Personal Loan Kolkata - Eligibility, Interest Rates Dec 2023, EMI, Apply

Personal Loan in Kolkata

The city of Joy Kolkata is surrounded by numerous banks and other financial institutions where you can apply for a personal loan and fulfill your monetary needs. Here are some of the top banks offering affordable rates on personal loans exclusively to help the people of Kolkata get best deals.

Top Banks Offering Personal Loan in Kolkata

Bank NameBank NameProcessing Fee
State Bank of India (SBI)11.00% - 14.00%NIL-1% of the Loan Amount + GST
HDFC Bank10.75% - 14.50%NIL-2.50% of the loan amount + GST
ICICI Bank10.75% - 19.00%₹999-2.25% of the loan amount + GST
Axis Bank10.49% - 21.00%1.50%-2.00% of the loan amount + GST
Punjab National Bank11.40% - 16.95%0.35% of the loan amount, subject to a minimum of ₹2,500 and maximum of ₹15,000
Bank of India10.35% - 14.85%2% of the loan amount
Bank of Baroda10.90% - 18.25%2% of the loan amount, subject to a minimum of ₹1,000 and maximum of ₹10,000
Central Bank of India12.30%₹500 + GST
IDBI Bank10.50% - 13.25%As applicable by the bank

Personal Loan Interest Rates in Kolkata

Interest Rates8.80% - 26.00%
Processing Fee1%-3% of the loan amount + GST
Pre-payment Charges3%-5% of the principal outstanding + GST
Repayment Period Upto 5 Years
Lowest EMI INR 2,204 - INR 2,935 (per Lakh)

Personal Loan Eligibility

The basic eligibility criteria for a personal loan is as follows:


Age: 21-60 Years
Income: ₹1,44,000-1,80,000 p.a.
Overall Work Experience: 2-3 Years
Work Stability with Current Employer: 1 Year


Age: 24-65 Years
Income: ₹1,80,000-2,00,000 p.a.
Stability in the same Profession: 3 Years

Personal Loan Calculator

You can calculate the EMI on your personal loan using the –EMI calculator online. The calculations are based on a loan amount of ₹5 Lakh, taken for a tenure of 5 years at an interest rate of 11% per annum.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 5,00,00011%1₹ 44,191₹ 30,290₹ 5,30,290
₹ 5,00,00011%2₹ 23,304₹ 59,294₹ 5,59,294
₹ 5,00,00011%3₹ 16,369₹ 89,297₹ 5,89,297
₹ 5,00,00011%4₹ 12,923₹ 1,20,293₹ 6,20,293
₹ 5,00,00011%5₹ 10,871₹ 1,52,273₹ 6,52,273

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

YearPrincipalInterestBalance Amount
1₹ 79,377₹ 51,077₹ 4,20,622
2₹ 88,562₹ 41,892₹ 3,32,059
3₹ 98,811₹ 31,643₹ 2,33,248
4₹ 1,10,245₹ 20,209₹ 1,23,003
5₹ 1,23,101₹ 7452₹ 0

Documents Checklist

  • Identity Proof- PAN Card/Voter ID/Driving License/Aadhar Card/Passport
  • Address Proof- Utility Bill/Passport/Aadhar card/Voter ID
  • Income Proof- Latest Salary Slip/ ITR/Form 16
  • Bank Statement- Last 3-6 Month Bank Statements

How to Apply for a Personal Loan in Kolkata?

It can be done in a few minutes online. All you need to do is visit the website of the lender you wish to apply at. Mention your personal and professional details in the loan application form and submit the same online. The details so submitted will be checked by the lender. It will give an in-principle approval if you are found to meet the eligibility criteria. Subsequently, an executive will come to your office or residence to collect your documents. The lender will verify again and approve the loan only when the details are authenticated successfully. However, if you are not comfortable applying online, you can visit the nearest branch with your documents and apply there.

About Personal Loan in Kolkata

personal loan is the best option when you have a finance related emergency. Since this loan is generally unsecured, you can get instant approval and funds within 72 hours. The disbursal will happen later and, as and when that takes place, you’ll get both SMS and email intimation. While the SMS will give you a brief of the loan, the email will have extensive details of the same.  The email will show the net loan disbursement post the processing fee, the tenure you are given to pay off the loan, the applicable rate of interest, etc.

People Also Look For

  • Personal Loan Interest Rates December 2023
    HDFC Bank10.75% - 14.50%
    ICICI Bank10.75% - 19.00%
    IndusInd Bank10.25% - 26.00%
    Kotak Bank10.99%
    RBL14.00% - 23.00%
    SMFG India Credit12.00% - 24.00%
    Standard Chartered Bank11.49%
    Tata Capital10.50% - 24.00%