• Kolkata Personal Loan

    Kolkata is one of the most populous cities in India, and it rightly has a large number of banks that offer personal loans that cater to its citizens. Banks in Kolkata offer personal loans for interest rates starting from 10.99% and they come with easy EMI options and flexible tenures that not only make it easy to avail a loan, but also repay it in a smooth and hassle-free manner.
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    We found 18 Kolkata Personal Loan
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    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    10.75% - 21.50% Fixed
    Up to 2.50% One time fee
    40L Max
    1 - 5 Years
    Ad 100% PAPERLESS APPROVAL
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    11.00% - 16.75% Fixed
    Zero Processing Fee
    25L Max
    1 - 5 Years
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    25.00% - 32.00% Fixed
    3.00% One time fee
    75K - 5L
    1 - 4 Years
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    11.25% - 14.49% Fixed
    Bankbazaar Exclusive
    20L Max
    1 - 6 Years
    100% PAPERLESS APPROVAL
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    18.00% - 36.00% Fixed
    2.00% - 3.00% One time fee
    1L - 5L
    Upto 5 Years
    Only KYC docs required
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    11.99% - 25.00% Fixed
    3.00% - 6.00% One time fee
    25L Max
    1 - 5 Years
    100% PAPERLESS APPROVAL
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    13.00% - 30.00% Fixed
    Zero Processing Fee
    50K - 2L
    Upto 4 Years
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    10.50% - 16.99% Fixed
    Up to 2.50% One time fee
    50K - 25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
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    10.50% - 17.99% Fixed
    0.50% - 3.00% One time fee
    30L Max
    1 - 5 Years
    Accelerated Approval
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    16.50% - 20.00% Fixed
    Up to 2.00%(Min ₹2,000) One time fee
    15L Max
    1 - 5 Years
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    18.00% Fixed
    2.00% - 5.00% One time fee
    50K - 7.5L
    1 - 4 Years
    100% PAPERLESS APPROVAL
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    17.00% - 26.00% Fixed
    2.00% One time fee
    2L - 20L
    0.5 - 4 Years
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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 RatesUpdated on 04 Jul 2020

    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

    1. 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.

    2. 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.

    3. 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.

    4. 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.

    5. 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.

        

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    Kolkata Personal Loan Reviews

    • Axis Bank Personal Loan
      "Easy loan"
      0.5 4.0/5 "Great!"
      My salary account is maintained with AXIS Bank, based on this i got a loan offer. For the past one month i am using this account and the loan amount was Rs. 1.90L and the rate of interest was nominal 12.99% . I am paying EMI of Rs.4322 with the tenure period of 60 months.
      Was this review helpful? 5
      , kolkata
      Reviewed on Mar 16, 2020
    • IndusInd Bank
      IndusInd Bank Personal Loan
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      There is no reason for choosing my personal loan from Indusind bank. They have offered me a interest rate of 12% and i had applied the loan amount of Rs. 75000. I have given all the documents with the executive after that the loan has been closed from my side because the interest rate is high which am not interested.
      Was this review helpful? 1
      , kolkata
      Reviewed on Mar 16, 2020
    • Fullerton Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      The rate of interest and the processing fee was medium.The loan got sanctioned on proper time frame .This loan is still active and I got a proper followup from online site as well as from Fullerton .This loan was taken for take for personal use . The documents was submitted and uploaded also.
      Was this review helpful? 1
      , kolkata
      Reviewed on Mar 15, 2020
    • HDB Financial Services Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan directly through HDB financial services .This loan was taken for personal use and this loan was still active .The rate of interest and the processing fee was medium. The documents are submitted through the agent . The premium is paid on emi basis and there was no extra charges.
      Was this review helpful? 1
      , kolkata
      Reviewed on Mar 15, 2020
    • HDFC Bank Personal Loan
      "Good loan process "
      0.5 5.0/5 "Blown Away!"
      I have applied a personal loan through HDFC Bank directly. The rate of interest was normal and the loan amount was Rs. 4,00,000 with the tenure period of five years. I am paying EMI monthly Rs.9,500 their service was good and still the loan is running.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 15, 2020
    • HDFC Bank Personal Loan
      "Easy loan approval"
      0.5 5.0/5 "Blown Away!"
      The rate of interest was slightly high in HDFC Bank and i think the loan amount was Rs. 1.50L. The term i opted for 5 years and i am paying EMI 3000 something, there is a no pre closure charges. Documentation was simple i uploaded through online around 3 days it got disbursed.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 15, 2020
    • Tata capital Personal Loan
      "Need to decrease interest rate"
      0.5 5.0/5 "Blown Away!"
      TATA CAPITAL has provided the rate of interest is high of 20%. Since first time taken loan so interest will be high as banker intiamted. I got a call on time the process was smooth and have sanctioned the loan by 4.29L deducted some fee and insurance of 26K with tenure period of 4 years. EMI need to pay of 14,029 rupees. There is pre closure option after one year.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 12, 2020
    • IndusInd Bank Personal Loan
      "Good Loan Services"
      0.5 4.0/5 "Great!"
      I had applied the personal loan with INDUSIND bank without any particular reason and they have provided me a interest rate of 11.75% and they have taken a processing fee only Rs. 10. They have sanctioned my loan on time. They do have part payment and pre closure facility with the additional charges of 4%. I have opted the duration of 5 years.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 11, 2020
    • PaySense Personal Loan
      "Very Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      Actually Paysense is ready to provide the loan always and after every 6 months, they will upgrade the loan amount and i can do the top up also. Their loan process is very good and they have offered me a nominal interest rate but processing fee is low. I have selected the duration of 1 year to close this loan.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 10, 2020
    • HDFC Bank Personal Loan
      "Good Loan Services"
      0.5 5.0/5 "Blown Away!"
      I have a account in HDFC and i had my existing loan also with them for that i have preferred HDFC for purchasing my personal loan. I am applied for Rs. 2 lakhs but they have approved for Rs. 60K. They have provided me a interest rate of 10.99%. After the submission of all documents, the loan amount got credited to my account in 2 days.
      Was this review helpful? 2
      , kolkata
      Reviewed on Mar 10, 2020
    • Kotak Personal Loan
      "Easy loan approval"
      0.5 4.5/5 "Excellent!"
      I got an offer for personal loan directly from KOTAK Bank and the loan amount was Rs. 45,000. They blocked my card and they given this loan with the rate of interest was average. I am not sure with EMI and still the loan is active so based on my card they offered and I received this loan within 3 days.
      Was this review helpful? 2
      , kolkata
      Reviewed on Feb 29, 2020
    • Axis Bank Personal Loan
      "Need to decrease the rate of interest"
      0.5 4.5/5 "Excellent!"
      Rate of interest was very high 18% in AXIS Bank for the personal loan and the loan i was taken for Rs. 80k. EMI i am paying Rs.3000 and it got approved within 3-4 days, i have selected for 48 months. Pre closure charges is there and i got this loan offer directly from bank. AXIS Bank provides good customer service.
      Was this review helpful? 2
      , kolkata
      Reviewed on Feb 29, 2020
    • IndusInd Bank Personal Loan
      "Instant loan approval "
      0.5 5.0/5 "Blown Away!"
      The loan amount was Rs. 4L and the rate of interest was okay with Indusind Bank. EMI 14,200 with the tenure of 3 years i guess, pre closure charges really i am not sure. Based on my personal saving account i got offer and instantly loan got approved.
      Was this review helpful? 1
      , kolkata
      Reviewed on Feb 28, 2020
    • ICICI Bank Personal Loan
      "Interest rate was high"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from ICICI Bank and the loan amount was Rs. 3,00,000. The rate of interest was very high 15% and i opted for 5 years. I pre closed the loan amount and i paid 5% from outstanding when compare to other bank interest rate was high.
      Was this review helpful? 1
      , kolkata
      Reviewed on Feb 27, 2020
    • Tata capital Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan through Tata Capital Ltd .This loan was directly availed and the rate of interest and the processing fee was nominal.I am paying the premium on EMI basis .I have taken this loan for my personal use only.This loan is still alive on my account .
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 27, 2020
    • Axis Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Axis bank personal loan through bank.The rate of interest and the processing fee was nominal and this loan was sanctioned based on my requirement .There was no extra charges for delay payment .The loan process was clearly explained by the agent.I am satisfied with the service.This loan is still active and i am paying on EMI basis.
      Was this review helpful? 1
      , kolkata
      Reviewed on Feb 27, 2020
    • Axis Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Axis bank personal loan directly through bank. The rate of interest 11.25% and processing fee was nominal. This loan got sanctioned on time instantly, paperless approval since have salary account still this loan is active and paying the premium on EMI. This loan was availed for my personal use and the processing time was much faster.
      Was this review helpful? 1
      , kolkata
      Reviewed on Feb 26, 2020
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan direclty through HDFC Bank.The rate of interest and the processing fee was nominal and this loan was sanctioned on time .Everything was good to me so far and i am paying the premium on time without any delay.This loan was still active and there was no drawbacks faced.The process was done on quick basis .
      Was this review helpful? 1
      , kolkata
      Reviewed on Feb 23, 2020
    • Bajaj Finserv Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan through Bajaj Finserv. The rate of interest and the processing fee are very high and this loan is still active and there was no issues faced so far. This loan was sanctioned on time without any hassles. I have taken this loan for my personal use only and submitted the required documents as well.
      Was this review helpful? 2
      , kolkata
      Reviewed on Feb 23, 2020
    • IDFC FIRST BANK Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for personal loan through IDFC First Bank.This loan was availed for my personal use and the rate of interest and the processing fee was very high .This loan was sanctioned on time without any difficulties. The loan process was clearly shared by the agent .
      Was this review helpful? 2
      , kolkata
      Reviewed on Feb 21, 2020
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