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Max Tenure
6 - 48 Months
Best Rate
15%
Processing Fee
4%
Features
- Instant approval
- End to end digital journey
- Same Day Disbursal
Pricing
- Processing fees: 4%
- Interest rate: 15% - 36%
- Installment Cycle: 5th of every month
Documents Required
- No documents required
Max Tenure
NA
Best Rate
1.58% P.M
Processing Fee
2%
Features
- Minimum documentation
- No hidden fees
- Wide geographical presence
- Informal documents are also accepted
- Service at your doorstep
- Cluster based lending
Pricing
- Interest Rate -22-29%
- Processing Fees-2-2.5%
Documents Required
- Identity proof (PAN, Voter ID, Passport)
- Address proof (Voter ID, Aadhar Card, Passport, Bank passbook copy with photo)
- Last 1 Year Bank account statement
- Business registration proof (any of the following) -
- Udyam Registration Certificate
- Shop and Establishment
- Trade License Certificate
- Small Scale Industry Certificate
- Export/Import Code Certificate
- Factory Registration Certificate
- Business Address proof (any of the following) -
- Any one of the Business Registration proofs from above with current business address
- Utility bills (Electricity, water or telephone bill in the name of business) not older than 2 months
Max Tenure
2 - 60 months
Best Rate
15.96%
Processing Fee
RS: 399/- to 2%
Features
- Disbursal in 116 seconds
- No foreclosure charges
- 100% Online Process
Pricing
Documents Required
- ID Proof
- Address Proof
- Income Proof (salary slip, bank statement)
By agreeing and accepting the terms and conditions set out herein, you provide your express consent to Social Worth Technologies Private Limited to access the credit bureaus and credit information report and credit score. You also hereby irrevocably and unconditionally consent to the usage of such credit information being provided by credit bureaus.
Max Tenure
24 to 48 Months.
Best Rate
12%
Processing Fee
3%
Features
- 100% Online Process.
- No Foreclosure Charges.
Pricing
- Interest rate: 1% P.M.
- Processing fee: Upto 3%
Documents Required
- ID Proof.
- Address Proof.
- Bank Account Details with E-Mandate Facility.
Your application will be subjected to Bureau Enquiry.
Max Tenure
12 - 36 Months
Best Rate
19%
Processing Fee
1.5%
Features
- Completely digital process
- Quick approval and disbursals
- Flexible repayment plans
Pricing
- Processing Fees : 1.5% to 3%
- Interest rate ranges from 19% to 29% per annum
Documents Required
- ID Proof
- Address Proof
- Income Proof (Bank statement, Salary Slip)
Max Tenure
12-36 Months
Best Rate
10.99% P.A.
Processing Fee
2%
Features
- Instant approval
- End to End digital journey
- Same Day Disbursal
Pricing
- Interest rate ranges from 15% to 26% per annum
- Processing Fees : 3%
Documents Required
- ID Proof
- Address Proof
- Income Proof (Bank statement, Salary Slip)
Max Tenure
12-60 Months
Best Rate
10.99%
Processing Fee
2%
Features
- Loan options from 50K to 5 lakhs
- Tenure up to 36 Months
- Fully Digital Process
- No Physical documents required
Pricing
- Interest Rate starting from 10.99% P.A
- Processing Fee: 3%+GST
Documents Required
- Employment Documents (If Required)
Loan Amount
50K
Max Tenure
12 Months.
Best Rate
35.1%
Processing Fee
2.5%
Features
- Minimal Documentation.
- Quick loan processing.
- NTC also allowed for 50 k.
Pricing
- Interest rate - 35% to 37% P.A
- Processing fee - From 2.5%
Documents Required
- ID Proof.
- Address Proof.
We are an authorized sourcing partner for Shriram Finance Limited Personal Loan.
Loan Amount
1L
Max Tenure
18 Months.
Best Rate
28%
Processing Fee
2000₹
Features
- Quick loan processing.
- Minimal documentation.
- Min Eligiblity Criteria.
Pricing
- Interest rate - 20% to 30% P.A.
- Processing fee - From 2.5%.
Documents Required
- ID Proof.
- Address Proof.
- Salary slip and appoinment Letter (for amber Customers).
- Income proof (3 Months BS ).
We are an authorized sourcing partner for Shriram Finance Limited Personal Loan.
Loan Amount
1_5L
Max Tenure
36 Months.
Best Rate
35.07%
Processing Fee
Nil*
Features
- Quick loan processing.
- Minimal documentation.
- Min Eligiblity Criteria.
Pricing
- Interest rate - 20% to 36% P.A.
- Processing fee - From 2.5%.
Documents Required
- ID Proof.
- Address Proof.
- Salary slip and appoinment Letter (for amber Customers).
- Income proof (3 Months BS )
We are an authorized sourcing partner for Shriram Finance Limited Personal Loan.
Shriram City Union Personal Loan
Loan Amount
75K
Max Tenure
1 year
Best Rate
35.1% p.a
Processing Fee
2.5%
Moneyview Instant Personal Loan
Max Tenure
3 – 60 months
Best Rate
1.33% P.M
Processing Fee
From 2%
Shriram City Union Personal Loan
Loan Amount
20K
Max Tenure
1 year
Best Rate
35.1% p.a
Processing Fee
2.5%
Shriram City Union Personal Loan
Loan Amount
35K
Max Tenure
1 year
Best Rate
35.1% p.a
Processing Fee
2.5%
Personal Loans in Kolkata
All major banks and NBFCs offer personal loans in Kolkata. Popular banks and NBFCs that offer personal loans in Kolkata include: Kotak Mahindra Bank, Punjab & Sind Bank, Bank of India, SBI, Central Bank of India, HDFC Bank, ICICI Bank, HDFC Bank, IDBI Bank, Canara Bank, Axis Bank, Fullerton, Mahindra Finance, Bajaj Finance, Shriram Finance, Citibank, etc.Personal loans in Kolkata for salaried, self-employed, business people and NRI are available.
Features and Benefits of Personal Loans in Kolkata
- Easy documentation and quick approvals.
- Personal loans offered @ 7.99% p.a. onwards
- The repayment tenure is primarily up to 5 years and up to 7 years for some Banks/NBFCs
- High loan amounts
- No collateral or security
- Few lenders instantly disburse loans to their personal loan applicants.
- Flexible end usage other than for illegal purposes.
- Pre-approved personal loans provided to select customers
- Processing charges are mostly up to 4% of the loan amount
- Facility to apply online with most lenders
- Special offers for existing customers like a reduced interest rate, etc.
- Over-the-counter loans available with leading banks, subject to certain conditions
Comparison of Personal Loan Interest Rates 2023 In Kolkata
Bank | Range of Interest rate | Loan Amount | Loan tenure | Range of processing fee |
|---|---|---|---|---|
10.75% to 21.50% | Up to Rs. 40,00,000 | 1 to 5 years | Up to 2.50% | |
11.49% p.a. to 23% p.a. | Up to Rs.30,00,000 | 1 to 3 years | As per the loan agreement | |
20.00% - 22.00% | Rs.50K - Rs.2L | 1 to 3 years | 2.50% | |
Starting from 10.49% | 4,000,000 | Up to 5 years | 1.5% to 2% of loan amount +GST | |
Starting at 12% p.a. | Up to Rs. 500000 | 3 to 24 months | 2% to 3% of the loan amount | |
14.5% per annum onwards | Rs. 50,000 to Rs. 10,00000 | 1 to 5 years | 2% to 4% of the loan amount | |
12 to 28% | Rs. 30,000 to 7.5 Lakhs | 6 to 36 months | 6% to 8% of the loan amount plus GST | |
Starting at 7.99% | Up to 5,00000 | 6 to 36 months | - |
HDFC Bank Personal Loans In Kolkata
HDFC Bank has a strong presence in the city of Kolkata with over 200 ATMS and more than 100 branches. They also have many cash deposit machines and a dedicated retail loan branch for you to avail of personal loans in Kolkata.
Features and Benefits of The HDFC Bank Personal Loans in Kolkata
- Hassle-free online processes
- Repayment options
- High loan amounts of up to 40 Lakhs
- Simple application process
- Minimal documentation process
- Minimal processing fees
- Quick approvals
- Convenient repayment tenures of up to 60 months
- Pre Approved customers get funds in just 10 seconds
- Non-banking customers can avail the personal loan within 4 working days from the submission of all documents.
Axis Bank Personal Loans In Kolkata
Axis Bank personal loans in Kolkata come at affordable interest rates starting from 10.49% p.a. onwards. You can get high loan amounts up to 40 Lakhs with flexible repayment tenures up to 5 years.
Features and Benefits of Axis Bank Personal Loans
- Flexible repayment tenures
- Competitive interest rates
- Special offers for customers who want to transfer loans from other banks to Axis Bank.
- Various channels for repayment including RTGS, NEFT, and ECS
- Minimal documentation and hassle-free application process
Yes Bank Personal Loans in Kolkata
Yes Bank has a strong presence in the city of Kolkata. It offers personal loans at competitive rates and lowest EMIs.
Features and Benefits of the Yes Bank Personal Loans in Kolkata
- Quick disbursal of loan funds
- No collateral required
- Fast approval
- Instant disbursal
- Part prepayment option available
- Doorstep banking
- Pre Closure option available
- Top-up loan available
- Balance transfer option available
Muthoot Finance Personal Loans in Kolkata
Muthoot Finance gives instant personal loans for all your financial needs.
Features of Muthoot Personal Loans in Kolkata
- Attractive interest rates starting from 14.5%
- Flexible repayment schemes
- Minimal documentation
- Simple process
- Multipurpose loans available for wedding, business expansion, and medical emergencies.
Credit Score For Personal Loans in Kolkata
It is essential to have a good credit score before applying for a personal loan in Kolkata. You will be able to get favorable interest rates and high loan amounts when you have a high credit score.Generally, a credit score of 750 and above is considered ideal for easy loan sanctions and affordable interest rates. It is not impossible to get a personal loan in Kolkata for bad credit, but the cost would be high in terms of interest rates.
Before you venture out to take a loan, it is recommended to enhance your credit score to a healthy number so that you can avail a personal loan at reasonably good terms and interest rates.
Don’t worry if your credit score is low, we at CreditMantri can help you improve your credit score with our expert tips and help you get the best personal loans.
Eligibility for Personal Loan in Kolkata
- Age criteria: The applicant should be between 21 years to 60 years (at the time of maturity of the loan).
- Salaried, business professionals, and self-employed professionals are eligible to apply. If you are not a regular wage earner, speak to your bank manager about your current situation.
- Credit score: Usually 750 and above can increase the chances of availing a personal loan
- Minimum monthly income for salaried people is typically Rs. 15,000 though the salary requirement depends on what tier of the city you live in and the company you work for.
- Must be staying in the same address/city for minimum 1 year
- Overall work experience must be at least 2 years
- Should have a stable employment history.
- Minimum income for self-employed individuals: Typically, an annual profit of Rs. 1 lakh to Rs.2 lakh is required for self-employed individuals.
You can check your personal loan eligibility in Kolkata online, on the lender’s website.
Documents Required For Personal Loans in Kolkata
For salaried/self-employed professionals:
Following is an overview of the documents generally required while applying for a personal loan in Kolkata:
For Salaried Employees
- Valid Identity Proof - Driving License, Passport, Voter ID Card, Aadhar Card, PAN Card (Any one document to be submitted)
- Signed application form with photograph
- Age Proof: SSC Certificate/ Aadhar Card/ Birth Certificate/Voter ID/PAN Card
- Valid Address Proof – Rent/Lease Agreement, Passport, Driving License, Ration Card, Utility bill (not more than 3 months old), Bank Statement
- Income Proof Documents – Most recent 6 months salary slip and latest Form 16
- Bank Statements: Bank statements for the past 6 months with salary credit
For those into business and the self-employed, the following might be requested for in addition to the documents mentioned above
- Proof of business existence
- Income tax returns (self and business) for the last 3 years
- Profit /Loss and Balance Sheet, duly attested by a CA for the last 3 years
- Other documents if any as directed by the Bank or NBFC
How To Apply For Personal Loans in Kolkata?
1. On CreditMantri
Step 1: Click on ‘Check Eligibility’ for the lender you want to apply. If you want to read more about the loan, click on know more.
Step 2: Fill in details like email ID, Mobile number, city, employment type, residence pin code, and info about any loans that you may have.
Step 3: Tick all checkboxes for agreement terms.
Step 4: Click on “Submit”
Step 5: Enter the OTP received on your registered mobile number.
Step 6: Proceed with the rest of the application and your application will be processed instantly
2. Online on the Lender’s Website Applicants can go to the official website of the lender and apply for the personal loan by following the instructions.
3. Offline application Applicants can walk into the lender’s office or the bank’s branch with all the relevant documents. Ensure that you have already checked the eligibility criteria, features and benefits, charges, and documentation needed, as listed above.
Factors impacting personal loan interest rates in Kolkata
- Income: Your income is important in determining the personal loan interest rate. When you have a good income, lenders perceive you as a less risky borrower. They feel confident that you will repay your loan on time. So, chances are more that you will get a preferential interest rate.
- Credit Score: The credit score plays an important role in determining the personal loan interest rates. If the credit score is good, then there are greater chances that your loan will be approved. Since personal loans are unsecured loans without any collateral, lenders base credit score as a factor for loan approvals and giving favorable interest rates.
Credit Score Range and Interpretation
Credit rating | Analysis | Interpretation |
|---|---|---|
300-550 | Poor | The credit score has to be increased. Indicates bad creditworthiness. No lenders. Even if you get loans, interest rates will be high. |
550-650 | Fair | The credit score has to be enhanced. There are very few lenders. Low creditworthiness. High-interest rates. |
650-750 | Good | Better interest rates, most lenders will be willing to lend, fair creditworthiness, but can still work to raise the score |
750-900 | Excellent | highly creditworthy, favorable interest rates, all lenders available, quick loan approval |
- Debt-to-income ratio: A high debt-to-income ratio is likely to impact interest rates since it conveys a higher debt burden. A debt-to-income ratio is the total amount you spend towards debt divided by your total income. Even if you are earning high, if a big proportion of your income is going towards debt, then lenders will see you as a risky borrower.
- Relationship with the Lender: If you have a good relationship with the lender, they are likely to lend to you at a lower interest rate. This is because they have all the details about you and have great trust in you.
- History of Defaults: Most lenders prefer to lend to borrowers who have had zero defaults over the past 12 months. So, if lenders find defaults in your credit history, they can either charge you a very high-interest rate or may even reject your loan application.
Personal Loan Customer Care Number in Kolkata
Most personal loan lenders in Kolkata have a dedicated customer care unit to ensure customer satisfaction. You can reach the customer support team of any lender via telephone, email, mail, or even fax to resolve your queries, issues faced, for feedback, and suggestions.
Personal Loan Status in Kolkata
If you have applied for a personal loan, then you should track its status. You can track the status of the personal loan through the following ways
- Online: by providing the applicant’s name, registered mobile number, or any other unique number provided by the bank.
- Offline: You can track the personal loan status offline by visiting the bank/NBFC branch, Calling the personal loan customer care or toll-free number, or netbanking.
Personal Loan Rejection in Kolkata
A personal loan can be rejected for several reasons. Some of the reasons for a personal loan rejection are, low credit score, low income, job instability, inaccurate details in application, too many pending loans, and not fulfilling the eligibility criteria.Personal Loan EMI Calculator
It is essential to know the personal loan EMI before opting for a personal loan. This helps in managing your finances with ease. It also helps you choose the best combination of the loan amount and the loan tenure. Based on the personal loan EMI Calculator, you can also choose the lender who offers the best interest rate on your personal loan.Personal Loan in Kolkata FAQS
1. What is the minimum and maximum loan amount for salaried people?
The loan amount depends on various factors like your net annual income, your repayment behavior, your credit score, credit history and your requirement.
2. Do I have to pledge any collateral in order to secure a personal loan?
No collateral or security is required for obtaining a personal loan in Kolkata.
3. How do I repay the loan?
You can repay the loan amount in convenient EMI (Equated Monthly Instalments).
4. What is an EMI?
EMI stands for Equated Monthly Installment and is the monthly amount you need to pay your lender towards servicing your personal loan—interest included.
5. Is there any restriction on the end-use of a personal loan?
The personal loan could be used for any legitimate purpose. Its end use is not restricted.
6. What is the interest rate on a Personal Loan?
The interest rate varies with each and every customer and depends on various parameters like credit history and credit score.
7. What are the 4 best ways to get a personal loan?
The 4 best ways to get a personal loan are through banks, peer-to-peer lenders, credit unions, and online lenders.
8. Who is not eligible for a personal loan in Kolkata?
To qualify for getting a personal loan application, you should be between 21 to 65 years old. Your personal loan application may be rejected if you do not belong to this age category. However, some lenders may give personal loans to people above 65 years. You must have a regular income to pay off your loan.
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