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Personal Loan in Kolkata
The exuberance of the old world charm still exists in Kolkata, one of the top metropolitan cities of India. The confluence of the modern era and the old-world lingers across Kolkata. Its residents, full of gumption and joy, have welcomed the changes with open arms and transformed this city into one of the most influential metros to live in today.
Yet, sometimes residents may face financial hardship. To help tide over any such financial crisis, Finnable has launched easy to avail personal loans in Kolkata. Applicants do not even need to visit any branch or office and can avail a personal loan online.
When an applicant avails an instant personal loan, they do not need to pledge any security against the loan as it is an unsecured loan. From the funds of this loan, they can plan a wedding, go on a vacation with their family, renovate their homes, and pay for any medical expenses.
Borrowers can apply for a loan of up to Rs. 10 lakhs which can be repaid through easy installments over a period of 5 years.
Required Documents For Personal Loan in Kolkata
To avail a personal loan in Kolkata, applicants will need to submit the following documents:
- Identity Proof: PAN card is the proof of identity required while availing an instant personal loan online.
- Proof of citizenship: The applicant has to provide their Aadhar card as proof of citizenship.
- Income proof: The borrower will need to submit their salary slips for 3 months from their current organization as proof of income. This lets the lender determine whether the borrower will be able to repay the instant personal loan on time.
- Proof of income credit: The borrower’s bank statement acts as proof of income credit as well as proof of income while availing a personal loan. The borrower will need to submit their bank statement for 3 months which can be the one received over email or downloaded from the borrower’s net banking portal.
Eligibility Criteria For Personal Loan in Kolkata
The personal loan eligibility of Finnable is as follows:
- Only Indian citizens can avail of a personal loan in Kolkata.
- The applicant has to be between 21-45 years of age.
- At the time of filing the personal loan application, the applicant must be employed in a private company or be working in the government sector.
- The total work experience of the applicant must be more than 6 months, and they should be working in their current company for more than 3 months.
- The income received from the job should be more than Rs. 20,000/- per month for a Tier-I applicant and more than Rs. 15,000/- for a Tier-II applicant.
- This income must be credited into the bank account of the applicant.
FAQs about Personal Loan in Kolkata
Finnable disburses the best personal loans at affordable interest rates in Kolkata. Their interest rate starts at 16% up to 26%.
Availing a personal loan in Kolkata is quick and simple. The applicant does not need to go to any office or branch to apply for the loan. It can be done through Finnable’s personal loan app. The process is as follows:
- Step 1: Get the personal loan app, enter all your personal and professional details.
- Step 2: Choose the type of loan, the principal amount, and the loan duration.
- Step 3: Upload all the documents. Once verified, the personal loan amount gets disbursed into the applicant’s bank account.
The personal loan availed by the applicant is repaid through EMIs. This EMI is deducted from the applicant’s bank account every month on a set date throughout the loan tenure. To know how much the EMI would come up to, the applicant can use the personal loan EMI calculator, which is available on Finnable’s website and personal loan app.
To calculate the EMI, the applicant will need to know the principal loan amount (P), the tenure of the personal loan (N), and the Rate of interest (R). The interest rate will be decided by the lender.
EMI= PxRx[(1+R)^N]/ [(1+R)^N-1]
The personal loan EMI calculator will give you the exact EMI amount to be paid. You can also use the online EMI calculator to find out the interest amount that is to be paid every month
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