit Score: A minimum score of 700 is preferred.
- Required Documents:
- Identity Proof
- Passport
- Driving License
- Voter ID
- PAN Card
- Address Proof
- Passport
- Driving License
- Gas Bill with gas book
- Other Documents
- Recent passport-size colour photographs
- Income Proof Documents for last 3 months
- Bank Statement for the last six months
- One cancelled Cheque and ACH form for the Electronic Clearing Mandate (eNACH)
Step-by-Step Application Process for Personal Loan in Kollam
Applying for a personal loan in Kollam with Shriram Finance is straightforward:
Step 1
Visit the official website or the nearest branch.Step 2
Fill out the online application form with the necessary details.Step 3
Submit the required documents for verification.Step 4
Wait for approval, which typically takes less than 24 houStep 5
Upon approval, funds will be disbursed directly to your bank account.
Our Personal Loan Branches in Kollam
Shriram Finance has established multiple branches throughout Kollam to simplify the process of applying for and managing personal loan. We understand that having easy access to our services is crucial, which is why our branches are strategically located in important areas of the city. If you need help with your loan application, have questions about eligibility, or want to learn more about repayment options, our team is here to assist you at every step. You can visit us in person for tailored support, ensuring a smooth borrowing experience. Our goal is to provide a seamless experience by combining accessibility with exceptional customer service. We aim to make borrowing straightforward and transparent for everyone in Kollam. Visit your nearest branch today, and let us help you achieve your financial aspirations! Key locations include:
Locate Us
Personal Loan Customer Care in Kollam
If you have any questions or need assistance regarding a personal loan in Kollam, Shriram Finance offers dedicated customer care services. You can easily get in touch with us by phone or visit any of our branches for personalised support.
Personal Loan Status in Kollam
To check the status of your personal loan application with Shriram Finance, we provide simple and quick options to keep you informed. Here how you can track your application:
- Visit Our Website: Head over to the official Shriram Finance site and navigate to the loan status section. Enter your application reference number to receive real-time updates on your loan's progress. This way, you can stay informed without any hassle.
- Contact Customer Care: If you prefer speaking with someone directly, our dedicated customer care team is ready to help. They can provide accurate information about your loan application status and answer any questions you may have.
Personal Loan in Major Cities in India
FAQs
What are the eligibility criteria for a personal loan in Kollam?
To qualify for a personal loan in Kollam from Shriram Finance, you must be an Indian resident aged between 21* to 60* years at the time of loan closure. Additionally, you will need valid identity and address proof, income documentation for the last three months, and bank statements for the past six months.
What is the interest rate on a personal loan in Kollam?
The interest rates for a personal loan in Kollam from Shriram Finance start at 11%* p.a. , depending on various factors such as your credit score, income, and repayment capacity.
Are personal loan in Kollam unsecured?
Yes, personal loan in Kollam offered by Shriram Finance are unsecured loans, meaning they do not require any collateral; however, having a good credit score is crucial for approval.
Can I prepay or foreclose my personal loan in Kollam?
Yes, you can prepay or foreclose your personal loan in Kollam with Shriram Finance; however, prepayment charges may apply according to the terms outlined in the loan agreement.
Can I apply for a personal loan online in Kollam?
Absolutely! You can easily apply for a personal loan online through the Shriram Finance website; this process is designed for convenience so that you can complete your application from home.
How can I check the status of my personal loan application in Kollam?
You can check the status of your personal loan application by visiting the Shriram Finance website and entering your application reference number; alternatively, contact customer care for updates.
What is the minimum income required for a personal loan in Kollam?
The minimum income requirement varies based on the loan amount and individual eligibility criteria; generally, applicants should demonstrate sufficient income to meet their repayment obligations.
Are there any hidden charges for a personal loan in Kollam?
Shriram Finance is committed to transparency; therefore there are no hidden charges associated with their personal loanall applicable fees and charges will be clearly stated during the application process.
Disclaimer
The information provided in this guide is for educational purposes only and should not be considered financial advice. Always consult with a financial advisor before making investment decisions related to fixed deposits or any other financial products.