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A guide to applying for a personal loan in Kolkata

Personal Loan in Kolkata

Metropolitan cities are bustling with people hurrying to get into the metro system for work and to make it to work on time. This city has access to a wide range of resources that may be used to satisfy one’s desires. It is a city where everyone comes to earn money from little and large companies. This city is also a renowned tourist destination, so you may spend your weekends there with your family and friends. Furthermore, the city serves as Eastern India’s primary financial center. Kolkata also has the best equipment, infrastructure, and educational chances for a common man to become financially self-sufficient. Many significant governmental and private-sector businesses operate industrial plants in Kolkata.

As a result, banks and financial institutions issue loans to meet all of the people’s wishes and demands. With the support of a Personal Loan Kolkata, you may finally expand your firm. Many banks can assist you with all of your financial needs. Borrowers find it difficult to select the finest bank from a multitude of options. Nowadays, obtaining a personal loan is simple. Hence, this post will provide you with an overview of which banks offer the best personal loan interest rates. It will also explain how it will benefit you in the long term.

 A personal loan Eligibility Requirement

A borrower can apply for a personal loan by going to the official website of any bank of their choice. If you find it impossible to do so, you may always go to a neighboring branch.

A borrower can avail of a personal loan if 

  • Candidates between the ages of minimum 23 and up to 60 years old should be eligible.
  • In Kolkata, a Personal Loan is only available to Indian citizens.
  • Moreover, the borrower must be working for a multinational corporation, public or private.
  • Also to avail of a personal loan easily, require a CIBIL score of 750 and above 

To avail of a personal loan from a bank require documents such as 

  • Passport size photographs 
  • 3-6 months’ bank account statements. Voter’s ID, PAN card, Aadhaar, Driver’s license, and Passport.
  • Salary slips for the previous 2 months

 The Current Market Personal Loan Interest Rate

The bank and personal loan interest rates should be investigated by the borrower. Also, it provides a more accurate representation of the current market pricing. If you have a decent CIBIL score, you can get a personal loan with a cheaper interest rate.


Bank Interest Rate (p.a.) Processing Fee
State Bank of India 9.60% p.a. – 15.65% p.a. 1.50% of the loan amount with a minimum of Rs 1000 + GST and a maximum of Rs 15000 GST.
ICICI Bank 10.5% to 19% per annum Upto 2.50% of loan amount plus GST
HDFC Bank 10.5% p.a. – 21.00% p.a.

Salaried – 10.50% to 21.00%

Up to 2.50% of the loan amount is subject to a Maximum of ₹ 25,000/- for salaried customers.
Yes Bank From 10% to 24% Up to 2.50%
Kotak Mahindra Bank Starting from 10.25% p.a. Up to 2.5% of the loan amount + GST and other applicable statutory levies
IDFC First Bank Salaried: 10.49% to 20%

Self Employed: 19% to 23%

At the time of disbursement, processing fees of up to 3.5 percent will be levied on the loan amount.
Bajaj Finserv 13% onwards  Up to 4% of the loan +applicable tax
Standard Chartered Bank 10.25% – 21.00% Up to 2.25% of the loan amount 
Fullerton India Starting at 11.99% 0% to 6%



A personal Loan is Advantageous

A Personal Loan in Kolkata can be used for medical expenditures, social occasions, foreign vacations, funding for abroad schooling, or short-term company financing. Also, if you need money quickly and don’t want to deal with the headache of borrowing from friends or family, a personal loan is a wonderful option. A Personal Loan is advantageous since it may be repaid in manageable installments over time and can be disbursed with little or no paperwork.


  • Borrowers who take out a low personal loan interest rate can borrow as much money as they need without having to fill out additional paperwork.
  • The bank requires a few papers before loan approval. You have the option of giving the banker soft copies of the necessary documents, which saves them time and effort.
  • Within 24 hours of applying for the loan, you will have money in your bank account.
  • A personal loan from any bank might range from 12 to 72 months in term. Depending on one’s comfort, the loan can be for any period.
  • Personal loans do not require any type of security or collateral.