Personal loan in Kolkata

Rs
Rs
+91
terms of use
Loan Duration: 12 - 60 months*   Interest rate: 10.99% & above*   *T&C Applied
Our Partner Networks
ICICI YES BANK BIRLA INDIA BULL CAPITAL FIRST FULLERTININDIA

Personal Loan in Kolkata

Personal Loan is an unsecured loan i.e, you need not have to keep an asset as a kind of security with the bank. Major banks and non-banking financial institutions in Kolkata offers a personal loan to its customers without asking about the need for it. Personal Loan is availed for a number of reasons. Some of them are-
  • Medical Emergency
  • Educational Purpose
  • Buying an electronic gadget
  • Vacation plan
  • Wedding
  • Paying off other small loans
  • Top-up Loan
  • Buying an asset
and many more.
Quick Disbursal time and minimal documentation make Personal Loan a user-friendly and hassle-free process.

Types of Personal Loan in Kolkata

Personal Loan is the most feasible way to fulfill our needs.The needs are of various kinds. So, the following are some of the personal loan types:-
  • Medical Expense Loan
  • Holiday Loan
  • Home Renovation Loan
  • Wedding Loan
  • Business Loan
  • Consumer Durable Loan
  • Fresh Funding
  • Car Loan
  • Festive Loan

Features of Personal Loan in Kolkata

Personal Loan in Kolkata also called Easy Loan in Kolkata as it offers comparative low-interest rates with fast loan approval process.
So, here are some of the features of Easy Loan in Kolkata:-
  • Attractive interest rates
  • Minimal paperwork
  • Minimum salary requirement
  • The easy Loan approval process
  • Quick Disbursal
  • Transparent in its mechanism
  • No hidden charges

Eligibility Criteria for Personal Loan in Kolkata

  • Age- 21 – 60 years (varies for different banks).
  • Net Take Home Salary- Minimum income must be Rs. 20000 for CAT A Company.
  • Applicant must be the resident of India.
  • Applicant must be a salaried individual.
  • Job Experience- Minimum of 2 years.
  • CIBIL Score- Minimum CIBIL score must be 750.
The other factors are- the repaying capacity, loan amount, loan tenure, interest rates.
A large no.of financial institutions provide cash loan in Kolkata, instant cash loan in Kolkata and also quick personal loan in Kolkata.

Why go for Personal Loan in Kolkata?

Kolkata is the capital city of the State of West Bengal. It is located on the banks of the river Hooghly. Being a major commercial hub, many banking and financial institution have their establishments in Kolkata. Due to high business expansion and IT development in Kolkata, the city has witnessed a huge progress in the last few years. These developments led to the rise in the banking needs of the people. With the advancement in the digital technology, people are enjoying banking products with ease. Today, instead of going to the bank which is extremely time consuming, the residents of Kolkata opt for fin-tech platforms like FreEMI to execute their banking requirements.
FreEMI is an innovative product platform. The unique, affordable & simplified product category makes it a natural digital marketplace to meet all your needs.

Top Financial institutions providing Personal Loan in Kolkata

FreEMI provides an easy loan in Kolkata with the help of their leading Personal Loan providers in Kolkata-
  • ICICI Bank
  • YES Bank
  • HDFC Bank
  • IDFC Bank
  • Aditya Birla Group
  • Indiabulls Group
  • Capital First Bank
  • Fullerton India

Documents Required for Personal Loan in Kolkata

To apply for a Cash loan in Kolkata popularly known as Personal Loan in Kolkata, the following set of documents are mandatory-
  • Duly filled application form.
  • Passport size photograph.
  • ID proof- AADHAR card, PAN card, Driving License.
  • Residential proof- Any latest utility bill like Electricity bill, Gas bill. Passport.
  • Salary slip of last 3 months.
  • Bank Statement of last 6 months.
  • Copy of Form 16 and Income Tax Receipt.

Interest Rates for Personal Loan in Kolkata

Personal Loan offers attractive interest rates which are quite lower than the credit card rates. Following are the interest rates of top 6 Personal Loan providers in Kolkata:-
*Interest rates change time to time.
Banks Amount of Loan Loan Tenure Interest Rates Pre-Closure Charges Processing Fees
ICICI Bank Minimum- Rs. 50000
Maximum-Rs. 40 lakhs
1-5 years 10.99%-18.49% 5% of
outstanding
principal+ GST
0.99% to 2.25%
YES Bank Minimum- Rs. 2 lakhs
Maximum-Rs. 20 lakhs
1-5 years 14% per annum.

Within 12 to 24 months: 4%

Within 24 to
36 months: 3%

Within 36 to 48 months: 2%

After 48 months : No charges.

2% of the
principal
minimum of 999
Aditya Birla Capital Minimum- Rs. 25000
Maximum-Rs. 15 lakhs
1-5 years 11.00%-13.75%

4% of principal outstanding in 1st year,

3% in the 2nd year, and thereafter

preclosure permitted after 6 months.

1% of principal.
Indiabulls Venture Capital Rs. 15 lakhs 1-5 years 11.99% onwards 5% if less than 6
months.
Upto 5%
Capital First Minimum- Rs. 50000
Maximum-Rs.4 lakhs
1-5 years 12%-16% 4% of
outstanding
2% of principal
Fullerton India Minimum- Rs. 65000
Maximum-Rs. 25 lakhs
1-5 years 14.00%-33.00% 4% of outstanding
principal.
Up to 2.00%

Apply for Personal Loan Online in Kolkata

In today's busy life, applicants generally search information online regarding the Personal loan in Kolkata. After evaluating and comparing all the features, they apply online for the loan which is time-saving. If you apply for online Personal Loan in Kolkata, you can easily compare the interest rates of different financial institutions and choose accordingly. Online Personal Loan ensures transparency.

Benefits of Personal Loan in Kolkata

Following are some of the benefits of Personal Loan in Kolkata-
  • No Security required

    A Personal Loan is an unsecured loan. No security or collateral is required.
  • Minimal Documentation

    The paperwork for an easy loan in Kolkata is quite minimal. The documents required are- ID proof, Income proof, and Residential proof.
  • Competitive Interest rates

    Easy Personal Loan in Kolkata enables attractive interest rates.
  • Flexible Loan Tenure

    Opting for a Personal Loan enables flexible loan repayment tenure. Lower loan tenure means higher EMIs and vice-versa. You can select the loan tenure according to your requirements.
  • Easy Disbursal

    The cash loans in Kolkata are easily disbursed and takes a minimum processing time.
  • Easy Repayment

    The repayment option for the Personal Loan in Kolkata is very user-friendly. You can take the option of Equated Monthly Installments (EMIs) to repay the loan.
  • Tax Benefit

    Under the Income Tax Act, if you avail personal loan for home construction or renovation, you can get a tax benefit.
  • Purpose Fulfillment

    Personal Loan is not specific purpose oriented. One can use Personal Loan for a wide range of purposes. The purpose can be- any business expansion, home renovation, any family wedding etc.

Short-Term Loans in Kolkata

In case of an urgent need of liquid funds, you can easily opt for a short-term loan in Kolkata which is as short as 3 months. A huge number of personal loan financing company in Kolkata provides instant cash loan i.e, short-term loan in Kolkata. Short-term loans are repaid within short tenure. A good credit score is the determinant of creditworthiness to apply for the short-term loan in Kolkata. But with a bad credit history, it becomes quite difficult to opt for the short-term loans. So, one needs to examine and opt for the personal loan money lenders in Kolkata who offers short-term loans with bad credit score. However, other criteria will be reviewed by the private loan providers in Kolkata.
  • Eligibility Criteria

    • Must be Indian resident.
    • Age- Minimum 21 years and Maximum 60 years (varies according to different loan providers)
    • Must be a salaried individual
    • Minimum salary requirement is Rs. 20000. (varies accordingly)
    • Minimum 2 years of work experience.
    • Must reside in the current location for at least 1 year.
    If the applicant has a bad credit history, then other parameters will be considered for the short-term loan. An applicant without a credit history can also apply for this loan.

    The Short-Term Loan in Kolkata offers attractive interest rates. The minimum interest rate starts at 10.9% and the maximum interest rates can be up to 36% depending on the profile of the applicant.
  • Documents Required

    • ID proof- AADHAR card, PAN card, Driving License.
    • Residence proof- Latest utility bills like a Gas bill, Electricity bill. Passport.
    • Duly filled application form.
    • Passport size photographs.
    • Last 3 months salary slip.
    • Bank Statements of last 6 months.
    • Copy of FORM 16.

FAQ's

Personal Loan Repayment takes place through Equated Monthly Installment (EMIs) either in the form of Post-Dated Cheques or issuing an ECS mandate in favor of the bank

After paying the EMIs for a specified number of months, the borrower can pay off the loan amount before the loan tenure. However, pre-payment penalty/pre-closure charges are levied.

Processing Fees is considered as an additional charge, which is more or less 1% or 2% of the loan amount.

Part-Prepayment refers to the condition when the borrower wants to prepay only a certain part of the outstanding loan whereas Pre-Closure refers to the condition where the borrower wants to prepay the entire loan amount in one go.

The factors on which interest rates, pre-closure fees, and processing fees depends are-

  • Income of the borrower
  • Loan Tenure
  • Company Profile of the borrower
  • Amount of loan
  • Bank a/c where the salary is credited.