Personal Loan in Kolkata – Check Online Eligibility and Interest Rates

Are you thinking of borrowing a personal loan in Kolkata? The City of Joy is one of India’s top metro cities and also a commercial hub. Business expansion and financial reforms have propelled Kolkata’s growth and development. On top of that, the advent of digital technology has it made things that were earlier out of reach fairly accessible. Personal loans in Kolkata are the top example of that. Previously, if you needed to borrow money, you would have to rely on banks exclusively. However, now you have NBFCs, online lenders, lending platforms and even some personal loan apps! Here at Loan Sumo, our goal is to help you find the best personal loans in Kolkata.

When it makes sense to borrow a personal loan in Kolkata

We all wish for a smooth life, but few actually get it. There is bound to be some bumps in the road. Financial problems are fairly common, especially if you have a low or average income. You may be one emergency or unplanned expense away from becoming broke. On the other hand, you may be facing a short-term cash crunch or you may need some additional funds for a particular project. In any scenario, taking out a personal loan in Kolkata is a good idea. A personal loan is often the ideal tool in situations that require a quick injection of funds. Here are some of the common uses of personal loans in Kolkata.

Medical emergency:

Healthcare costs are increasing every day, and if you do not have medical insurance, you may be in big trouble! If you or a loved one falls sick and needs sudden hospitalization, you would need to come up with a significant chunk of money rather quickly.

Debt consolidation:

If you want to consolidate your debts and get rid of the stress and anxiety of servicing multiple loans at the same time, a personal loan will help you do that. Personal loans in Kolkata can very well serve as consolidation loans. You can use the money to pay off your high-interest debts and then focus only on paying off the personal loan.

Home improvement:

Whether you need to repair parts of your home or give it a complete makeover, a personal loan in Kolkata can provide you with the money for it. When you take out a personal loan for such big projects, you do not need to dip into your savings.


Are you postponing your vacation plans just because you do not have the money right now? Let’s face it – vacations can be expensive! However, you do not need to spend your savings for that. Personal loans are appropriate for both short and long trips.

How to get quick personal loan eligibility?

As you can see from the above discussion, personal loans are highly versatile. Since lenders typically do not ask what you will do with the money, you can borrow it for any personal needs. Unlike business loans or auto loans, personal loans do not have a specific purpose. These are unsecured loans that offer you a lump sum amount at once. Unlike secured loans that require collateral, most personal loans have no such requirements. Another great thing about personal loans is that you get flexible repayment terms. The payment is broken down into several monthly instalments, and you need to pay these fixed instalments on time every month.

If you are seriously thinking about getting a personal loan in Kolkata and wondering whether or not you are eligible, there are some easy ways to find that out. Firstly, you need to understand that eligibility requirements will vary from lender to lender. However, pretty much all lenders prefer borrowers with high credit scores. If you do not know your credit score, you may try the free CIBIL score checker. Having a perfect credit report will always give you the upper hand. You will get high loan amounts, great interest rates, and excellent terms. You may also get some personal loans for bad credit. However, with those, you will likely have to pay steep interest rates and charges.

Common eligibility requirements that you will need to fulfil:

  • You should be between the ages of 21-60.
  • Salaried individuals need to have an income of Rs. 15000 per month, whereas self-employed individuals need to meet a minimum turnover amount.
  • You must have minimum 2 years of work experience.
  • You should be staying in Kolkata for at least 1 year.
  • You should be able to provide the necessary documents such as ID proof, address proof, and income proof.

Who can provide you a personal loan in Kolkata?

When looking for personal loans in Kolkata, you are sure to come across many providers. As mentioned above, as one of the top metro cities, Kolkata has all the major banks and NBFCs. Here at Loan Sumo, we cater to borrowers from all over Kolkata. Our aim is to help you select the best lenders and instant loan products. Since we are a lending platform, we do not provide the money. We match you with legitimate and established direct lenders who will provide you the offers. Here are some of the top providers of personal loans in Kolkata.


Loan amount


Interest rate

Processing fee

Yes Bank Rs. 1 lakh – Rs. 25 lakhs 1-5 years 10.75% Up to 2.50% + taxes
RBL Bank Rs. 1 lakh – Rs. 20 lakhs 1-5 years 14.00% – 20.00% Up to 2.0% + taxes
IIFL Rs. 1 lakh – Rs. 20 lakhs 1-5 years 12.00% – 20.00% Up to 2%
Fullerton Rs. 65k – Rs. 20 lakhs 1-5 years 17.25% – 35.00% Up to 3.5%
Capital First Rs. 1 lakh – Rs. 15 lakhs 1-5 years 12.00% – 35.00% Up to 2.0% + taxes
Indusind Bank Rs. 1 lakh – Rs. 20 lakhs 1-5 years 11.49% – 20.00% Up to 2% + taxes
Tata Capital Rs. 75k – Rs. 20 lakhs 1-6 years 11.49%-19.00% Up to 2.0% + taxes
Kotak Bank Rs. 1 lakh – Rs. 30 lakhs 1-4 years 11.00% – 24.00% Up to 2.50% + taxes
Bajaj Finserv Rs. 1 lakh – Rs. 20 lakhs 1-5 years 12.00% – 16.00% Up to 2.0%
ICICI Bank Rs. 50k – Rs. 25 lakhs 1-5 years 10.99% – 17.99% Up to 2.0% + taxes