Lenders offer personal loans @ 10.49% p.a. onwards for tenures of up to 5 years. Public Sector Banks may offer personal loans at lower interest rates and longer tenures. Some lenders offer pre-approved instant personal loans to their select customers.
Personal Loan Features
- Personal loans in Kolkata are usually offered @ 49% p.a. onwards
- Loan Amount of up to Rs 40 lakh
- Repayment tenure is mostly up to 5 years; up to 7 years by some Banks/NBFCs
- No collateral security
- Few lenders offer instant loan disbursal to its personal loan applicants
- No end usage restriction except for speculation
- Some lenders also provide pre-approved personal loans to their select customers
- Personal loan processing charges are mostly up to 4% of loan amount
Income Requirements for Personal Loan in Kolkata
Minimum Monthly Income for Salaried applicants: Rs 15,000; can be higher for other banks/NBFCs
Eligibility for Personal Loan in Kolkata
- The applicant should be an Indian resident
- Age: Minimum- 21 years; Maximum-60 years at the time of loan maturity
- The applicant should be salaried, employees of public and private sector companies, employees of State/Central/Local Government, self-employed professionals and self-employed non-professionals
- Credit score: Usually 750 and above can enhance the chances of availing personal loan
Documents Required for Personal Loan in Kolkata
- Application form with photographs attached
- ID Proof- PAN Card/Aadhaar Card/Voter ID/Passport/Driving License
- Address Proof- Voter ID/Aadhar Card/copy of ration card/ electricity bills/gas connection bills/Passport/ Driving License
- Age Proof- Aadhar Card/Birth Certificate/SSC Certificate/Voter ID/PAN Card
- Bank account statement for past 6 months
- Salary certificates/salary slips for past 3 months
- Recent Form 16/ITR for past 3 years