Personal Loan In Kolkata

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:

Bank Name	Interest Rates
State Bank of India (SBI)	11.00% – 14.00%
HDFC Bank	10.75% – 14.50%
ICICI Bank	10.75% – 19.00%
Axis Bank	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	12.30%
IDBI Bank	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
• Fullerton
• Kotak Mahindra Bank
• InCred
• 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

Applying Online

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.

Applying Offline

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.

Conclusion

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.