Cosmos Bank originally located in India was established in the year 1906 and is counted amongst the oldest urban cooperative banks. It has in total of 140+ branches in India and over 2 million customers involved for its services.
In this post, I’ll cover the details regarding cosmos personal loan, its eligibility, features, contact numbers, and many more.
Table of Contents
Loan Details
| Sl. No. | Category | Data |
|---|---|---|
| 1 | Loan amount | Up to 5 Lakhs |
| 2 | Interest rates | 10.25% |
| 3 | Tenure | Up to 4 years (48 months) |
| 4 | Turn around time | 1 to 7 days |
| 5 | Dishonor charge | Rs 750 |
| 6 | Lowest EMIs | Rs 2,548 per Lakhs |
Steps to apply for Personal loan at Cosmos
Step-1: Fill up the loan application form available online after checking your eligibility
Step-2: Then submit all the documents asked for your verification
Step-3: When all the submission is done, bank authorities will check and verify your application for the personal loan
Step-4: After verification, you’ll be notified regarding your approval of personal loan
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Features of Cosmos Bank Personal Loan
- Attractive and easy loan amount of 5 lakhs
- Disbursal of loan within 3 days or 72 hours
- Flexible tenure period up to 4 years
- 10% interest rates are charged if your CIBL Score is above 750
Types of Personal Loan offered at Cosmos
There are around four basic types of personal loan offered to the individuals by Cosmos bank and they’re:
- Marriage loan: Covering the wedding expenses
- Education loan: Covering the study expenses
- Medical loan: Covering the urgent medical expenses
- Travel loan: Covering the travel expenses
Eligibility Criteria
- Applicants must of age between 21-65 years
- Applicant must be a salaried or a businessmen individual working in the reputed firms
- Work experience: 2 years (for salaried), 1 year (for businessman)
Documents Required
The required documentation for applying a personal loan at Cosmos bank are as follows:
For Cosmos Salaried
- 2 fully filled application forms
- Passport sized photographs
- Identity proof (Passport/Driving license/Aadhar card)
- Residential proof (Passport/Ration card)
- PAN card
- Income slips (last 3 months)
- Bank statement
- ITRs (last 3 months)
For Cosmos Businessmen
- 2 fully filled application forms
- Passport sized photographs
- Identity proof (Passport/Driving license/Aadhar card)
- Residential proof (Passport/Ration card)
- PAN card
- Bank statement (last 1 month)
- ITRs (last 1 month)
Comparison of Cosmos bank with other banks
| Sl. No. | Bank Name | Loan amount | Interest rates | Processing charge (without GST) |
|---|---|---|---|---|
| 1 | Axis | Up to 15 Lakhs | 10.25% onwards | 2% |
| 2 | IDBI | Up to 10 Lakhs | 14% | 2% |
| 3 | Deutsche | Up to 15 Lakhs | 9.9-11.4% | 2% |
| 4 | BOI | Up to 10 Lakhs | 8.35-10.35% | 2-4% |
| 5 | Canara | Up to 3 Lakhs | 11.2-13.9% | 0.5% |
Check status
You can easily track your loan application by clicking the following button:
Contact Details
Toll-free number: 1800-233-0234
Non toll-free number: +91-20-67086708
Mail-id: customercare@cosmosbank.in
FAQs
1]. What are the current interest rates at cosmos?
Cosmos offers competitive interest rates of 10.25%.
2]. Any guarantor is necessary for taking a personal loan?
No, guarantors are not mandatory.
3]. Does any collateral is asked by the bank for availing a personal loan?
No collateral or security is needed for a personal loan at Cosmos bank.
4]. Where can I use my Cosmos credits?
You can use them for traveling, shopping, housing, medical expense, etc.
5]. What maximum loan amount is given by Cosmos to consumers for a personal loan?
Rs 5 Lakh is the maximum amount for a personal loan at Cosmos.
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