Kolkata Personal Loan
Kolkata is well-known for its favourable business environment and plenty of chances it provides to people around the country. One of the primary reasons for this is the city’s convenience and low cost of living. These qualities make it an ideal location for enterprises to establish themselves. The leading financial firm that recognises Kolkata's potential provides personal loans to residents of the city. These loans have numerous advantages, including minimum documentation, short processing periods, and competitive interest rates.
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HDFC Bank Personal Loan in Kolkata starting at.
ICICI Bank Personal Loan in Kolkata starting at.
Axis Bank Personal Loan in Kolkata starting at.
IDFC FIRST Bank Personal Loan in Kolkata starting at.
YES Bank Personal Loan in Kolkata starting at.
Kotak Bank Personal Loan in Kolkata starting at.
RBL Bank Personal Loan in Kolkata starting at.
Federal Bank Personal Loan in Kolkata starting at.
IndusInd Bank Personal Loan in Kolkata starting at.
State Bank of India Personal Loan in Kolkata starting at.
IDBI Bank Personal Loan in Kolkata starting at.
Punjab National Bank Personal Loan in Kolkata starting at.
karnataka bank Personal Loan in Kolkata starting at.
karur Vysya Bank Personal Loan in Kolkata starting at.
HSBC Personal Loan in Kolkata starting at.
Personal Loan Features
Below are some features of personal loans:
- Flexibility is the feature that makes a personal loan different and more efficient than various other financial loans. Unlike any other loans, one can use personal in any necessity.
- Quick Disbursement is another attractive feature that shines in personal loans. Loans like car loans and home loans have the reputation of a prolonged disbursement process. At the same time, personal loans are known for their prompt disbursements.
- Minimal Document Requirement provides an easier and more secure environment for applicants looking for a personal loan. Personal loans don’t require the applicants to submit their documents.
- Impressive Interest Rates reflect the attractive nature of personal loans. Personal loans generally have lower interest rates than many other loans in the financial market.
- Zero Collateral Requirement of personal loans is what makes it the most popular loan form among every class of applicants. One can apply for a personal loan without any collateral.
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Get a Personal Loan In Kolkata with Fast Disbursement
There are a lot of financial firms that provide instant personal loans in Kolkata with quick disbursement. Disbursement of a personal loan in Kolkata requires a quick foundation for loan processing. Kolkata is one of India's most developed cities, reflecting the nation's financial stage. A quickly disbursed personal loan in Kolkata will help you quickly put an end to your urgent financial need.
Personal Loan Interest Rates in Kolkata
Banks and personal loan lenders have different interest rates attached to the loans they are providing. They provide gradually lower interest rates on personal loans than other loan types. Here is a list of banks and personal loan interest rates in Kolkata that they are providing:
State Bank of India (SBI)
11.00% - 14.00%
10.75% - 14.50%
10.75% - 19.00%
10.49% - 21.00%
Punjab National Bank
11.40% - 16.95%
Bank of India
10.35% - 14.85%
Bank of Baroda
10.90% - 18.25%
Central Bank of India
10.50% - 13.25%
As per the list, every bank provides different interest rates on personal loans. This will give you the exact idea about the personal loan in Kolkata. This list will be beneficial in choosing the personal loan type from the bank.
Top Personal Loan Providers in Kolkata
There are various banks and NBFCs in Kolkata that provide personal loans to the residents. Below is the list of some loan Providers in Kolkata:
- Axis Bank
- HDFC Bank
- IndusInd Bank
- ICICI Bank
- Bajaj Finance
- Muthoot Finance
- Kotak Mahindra Bank
- Yes Bank
- IDFC First Bank
Eligibility Criteria for Personal Loans in Kolkata
Any Kolkata resident is eligible for personal loans in Kolkata. The required age for a personal loan in Kolkata is 21 to 80 years. Applicant must be employed with any one organisation. Personal loans won’t be approved with a credit score lower than 685. Some personal organisations provide personal loans to students as well. School students cannot apply for a personal loan as the facility is only available for college students.
Document Required for Personal Loans in Kolkata
Following are the documents that are required to apply for a personal loan in Kolkata:
- KYC Documents: Applicant is required to bring or submit a KYC document like Passport, Aadhar Card, Voter ID, etc.
- A PAN Card is necessary for personal loan application.
- Employment Documents: Employee ID is required if the applicant is working for an organisation. Student ID is required if the applicant is a college student.
- Income Proof Documents: Employees are required to submit their salary slips and bank account statements for the previous three months.
Personal Loan Application Process in Kolkata
Visit the Urban Money website to apply for a personal loan and follow the instructions mentioned below:
- Visit the Urban Money website on a PC or mobile phone.
- Choose the personal loan option between different loan categories.
- Provide the required information about yourself to proceed further.
- Provide all document-related information that the website will ask for according to the instructions.
- After all the online proceedings, a representative will contact you with further instructions and review your application for approval.
An applicant can also contact a personal loan DSA in Kolkata. DSA (Direct Selling Agent) is the representative of the loan-providing financial institution. This process needs an applicant to reach the personal loan lender organisation and meet their agent for further proceedings. This method can be considered as an offline method to apply for a personal loan in Kolkata.
Tips for Getting Approved for a Personal Loan in Kolkata
Applying for a loan can be a challenging process for applicants in Tier 1 cities like Kolkata. Personal loans in Kolkata can take some time to get approved. Every individual wants their personal loan to get approved as quickly as it can. Keeping that in mind, below are some useful tips for getting approval for a personal loan in Kolkata:
- Maintain a healthy credit score to advance your chances for approval of an easy personal loan in Kolkata. Generally, a credit score of 685 to 700 is considered as a good credit score in personal loan applications. However, maintaining a credit score of 750 or above increases the chance of getting personal loan approval.
- Average Monthly Balance plays an important role in the personal loan application. Almost every personal loan NBFC in Kolkata calculates the applicant’s average bank account in a month. Maintaining a good monthly balance average gives NBFCs an idea of the applicant’s great repayment capacity.
- Online Application provides better approval chances for the applicant as it is the quickest and most secure method. Applying online saves a lot of time for the applicant. All the documents that an applicant submits get uploaded directly to the NBFC portal for a quick review. Once the application is approved, disbursement generally takes 2-3 days.
- Get ready with all the documents that are required for a personal loan application. Every best and cheapest personal loan in Kolkata requires the applicant to submit the required documents for review and verification. Keeping all the documents ready saves a lot of time from the applicant’s end.
- Applying with one NBFC at a time will better the chances of quick approval of a personal loan in Kolkata. Personal loan lenders verify the status of all the applications that the applicant has applied for. Applying with multiple lenders gives them an idea of financial urgency, which generally lowers the approval chances of the application.
Most individuals may face the need for a personal loan in Kolkata, a Tier 1 city in India. One can apply for an easy personal loan that Kolkata has to offer. Plenty of NBFCs in Kolkata offer personal loans with exciting features like flexibility, quick disbursement, minimal required documents, etc. Personal loan lenders in Kolkata offer impressive interest rates to applicants. However, not every single person is eligible to apply for a personal loan in Kolkata. However, having the right documents and falling under the eligibility criteria makes one a perfect applicant for a personal loan in Kolkata. Getting personal loan approval can be a challenging process without using the implementation of the right and useful tips for the application process.
How long does it take for a personal loan in Kolkata to get approved?
Once you submit your application with all the required documents, it may take 2-3 business days to get your loan approved, depending on the lender you choose.
Can I get a personal loan with a bad credit score in Kolkata?
To get a personal loan in Kolkata, you will need to maintain a minimum credit score of 685.
Can I prepay or foreclose a personal loan in Kolkata?
Yes, personal providers in Kolkata allow users to prepay or foreclose the loan.
What happens if I default on my personal loan in Kolkata?
Default on personal loan in Kolkata will be per day interest charges and late payment fee alongside repayment of the borrowing amount.
Can I apply for a personal loan from multiple lenders in Kolkata?
Yes, you can apply for a personal loan from multiple lenders in Kolkata.
Can self-employed individuals or freelancers apply for a personal loan in Kolkata?
Depending on their policies, some personal loan lenders may provide personal loans to self-employed individuals and freelancers in Kolkata.
Can I transfer my existing personal loan to another lender in Kolkata?
Yes, you can transfer your existing personal loan to another lender in Kolkata if the lender’s personal loan policy allows it.
What is the process for closing a personal loan in Kolkata?
Personal loans can be closed directly on the lender’s website or the mobile application.