Science City, Kolkata, India

Personal Loan in Kolkata

A personal loan is an unsecured loan and can be used for various purposes. Like other metro cities in India, personal loans in Kolkata can also be easily acquired during emergencies via instant loan apps and credit portals. Personal loan finance not only supports urgent cash but also provides support to fulfil dreams and aspirations.

Kolkata, being a metropolitan city and commercial hub, has quality finance companies offering personal loans at an affordable rate of interest. It further makes repayment of EMIs easy with no excess of interest charged. Multiple financial institutions offer personal loans in Kolkata at low-interest rate followed by low processing fees or no fees as per the borrower’s eligibility criteria.

For the past few years, Kolkata has seen tremendous growth and expansion in various service industries. This has encouraged a lot of commercial players in Kolkata to acquire a Personal loans for business purpose. Moreover, digital technology has simplified loan application through online services instead of visiting the bank branch personally. Minimal documentation and eligibility criteria make personal loans in Kolkata easily available to the masses.

Personal Loan Interest Rates in Kolkata

Financial institutions offer an attractive rate of interest on personal loans in Kolkata. Generally, it is the lender’s responsibility to inform about the prevailing interest rate being levied on the loan amount. There are various factors that can affect your interest rate on a personal loan. Your credit score, loan type, employment and income are the key reasons to influence interest rate. The interest rate on personal loan in Kolkata starts at 10.50% annually. Although, the private financial companies which are not restricted to any RBI rules, may levy a lower interest rate on personal loan in Kolkata that may be less than a standard rate of interest.

Feature and Benefits of Personal Loan in Kolkata

Availing personal loan in Kolkata is a hassle-free process. Know the features and benefits to maximise the use of personal loan

Minimal documentation

Except for a couple of KYC documents and income proofs, no other document is required.

Quick loan approval

Personal loan in Kolkata ensures fast approval within 24 hours after all the loan documents are verified accurately.

Collateral free process

Being an unsecured loan type,a personal loan does not require any assets or property for security against the loan.

Automated repayment

Automatic debit of EMI amounton a scheduled date eliminates the scope of delay and missed payments. Timely payments increase the credit score.

Check loan statuss

Customized instant loan apps give a personal login and dashboard where borrowers can easily know the loan status – approved, in the queue, delayed or rejected.

Customize Loan Amount & EMI

Loan EMI calculator allows setting of the loan amount and tenure using a slider. It further derives EMIs which can be edited and changed till the amount becomes suitable for the borrower.

How to Apply For Personal Loan in Kolkata

Applying for a personal loan in Kolkata has become an easy process with the revolutionary personal loan platforms available online.Follow the below steps to speed up loan application in Kolkata:
  • 1. Fill in the loan application form with your basic details to begin the process
  • 2. Register your mobile number or Email ID on the loan app
  • 3. Prefer the paperless way of submitting the documents by just uploading the documents or entering the document numbers to save time and energy of collecting photocopied documents.
  • 4. With online personal loan application, you get a chance to calculate loan amount, repayment tenure and EMI
  • 5. Wait for verification of submitted documents. It differs from lender to lender. Some have instant verification, and others may take a couple of days.
  • 6. Once the documents are verified and checked, the loan amount will get approved immediately and disbursed into your account.

Documents Required and Eligibility Criteria

Before applying for a personal loan, know about the mandatory documents to prevent any kind of hindrance while taking a personal loan in Kolkata. Documents required for salaried/self-employed employees are

  • 1Identity Proof such as Aadhar Card/PAN Card/ Driving Licensce
  • 2Address Proof such as Ration Card/ Passport/ Electricity Bill/ Telephone Bill/ Voter ID Card
  • 3Latest 3-months bank statement
  • 4Income Proof inclusive of last 3-months’ salary slip and ITR for the last 2 years
  • 5Proof of business ownership and continuity for self-employed)
  • 6Applicant should be a resident of India
  • 7Applicant should be either salaried or self-employed individual
  • 8Applicant should be in the age group between 21 to 58 years of age
  • 9Complete the submission of the above-mentioned mandatory documents


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