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  • Kolkata Personal Loan

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  • 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
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    10.75% - 21.50% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Ad 100% PAPERLESS APPROVAL
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    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    Ad 100% PAPERLESS APPROVAL
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    25.00% - 32.00% Fixed
    3.00% + taxes One time fee
    75K - 5L
    Upto 4 years
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    11.25% - 14.49% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
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    18.00% - 36.00% Fixed
    2% - 3% + taxes One time fee
    1L - 5L
    Upto 5 years
    Only KYC docs required
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    11.99% - 25% Fixed
    3%- 6% One time fee
    25L Max
    1-5 Years
    100% PAPERLESS APPROVAL
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    13% - 30% Fixed
    0 Zero Processing Fee
    2L Max
    0 - 4 Years
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    Fees & Charges
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    Eligibility Criteria
    10.50% - 16.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
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    10.50% - 17.99% Fixed
    0.50% - 3.00%
    30L Max
    1-5 Years
    Accelerated Approval
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    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
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    18% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    100% PAPERLESS APPROVAL
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    17.00% - 26.00% Fixed
    2% + Taxes
    20L Max
    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 20 Feb 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

    • Tata capital Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for personal loan through Tata capital Ltd online .I have not taken this loan since rate of interest was too high hence postponed the plan.Not yet submitted any of my documents for this loan .The loan process was shared by the agent and there was no difficulties faced so far .
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 18, 2020
    • YES Bank
      Tata capital Personal Loan
      "Evey thing is good interest is high "
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from HOME CREDIT. Rate of interest was high 30% and the loan amount was Rs. 50k with the tenure of 36 months. EMI 2675 and the documentation was done by online within 2 days i received the amount. Customer service and response was good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 14, 2020
    • PaySense Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan through PaySense Service India Private Ltd.The rate of interest and the processing fee are really good .This loan was sanctioned on delay basis it took around 45 days and not conveyed any reason this was really not acceptable. Other than that the process was good to me.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 14, 2020
    • IndusInd Bank Personal Loan
      "Good Loan Service"
      0.5 4.0/5 "Great!"
      Indusind bank has offered a high interest rate for a personal loan. I have a savings account in thisbank When i went to the ATM for withdrawing the cash, i got the option called pre- approved loan worth of Rs. 1.09L when i click the same, the next day the amount got transferred to my account. For this loan process, I have given the documents through online. They gave me a interest rate of 22% which can be reduced.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 14, 2020
    • HDFC Bank Personal Loan
      "Better Loan Service"
      0.5 5.0/5 "Blown Away!"
      HDFC has responded me fast so that I have availed the personal loan with this bank. I have asked them loan amount of Rs. 3L but they have provided me only Rs. 1.89L. They charged me a processing fee of Rs. 6,200 provided interest rate is fine for me. I pay EMI amount of Rs. 6,650 for the duration of 36 months.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 14, 2020
    • review Personal Loan
      "Interest rate was high"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan from Bajaj Finance. The loan amount was Rs. 90k and the rate of interest was high. I was opted for 3 years tenure and i completed this loan. EMI i paid Rs. 3000 some thing, customer service and responsiveness was good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 13, 2020
    • review Personal Loan
      "Need to decrease interest charge "
      0.5 4.0/5 "Great!"
      I have taken a personal loan from BAJAJ FINANCE on 5 years back. The loan amount of 1.10L was sanctioned with tenure period of 3 years. I got this loan offer via bank. Main draw back rate of interest was high around of 13%. They were provided pre closure option but I didn't utilize it. I use to pay EMI of 1,160 rupees and I get remainder message on time for the payment. I have closed the loan but I am yet to receive NOC Letter.
      Was this review helpful? 1
      , kolkata
      Reviewed on Feb 11, 2020
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan directly through Bajaj Finserv .The rate of interest and the processing fee was high .I have availed this loan due to immediate requirement for my personal use. I have submitted the documents through the agent .I have not faced any issues until the loan disbursement.
      Was this review helpful? 1
      , kolkata
      Reviewed on Feb 10, 2020
    • Bajaj Finserv Personal Loan
      "User friendly"
      0.5 3.5/5 "Pretty good"
      I have taken personal loan through Bajaj Finserv directly .The rate of interest was very high it was 24% and the processing fee was 2 to 3 % .I have availed this loan for my requirement and paying the premium on EMI basis.This loan was a pre approval loan so not taken much time .
      Was this review helpful? 3
      , kolkata
      Reviewed on Feb 10, 2020
    • ICICI Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from ICICI BANK before 3 years. I received the message from the bank regarding the pre approved loan and amount got credited with in a minute. I have taken a loan amount around 13L with the interest rate of 10.99%, which is good.
      Was this review helpful? 2
      , kolkata
      Reviewed on Feb 06, 2020
    • HDFC Bank Personal Loan
      "Good "
      0.5 4.0/5 "Great!"
      The customer service of HDFC is good and prompt. They won't take much time to resolve the customer's query. The loan amount was absolutely fine for me. The rate of interest 11% is good. I am not aware about pre closure option. Since one of my family member is undergoing a surgery so for this purpose only I have applied a loan.
      Was this review helpful? 1
      , kolkata
      Reviewed on Feb 06, 2020
    • Union Bank of India Personal Loan
      "Easy loan approval"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan United Bank Of India and the loan amount was Rs. 1.50L. Since i am a staff of this bank they given a less rate of interest. I am paying EMI 4000 with the tenure period of 2 years. There is a no pre closure charges and i received this loan within a day itself.
      Was this review helpful? 1
      , kolkata
      Reviewed on Feb 03, 2020
    • EDELWIESS Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I applied for Edelweiss personal loan through online. The interest rate is little bit high. I have opted for Rs.1,50,000 with the interest rate 18%. The processing fee is 2%. I want to reach out the branch directly for part payment or pre closure.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 30, 2020
    • IDFC Bank Personal Loan
      "Easy loan approval"
      0.5 5.0/5 "Blown Away!"
      I have taken IDFC Bank personal loan which was applied through online. The loan amount was Rs. 1L and I am not sure with the rate of interest and EMI 4,600 with the tenure of 36 months. Their customer service was good, no pre closure and I have received this loan within 48 hours.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 30, 2020
    • HDFC Bank Personal Loan
      "Quick loan approval"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan of 60K through HDFC . The rate of interest and the processing fee was very high14% .I have got the loan on time and if I make the premium on delay basis there is extra charges. Their service was awesome. The tenure is 2 years . Its a pre approved loan because am using HDFC credit card based on that i got this loan within 10minutes.
      Was this review helpful? 2
      , kolkata
      Reviewed on Jan 29, 2020
    • ICICI Bank Personal Loan
      "Easy loan approval "
      0.5 5.0/5 "Blown Away!"
      I have topped up my personal loan with ICICI BANK. They have provided me a 75K with the normal rate of interest which I need to pay for 3 years. The EMI is Rs.2776 and paid through ECS. Their service was good and documentation was less only submitted smart card.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 29, 2020
    • IDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have received a promotional call saying that my credit score and payment history is good hence they have offered me a loan amount of Rs. 1L but I have taken only Rs. 30,000 for the test purpose. They have given me a interest rate of 13% per annum. I have selected the duration of 24 months. I pay EMI amount of Rs. 1610 for every month.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jan 29, 2020
    • ICICI Bank Personal Loan
      "Very Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan from ICICI bank and the loan amount was Rs. 2.50 lakhs because i have a current account with them. I have been paying the EMI amount of Rs. 9200 for the duration of 3 years. They have provided me a interest rate of 14%. The loan process was smooth. I got the loan 1 year before.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 29, 2020
    • Bajaj Finserv Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have taken personal loan directly through Bajaj Finserv.The rate of interest was very high and i have taken this loan for my personal use only .This loan is still active and paying the premium on EMI basis .If pay the premium on delay basis need to pay extra charges.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 28, 2020
    • IDFC FIRST BANK Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken personal loan through IDFC First Bank .This loan was availed only for my personal use.The rate of interest and the processing fee was nominal .The loan process was clearly shared by the agent ,The overall service was pretty comfortable and much satisfied .
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 28, 2020
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