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Instant Online Personal Loan in Kolkata

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How it Works!

Quikkloan made the effortless process for the customers. Apply Personal Loan Online, Compare the best personal loan offer from the various Banks & NBF, upload the documents online, get disbursal in 24Hrs.

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Group 12261  Eligibility Criteria
Salaried Individuals between 21 to 58 years, Minimum Net Monthly Salary of Rs. 20,000 and Employed for at least 1-2 years

Group 12265  Get ready with Documents
PAN & Aadhaar Card, Latest 3 month Bank statement, Two latest salary slip / latest Form 16, Cancelled Cheque

Group 12264  Get Disbursal in 1 Day*
Personal Loan up to 25 Lakh, Instant approval and Fast Disbursal through Partnered Banks / NBFC, No Collateral and Minimum Documentation

Top Banks

Offering Lowest Personal Loan Interest Rates in Kolkata

 

Lenders

Interest Rates

Loan Amount

Tenure

Processing Fee

Apply Online

SBI

9.60% to 13.60% per annum

Up to 15 Lakh

Up to 5 Years

Nil – 1% of the Loan Amount + GST

Apply Now

ICICI 

11.25% to 22.00% per annum

Up to 20 Lakh

Up to 5 Years

Up to 2.25% of loan amount+GST

Apply Now

HDFC

10.75% to 21.30% per annum

Up to 15 Lakh

Up to 5 Years

Up to 2.50% of the loan amount

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Axis Bank

12%-24% per annum

Up to 15 Lakh

Up to 5 Years

As applicable by the bank

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Kotak Bank

10.99%-24% per annum

Up to Rs.15 Lakh

Up to 5 Years

Upto 2.50% of loan amount + GST

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YES Bank

10.99% per annum

Up to Rs.40 Lakh

Up to 5 Years

Up to 2.50% of the loan amount +GST

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Tata Capital

10.99% per annum

Up to Rs.25 Lakh

Up to 6 Years

Up to 2.50% of the loan amount+GST

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IDFC Bank

As applicable by the bank

Up to Rs.25 Lakh

Up to 5 Years

3.50% of the loan amount

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IndusInd Bank

11.25% per annum

Up to Rs.15 Lakh

Up to 5 Years

Up to 2.50% of the loan amount+GST

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DCB Bank

10.22% per annum (one year MCLR)

Up to Rs.5 Lakh

Up to 5 Years

2% of the loan amount+GST

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Bajaj Finserv

12.99% per annum

Up to Rs.25 Lakh

Up to 5 Years

Up to 4.13% of the loan amount+GST

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Aditya Birla Finance

14%-26% per annum

Up to Rs.50 Lakh

Up to 5 Years

Up to 2% of the loan amount+GST

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IIFL 

16% per annum

Up to Rs.25 Lakh

Up to 5 Years

Up to 2% of the loan amount+GST

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HDB Financials

Up to 36% per annum

Up to Rs.20 Lakh

Up to 5 Years

Up to 2 % of the loan amount

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Fullerton India

12.99%-36% per annum

Up to Rs.25 Lakh

Up to 5 Years

Up to 3% of the loan amount

Apply Now

Personal Loan Eligibility in Kolkata

 

Eligibility Criteria

Salaried

Self-employed

Minimum Age

21

24

Maximum Age

58

65

Minimum Income

Rs.35,000 monthly

Rs.2 lakh(annual)

Credit/Cibil Score

Above 750(out of 900)

Above 750(out of 900)

Minimum Job/Business Stability

1-2 Years

2-3 Years

Minimum Work/Business Experience

1-2 Years

3 Years

Minimum Profit After Tax

NA

Rs.1-2 lakh(annual)

 

Personal Loan in Kolkata at a Glance

 

Interest Rates

Starting at 10.99% per annum

Loan Amount

From Rs 1,00,000-Rs.25,00,000

Tenure

Up to 5 Years

Processing Fee

1.50%-2.50% of the loan amount+GST

Minimum Monthly Income

Rs.35,000

Cibil Score

Above 750 (out of 900)

Prepayment/Foreclosure Charges

2%-6% of the principal outstanding +GST

 

Personal Loan in Kolkata?

A personal loan is a short-term loan which could be used for any legitimate purpose. You won’t be required to pledge any form of collateral or security. It can be used to meet immediate personal expenses with instant approval and disbursal of the loan amount.  A personal loan has several advantages including relatively simple documentation, flexible loan tenures and no restrictions on how you use the money.

 

This loan comes in handy to meet multiple needs such as:  

  • Medical Emergencies
  • Wedding Expenses 
  • Debt Consolidation
  • Home Renovation/Extension
  • Higher Education
  • Travelling Expenses
  • Purchasing High End Consumer Durables Value

How to Apply for Personal Loan in Kolkata?

Apply online for an instant loan in Kolkata and get the required funds easily and quickly. The online process is really simple, fast yet secure hence helps in availing the funds in a hassle-free manner. The process starts once you send a personal loan query to the lender. Soon after receiving the application, the lender sends the related quotes if your eligibility matches with the lender. It is followed by document submission and then instant approval and disbursal of the loan amount. In just a few easy steps, you would be able to get the loan amount to meet your varied needs. 

 

Steps to Apply for Personal Loan in Kolkata

Step 1: Fill Loan Query Form

Step 2: Get the Quotes

Step 3: Submit the Required Documents

Step 4: Get Instant Approval & Disbursal

CIBIL Score Required for Personal Loan in Kolkata

A score of above 750 out of 900 is considered to be good enough in grabbing the best deal. Make sure you maintain a good score so that it would be easy for you to get an instant personal loan in Kolkata. Personal loan being an unsecured credit is considered to be a risky affair in order to give to the borrowers. Until and unless they have a healthy credit score which reflects the creditworthiness of a borrower. Yes, a good score is an indication of a fair repayment history of a borrower thus it would not be a hassle for lenders to trust the borrower related to repayment. In such a scenario, it is assumed that a borrower whose cibil score is high, credit history is clean would repay the instant cash loan in Kolkata without any default. Thus, a loan would instantly be given at a lower interest rate.

Minimum Salary Required to Avail Personal Loan in Kolkata

The minimum salary a borrower needs to have is Rs.35,000. In order to cater your immediate cash loans in Kolkata, it is important that you have a minimum salary required. Yes, before offering the loan, the lenders do check the monthly income of an applicant as it is one of the major eligibility factors. With higher income, it would be easy for you to manage your monthly expenses hence no difficulty in repaying the loan. Lenders usually prefer salaried applicants due to the factor of regular income flow which is generally not the case with self-employed as most of the things depend on the nature of their business. Thus, for personal loan Kolkata salaried, make sure you have the minimum required by the lenders to enjoy a hassle-free loan journey. 

Personal Loan EMI Calculator

Worried about your personal loan EMI? Don’t know the exact amount of monthly installments you need to pay every month to your lender? Well, a personal loan EMI calculator is the answer to all your worries. This smartly designed tool with its simple and fast algorithms allows you to know the exact values of your monthly installment. Yes, this tool starts functioning the moment you enter:

 

  • Loan Amount
  • Tenure
  • Interest Rate

 

Once you enter these credentials into the device, it will fetch the accurate values of your monthly installments, interest outgo and total amount payable respectively. You would be able to know these values in the least time frame hence can take smart, calculative financial decisions for personal loan in Kolkata. The better functioning of the device can easily be understood by an example, showing EMI calculations. 

Suppose, an individual is willing to take a personal loan of Rs.20 lakh at an interest rate of 14% per annum for a tenure of up to 5 Years. Now it would be interesting to see the EMI calculations for the same. See the below table to know about the EMI calculations.

 

Table Showing EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

Loan Amount (in Rs.)

Interest Rate(per annum)

Tenure (in Years)

EMI (in Rs.)

Total Interest Amount(in Rs.)

Total Amount=Principal +Interest (in Rs.)

20,00,000

14%

1

1,79,574

1,54,891

21,54,891

20,00,000

14%

2

96,026

3,04,618

23,04,618

20,00,000

14%

3

68,355

4,60,789

24,60,789

20,00,000

14%

4

54,653

6,23,342

26,23,342

20,00,000

14%

5

46,537

7,92,190

27,92,190

 

Table Showing Principal, Interest and Balance Amount

Year

Principal (in Rs.)

Interest(in Rs.)

Balance Amount(in Rs.)

1

2,97,017

2,61,420

17,02,982

2

3,41,375

2,17,063

13,61,607

3

3,92,356

1,66,081

9,69,250

4

4,50,952

1,07,486

5,18,298

5

5,18,834

40,140

0

Personal Loan Fee & Charges

Prepare to pay the fee and charges while availing an urgent loan in Kolkata. Yes, this unsecured loan does come with certain charges that you need to pay during your journey. Charges like processing fee, prepayment and part payment are a part of the personal loan process. Talking about a processing fee this needs to be given at the time of availing the loan, which is non-refundable. Whereas, prepayment and part payment comes into the picture when an applicant opts for them. If an individual closes his loan before the set tenure, prepayment charges he needs to bear. While on the other hand, part payment is something when an individual pays a certain portion of EMI in advance and pays the remaining outstanding later during the tenure.

 

Feature & Benefit Of Personal Loan

The Best feature and benefit Of a Personal loan 

Lowest Interest Rates: With personal loan interest rates as low as 10.99%, it is no more a hassle to enjoy a pocket-friendly personal loan journey. Want to know how? The lowest personal loan interest rates mean,  reduced loan repayment, which is simply linked to cost-effective EMIs.

Instant Funds: An online personal loan can be availed of instantly to meet your varied financial needs. For an immediate personal loan in Bangalore, you simply need to apply for a personal loan online and get the fastest loan disbursal.

Easy Process: The process of availing of these unsecured loans in Kolkata is really easy. With just a few credentials such as Name, Mobile Number, and Required Loan Amount, a quick verification along with less documentation can be done, ensuring a smooth process. Complete Credit Assessment: Not many digital lending companies go beyond and do a complete credit assessment of a borrower, except Quikkloan. With thorough credit analysis, a loan seeker will be connected with the right lender, as per the eligibility, thus lower the chances of personal loan application rejection.

 

Multi-Purpose Loan: A borrower can avail of an urgent loan in Kolkata for various reasons. Yes, it is a multi-purpose loan thus comes in handy to meet numerous personal needs. Hassle-free Process: The process of availing of a personal loan is really simple and quick. Within a few minutes, you can expect to have instant approval followed by a quick disbursal.

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Documents Required For Personal Loan

Mentioned are the personal loan documents for salaried and self-employed.

 

 

Group 13142 Complete Online Application

Fillup the Online loan Application in just 2 minutes

 

Group 13143Provide Identity Proof

Voter id/ Passport/ Driving License / Aadhaar Card

 

Group 13144 Address Proof

Aadhaar /Passport/ Telephone or Electricity Bill/ Ration Card

 

Group 13145Bank Statement

Latest 3 Months Bank Statement or Passbook

 

Group 13147Income Proof

For Salaried – Latest 3-month Salary Slip

                    For Self Employed –  ITR and Current Bank Statement of 3 months

Frequently Questions

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Can I prepay my personal loan?

You can foreclose the loan amount after paying EMIs for a certain number of months 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. Usually it takes 3-7 working days to disburse the amount in case of an easy personal loan in Kolkata.

What are the additional charges applicable on personal loans?

You may be required to pay processing fees, which is normally 2.50% of the loan amount. Plus prepayment and part payment charges are also involved if you opt for either of the facilities.

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.1,00,000 and it can go up to Rs.25 lakhs.

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