Life is unpredictable, and emergencies can arise when you least expect them. In such times, securing a Personal Loan quickly can be a lifesaver. If you are in Kerala and need fast access to funds, there are many ways to get a Personal Loan for emergencies. Here is a guide for the same.

Apply for Personal Loans online

Applying for Personal Loans online is the fastest and most convenient option for emergency funds. Many financial institutions in Kerala offer quick online application processes, letting you apply from anywhere at any time. With minimal paperwork and fewer steps, online applications are processed faster than traditional methods. Many lenders approve Personal Loans in Kerala within a few hours.

Pre-approved Personal Loans

If you are an existing customer with a lender in Kerala, you might be eligible for a pre-approved Personal Loan. These Loans are processed much faster since the lender already has your financial information. Since they have verified your creditworthiness, the Loan approval is automatic and much quicker. Pre-approved Loans generally require little documentation or even no paperwork at all.

Visit the branch

Visiting any NBFC branch in Kerala also offers quick and efficient Personal Loans for those who prefer local options. If you already have an account with any NBFC in Kerala, they may process your Loan application faster. They understand the local market and may offer Loan products that better suit your needs. You must complete the application and submit the required documents at the bank.

Documents and eligibility for Personal Loans in Kerala

• KYC documents for identity, address, and income proof are compulsory for Personal Loan applications in Kerala.
• If you are a salaried individual, you must submit salary slips for the last three months. If you own your business, you must submit bank statements for proof of income.
• The basic monthly salary requirement to apply for Loan in Kerala starts at Rs. 20,000.
• The eligibility to apply for Personal Loans in Kerala is between 21 and 60 years.
• Even though there are no high requirements for Personal Loans, a CIBIL score of 750 or more is considered good in Kerala. If you have a good credit score, you can get a reasonable interest rate of 13% on Personal Loans in Kerala.
• Salaried individuals should have work experience of a minimum of two years to apply for a Personal Loan in Kerala.
• If you are self-employed, you must present a minimum turnover criteria depending on your lender.

Conclusion

Emergencies are unpredictable, and quick access to funds is crucial during such times. In Kerala, there are various fast solutions for getting Personal Loans to cover unexpected expenses. The key is to act quickly and have your documents ready to ensure a quick approval and rapid disbursal of the Personal Loan.

No matter the emergency, these options can help you quickly get the funds you need. Check your situation and you can handle your financial emergency efficiently in Kerala.