Personal Loan in Kolkata, Interest Rate @10.99%*, 21 May 2019

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Kolkata is a prominent city in the state of West Bengal, which serves as the capital of the state. It is the main centre for educational, commercial, and cultural activities. The city has a population of 45 lakh. It has a charming, colonial touch. It is famous for its many tourist spots and office complexes.

This city has many famous lenders including banks and non-banking financial companies (NBFCs) that provide top-class personal loans at affordable prices. You can pick a personal loan online or offline. To apply online, you will need to visit your bank’s official website or a third-party financial website. To apply offline, you will need to go to your lender’s branch and apply with the assistance of a branch executive.

Documentation needed to apply for an Kolkata Personal Loan

1. Photo ID and age proof
2. Signed application form with photograph
3. Residence proof
4. Last 6 months bank statement
5. Documentation for salaried applicants:
- Last 3 months salary – slips
- Form 16 or Income Tax Returns
6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Kolkata Personal Loan Interest Rates_{Updated on 21 May 2019}

Kolkata Personal Loan Details

Interest Rate (Monthly reducing balance)	13.49% - 34%
Processing Fees	0.5-2.5%
Loan Tenure	1 year to 5 years
Pre-closure Charges	2% - 5%
Guarantor Requirement	No guarantor required

Personal Loan in Kolkata

Kolkata has a number of banks and NBFCs offering personal loans—both secured and unsecured—to eligible customers. Unsecured loans, as the name suggests, are loans which do not require a collateral. Financial institutions consider various parameters before issuing an unsecured personal loan. In general, secured personal loans are easy to avail when compared to unsecured personal loans. Some of the leading banks issuing personal loans are HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra, etc. Loan comparison portals such as BankBazaar allow you to compare the personal loan products offered by different banks.

Personal Loans offered by Various Lenders in Kolkata

A few of the top lenders that offer personal loans in the city of Kolkata include:

Bank of Maharashtra
Bank of Baroda
Fullerton India
UCO Bank
IndusInd Bank
Bank of Punjab
Indian Overseas Bank
Allahabad Bank
Howrah Gramin Bank
Khardaha Co-operative Bank
Kotak Mahindra Bank
Oriental Bank of Commerce
State Bank of India (SBI)
The Bank of Rajasthan
ING Vysya Bank
Standard Chartered Bank
Dena Bank
Deutsche Bank
Tata Capital
Citibank
Andhra Bank
Canara Bank
IDBI Bank
Aditya Birla
Vijaya Bank
ICICI Bank
Axis Bank
HDFC Bank
Corporation Bank
Punjab National Bank

How do I get a Personal Loan with the lowest interest rate in Kolkata?

Most people prefer to apply for personal loans in the banks where they maintain their salary accounts, as the approval process becomes a lot easier. While it can be considered as an option for quicker sanctioning of loans, comparing and choosing the best suited loan is most desirable. Your personal loan eligibility is affected by numerous factors which can also have an effect on the interest rates offered to you. So if you plan to avail a personal loan at a low interest rate, here are some of the key areas you need to look upon:

Credit score: Make sure that you maintain a good credit score before applying for a personal loan. A good credit score increases your chances of getting an unsecured personal loan, which may even come as pre-qualified loans. Generally, a credit score 750 is considered satisfactory for availing personal loans.
Make a down payment: Paying out a significant portion of the loan amount is likely to reduce your premiums to a considerable scale. Any amount above 20% of the loan value, paid upfront, will positively impact the interest rates on your loan.
Debt-to-income ratio: Debt-to-income-ratio is a measure of the individual’s ability to repay the personal loan. It is a key determinant of your eligibility for personal loans. Ensure that you have a steady debt-to-income ratio before approaching a bank or NBFC for personal loans.
Loan comparison: Optimizing the use of financial portals such as BankBazaar will help you when shopping around for loans offering the best interest rates. The BankBazaar website compares the loan interest rates of all its partner banks and makes it easier for customers choose the best suited product.
Tenure: The loan tenure has a direct impact on the interest rates charged on your personal loan amount. Therefore, choosing a short tenure will give you less interest rates and vice versa.
Employment status: Your employment also has a role to play in the approval of your personal loan. Banks take into account your work experience and the details of your employer while reviewing the loan application. So if you work for a company listed with the bank, you have higher chances of getting personal loans for a discounted interest rate.
Personal loan negotiation: It’s a known fact that most people settle for the interest rates offered by the bank. But to avail better rates of interest, negotiation is an imperative. So if you are someone applying for a loan at a bank where you holding your salary account, then you have higher chances of making a negotiation.

Personal Loan Interest rates in Kolkata 2018

Bank	Interest Rate Range	Processing Fee Range	Loan Amount	Tenure
Kotak Mahindra Bank	10.99% to 24% p.a.	Up to 2.5% of the loan amount along with GST or service tax	Rs.50,000 to Rs.15 lakh	1 to 5 Years
UCO Bank	11.20% to 11.45% p.a.	1% of loan amount	Up to Rs.10 lakh	Up to 60 months
Indian Overseas Bank	11.65% p.a.	Up to 0.50% of loan amount	Up to Rs.5 lakh	Up to 5 years
Fullerton India	11.99% to 23.99 p.a.	Information not provided.	Up to Rs.20 lakh for salaried and up to Rs.30 lakh for self-employed individuals	1 to 4 Years
Dena Bank	13% to 14% p.a.	1% of loan amount	Up to 9 times of net monthly income	Up to 36 months
Yes Bank	14% p.a.	Information not provided.	Rs.2 lakh to Rs.20 lakh	1 to 5 Years
Allahabad Bank	Information not provided	1.06% of loan amount	Information not provided.	1 to 5 Years
Aditya Birla	14% to 26% p.a.	Nil	Rs.25,000 to Rs.15 lakh	6 to 36 months
ICICI Bank	10.99% p.a. to 22% p.a.	Up to 2.25% of the loan amount along with applicable GST	Up to Rs.20 lakh	1 to 5 Years
State Bank of India	11.85% to 14.70% p.a.	1%	Rs.25,000 to Rs.15 lakh	Up to 84 months

Salary requirements to avail Personal Loans in Kolkata

The salary requirements may vary from one bank to another. However, compare the personal loan offers and make sure that you meet the minimum salary criteria required for a particular loan.

For salaried individuals – In general, banks offer personal loans to individuals above 21 years of age and earning a stable an income of above Rs. 15,000.
Self-employed individuals – Self-employed persons should provide proof of income and most banks have an income requirement of Rs.1 lakh to Rs.2 lakh (profit) annually.

Kolkata Personal Loan FAQs

Can I prepay my personal loan?
You can foreclose the loan amount after paying EMIs for a certain number of month as specified by the bank. However, prepayment charges will be levied.
How much time will it take for my loan to be sanctioned?
The approval time depends from one bank to another. Some banks approve your personal loans within 24 hours.
What are the additional charges applicable on personal loans?
You may be required to pay processing fees, which is normally 2% of the loan amount.
What are the loan tenure options that banks offer in general?
Personal loans can be repaid in a period ranging from 12 months to 60 months.
What is the maximum personal loan amount I can avail?
Depending on your income and repayment capacity, banks offer you loans starting from Rs.50,000 and it can go up to Rs.15 lakhs.

A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.

Important Personal Loan Pages

Personal Loan Eligibility By Banks

Personal Loan for Pensioners

Bank Based Personal Loan Status

Personal Loan EMI Calculator by Bank

Personal Loan Customer Care by Bank

Loans from Micro Finance Institutions

Personal Loans in Top Cities

Personal Loan Interest rates by Bank

Mudra Loan By Bank

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Kolkata Personal Loan Reviews

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Personal Loan
"Everything alright in Indusind"

0.5 5.0/5 "Blown Away!"

I have a personal loan from Indusind bank which is going to over June and i need to pay my last installment is yet to pay. Their interest rate was nominal. 3 years back, they have approved the loan and i got in 15 days the amount has been credited to my account. Since i have a personal account and current account i have chosen this bank. Branches are available are there only in Kolkata but out of the city there is no branches.

Was this review helpful? 1

MANISH BHATTACHARYYA , kolkata
Reviewed on May 18, 2019
Personal Loan
"Very good service"

0.5 4.0/5 "Great!"

I had taken my Personal loan from HDFC Bank a while back and the loan will be completed within a year, the overall experience was quite good. It was under a corporate offer so that they had given with a lesser interest rate and the processing charges where nominal as well. The loan amount has been sufficient and there hasn't been any hassle faced so far.

Was this review helpful? 2

AVIK GHOSH , kolkata
Reviewed on May 15, 2019
Personal Loan
"GOOD"

0.5 5.0/5 "Blown Away!"

I have applied for the personal loan with the HDFC BANK as the documentation process was simple and no issues with this loan also i got the loan on time added on that i got the loan on time. The customer support and responsiveness is good added on that the rate of interest was good.

Was this review helpful? 1

AFSAR HOSSAIN , kolkata
Reviewed on May 13, 2019
Personal Loan
"GOOD"

0.5 5.0/5 "Blown Away!"

The two wheeler loan applied through the HDFC BANK as i have applied it abs i got the loan on time also the banking process is good with no issues. I got the satisfactory loan amount with nominal rate of interest with this bank. The customer support is good.

Was this review helpful? 1

AFSAR HOSSAIN , kolkata
Reviewed on May 13, 2019
Personal Loan
"Not Satisfied with the services which they had provided"

0.5 2.0/5 "Expected more"

The experience with my personal loan from INDUSIND Bank has not been a good experience. The process was all fine and the loan amount was okay. But they had initially offered me with an interest rate of 10.99% and later on made it 11.29% and the processing fee with the loan was also high.

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PRADEEP KUMAR GUPTA , kolkata
Reviewed on May 12, 2019
Personal Loan
"Excellent Service"

0.5 5.0/5 "Blown Away!"

I had taken a Personal loan from CITI Bank a while back and the experience had been pretty good. The loan amount has been fine but the interest rate was pretty high than the market rate. The processing fee was nominal and the loan was closed. Their customer support team is quite helpful.

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SATISH SHAW , kolkata
Reviewed on May 12, 2019
Personal Loan
"Medium"

0.5 4.0/5 "Great!"

I have taken a personal loan in PUNJAB NATIONAL BANK for more than a year. The loan amount for 2Lakhs duration of 3 years.The rate of interest is nominal of 12.5%. There is no processing fee applicable. The customer service is good and responsiveness on time.

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SUNDARANANDA MANDAL , kolkata
Reviewed on May 10, 2019
Personal Loan
"Good service"

0.5 4.0/5 "Great!"

I applied for a personal loan and it happened to process quick. It took just a week time to get things done. Tenure period and the rate of interest is less here . I applied my loan with STATE BANK OF INDIA . Overall it has been good experience with this bank .

Was this review helpful? 4

ALOK EKKA , kolkata
Reviewed on May 09, 2019
Personal Loan
"Very lesser interest rate"

0.5 4.0/5 "Great!"

In SBI , I taken a personal loan six months before . They taken just four days for sanctioning the loan and I got a good customer service from them . They even given me a lesser interest rate being a regular customer to them . Because other banks were demanding for higher interest rates .

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UJJWAL KARMAKAR , kolkata
Reviewed on May 09, 2019
Personal Loan
"Good Service"

0.5 3.0/5 "Satisfactory"

I had taken a Personal loan from AXIS Bank almost two years back and the process in getting this loan was pretty simple. The loan amount has been fine but the interest rate with the loan was around 18.5% which was a little high. There was some processing fee which was nominal and the charges where also not high.

Was this review helpful? 4

SWARUP DAS , kolkata
Reviewed on May 06, 2019
Personal Loan
"High on ROI"

0.5 5.0/5 "Blown Away!"

I had a personal loan four years back with HDFC Bank. At that time they have charged a rate of interest of 18.5% which is very high. The processing charges are also on the higher side. Else the process was good and timely and in all I had no issues.

Was this review helpful? 1

AMIT JHA JHA , kolkata
Reviewed on May 02, 2019
Personal Loan
"I am not happy with their process"

0.5 2.0/5 "Expected more"

I am not satisfied with the Bajaj Finance ltd process because I taken an amount of Rs 50000 from them . When I am looking to repay the entire amount . They are not guiding me properly . They should contact the customers regularly for consulting about the advantages and disadvantages of the process .

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DEBASISH SAHA , kolkata
Reviewed on Apr 28, 2019
Personal Loan
"Very faster process"

0.5 5.0/5 "Blown Away!"

In HDFC , I got a expected personal loan amount from them . They processed my loan in very faster process and sanctioned it on time . But I never understand the interest rate because before filling the application loan they had informed me lesser interest rate . But when they are sanctioning he loan they informed the higher interest rate .

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ANUP KUMAR DUBEY , kolkata
Reviewed on Apr 28, 2019
Personal Loan
"Its Excellent"

0.5 4.5/5 "Excellent!"

I took personal loan with ICICI, there was no processing fee its a best place. I availed Rs. 6 lakhs for the duration of five years. The bank does not have part payment only foreclosure option is there after one year of emi. Being an existing customer still I need to submit all the documents they taken some time for the disbursement.

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BISWAJIT DAS , kolkata
Reviewed on Apr 27, 2019
Personal Loan
"One stop solution for all your loan needs"

0.5 4.5/5 "Excellent!"

Bank Bazaar is very response and faster within turn around time, its my first experience with them for HDFC loan. The process was simple without visiting to the bank. I got to know the site through advertisement, their associates have coordinated well and connected with the bank on time. They gave me follow up on the loan process.

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BISWAJIT DAS , kolkata
Reviewed on Apr 27, 2019
Personal Loan
"The loan process should be faster"

0.5 4.0/5 "Great!"

I have availed Rs. 2.5 lakhs of personal loan from HDFC. the bank taken Rs.3100 as processing fee and remaining amount was credited in the account. The rate of interest was around 11.25% it was nominal in the market. There was a slight delay from the bank end they took around 12 days I need to do couple of follow up.

Was this review helpful? 1

BISWAJIT DAS , kolkata
Reviewed on Apr 27, 2019
Personal Loan
"The loan process should be faster"

0.5 4.0/5 "Great!"

I have availed Rs. 2.5 lakhs of personal loan from HDFC. the bank taken Rs.3100 as processing fee and remaining amount was credited in the account. The rate of interest was around 11.25% it was nominal in the market. There was a slight delay from the bank end they took around 12 days I need to do couple of follow up.

Was this review helpful? 1

BISWAJIT DAS , kolkata
Reviewed on Apr 27, 2019
Personal Loan
"GOOD"

0.5 5.0/5 "Blown Away!"

I have applied or the personal loan with the ICICI BANK where the documentation process done simple and i got the loan within 30 days. The loan amount was good also the rate of interest was 15.99% with this loan. The duration for repaying the loan is for 24 months.

Was this review helpful? 3

SUBHADEEP DAS MODAK , kolkata
Reviewed on Apr 26, 2019
Personal Loan
"Excellent Service"

0.5 5.0/5 "Blown Away!"

I had taken a Personal loan from AXIS BANK a long time back where it was a pre approved loan. The loan amount was around 75,000 and the interest rate was around 16.66% which was okay. There has also been foreclosure charges of 3% to 4%. Overall their customer support where helpful as well.

Was this review helpful? 2

SUVRA DAS , kolkata
Reviewed on Apr 26, 2019
Personal Loan
"Excellent service"

0.5 5.0/5 "Blown Away!"

I hold short term personal loan with Early salary, i am very much happy with their service, they use to response me well, the loan amount they have given me based on my eligibility and if i pay thrice the payment my loan will be double, within 2 minute i got loan, they have charged processing fee up to 100 rupees with was nominal.

Was this review helpful? 1

AMIT SHRIVASTAV , kolkata
Reviewed on Apr 25, 2019

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Kolkata Personal Loan