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Personal Loan in Kolkata

It’s often said that Kolkata is the cultural heartbeat of India, a city that has given rise to great minds like Swami Vivekananda, Satyajit Ray, and Shashi Kapoor. From its deep-rooted traditions to its modern spirit, Kolkata remains a city of inspiration and resilience.

When life presents unexpected financial needs—be it a medical emergency, festive celebrations like Durga Puja, or personal milestones—you can rely on IDFC FIRST Bank. We offer instant, paperless personal loans in Kolkata to help you navigate any situation with ease. With flexible repayment options designed to fit your budget, we ensure that your convenience comes first. At IDFC FIRST Bank, your priorities are our priorities.

Features of An Instant Personal Loan in Kolkata

Some features of an easy Personal Loan in Kolkata include:

Competitive interest rates start at 10.99%. Low-interest rates help quickly pay back the loan amount.

Competitive interest rates start at 10.99%. Low-interest rates help quickly pay back the loan amount.

Completely digital, paperless online process.

Completely digital, paperless online process.

Balance transfer of existing Personal Loans and credit cards at affordable rates.

Balance transfer of existing personal loans at affordable rates.

Track your Personal Loan application with the IDFC FIRST Bank app.

Track your Personal Loan application with the IDFC FIRST Bank app.

These features are exclusive to IDFC FIRST Bank. Additionally, you can benefit from unparalleled customer service and seamless digital tools with IDFC FIRST Bank.

Use a Personal Loan in Kolkata to Fulfil Your Needs

Living in Kolkata can sometimes be more expensive than expected. When unexpected expenses arise, many individuals choose a personal loan to manage their financial needs. Here are some common situations where a personal loan in Kolkata can come in handy:

Travel expenses

Embark on your dream adventures with a travel loan designed exclusively for elite travellers.

Weddings

With weddings bringing unexpected costs, an instant wedding loan is a go-to solution for many.

Home renovation

Moving into a new space? A home renovation loan can help meet renovation expenses with ease.

Medical emergencies

A medical loan serves as a financial backup during sudden medical emergencies.

Travel expenses

Embark on your dream adventures with a travel loan designed exclusively for elite travellers.

Weddings

With weddings bringing unexpected costs, an instant wedding loan is a go-to solution for many.

Home renovation

Moving into a new space? A home renovation loan can help meet renovation expenses with ease.

Medical emergencies

A medical loan serves as a financial backup during sudden medical emergencies.

ELIGIBILITY

Who Can Apply?

For Salaried Individuals:

  • Minimum Age: 21 years
  • Maximum Age: at the time of loan maturity - 60 years or retirement, whichever comes first
  • Minimum credit score of 730

For Self-Employed Individuals:

  • The business must have been in existence for a minimum period of 3 years
  • Minimum Age: 21 years
  • Maximum Age: 65 years at the time of loan maturity
  • Minimum credit score of 730

Documentation

The documents needed to apply for a Kolkata loan are:

  • Valid KYC
  • 3 months’ bank statement
  • Net Banking or Debit Card details to set up e-Mandate
  • eSign/eStamp for faster disbursal

Personal Loan in Kolkata

Minimum Salary to Apply for Personal Loan in Kolkata

The minimum salary required to apply for a personal loan in most cities in India is ₹20,000. If you need a small Personal Loan in Kolkata, you must have a minimum salary of ₹20,000.

Interest rate and charges in Kolkata for Personal Loan
 

Types of Fees Applicable Charges
Personal Loan interest rate Starting 10.99%
Processing fees Processing Fees of upto 3.5% will be deducted from the loan amount at the time of disbursal
Late payment fees 2% of the unpaid EMI or ₹300 whichever is higher. The late payment fees might be applicable from the date of default to the date of payment.
Stamp duty As per actuals

How to Apply for a Personal Loan in Kolkata?

You can apply for a personal loan with IDFC FIRST Bank online. Use this guide to do so:

Step 1 : Online application

You can apply for a Personal Loan in Kolkata on our Loans app.

Step 2 : Approval

Your loan request will be assessed and approved if you pass the eligibility check.

Step 3 : Upload documents

Complete the verification process by uploading the documents.

Step 4 : Disbursal

Once your loan application is approved, the Personal Loan amount will be transferred to your account. IDFC FIRST Bank’s digital process ensures you receive the financial aid you need smoothly and seamlessly.

FREQUENTLY ASKED QUESTIONS

How to get a personal loan with a low CIBIL score in Kolkata?

While a higher CIBIL score improves your chances of approval, IDFC FIRST Bank may offers FIRSTmoney smart personal loans to individuals with CIBIL scores over 730. Other factors like your income, job stability, and repayment capacity are also considered while approving personal loans.

Can a person get a personal loan for a low salary in Kolkata?

Yes, IDFC FIRST Bank offers personal loans to individuals with lower salaries starting at ₹20,000 per month, provided they meet other eligibility criteria. Loan approval is based on factors like your monthly income, credit score, and overall financial health.

How long does it take to get a personal loan in Kolkata?

Once your application is approved, you can expect the funds to be disbursed within minutes, ensuring quick access to money for urgent financial needs.

Can I get tax benefits on my Personal Loan?

A Personal Loan cannot be used for tax exemptions as it is not part of your taxable income. Still, there are a few instances where you can receive tax exemptions on your Personal Loan. They include taking loans to purchase or construct a residential property, invest in a business, or purchase assets.

What is the EMI amount I need to pay every month?

The EMI amount you need to pay every month depends on your loan amount and the loan duration. You can use IDFC FIRST Bank’s Personal Loan EMI calculator to help you with it.

Will my CIBIL score be affected by the loan?

Every loan you take has an impact on your CIBIL score. Timely payments can increase your CIBIL score, while irregular payments may negatively affect your score.

When should I take a Personal Loan?

You can take an instant loan to meet your weekly expenses, day credit card debts, renovate your house, and pay for a vacation.

Who can apply for IDFC FIRST Bank Personal Loan?

Salaried and self-employed individuals can apply for a loan with IDFC FIRST Bank.

Why should I take a Personal Loan from IDFC FIRST Bank?

IDFC FIRST Bank Personal Loans can protect your savings in times of need. You can use a Personal Loan and meet your financial obligations. IDFC FIRST Bank Personal Loans also come with affordable interest rates and easy repayment terms.

What is the interest rate for a personal loan in Kolkata?

IDFC FIRST Bank offers low-interest personal loans in Kolkata, with rate starting at 10.99%% per annum, subject to your credit profile and loan tenure.

More FAQs

Get FIRSTmoney Smart Personal Loan of Different Amounts

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Personal Loan Blogs

Credit Score for Personal loan

FEATURED

Personal Loans for a Credit Score of 550

Personal loans are one of the easiest loans to acquire. They are unsecured loans, which means one does not need to offer collateral. They can be used for a multitude of purposes. There is minimal documentation involved and a relatively shorter processing time as well. However, one of the most important considerations when applying for a personal loan is your CIBIL score.

Team FinFIRST14 Sep 2021 • 3 mins read

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