Get the Tata Capital App to apply for Loans & manage your account. Download Now


Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required

Tata Capital > Blog > Personal Use Loan > Things You Should Know to Get a Personal Loan in Kolkata

Personal Use Loan

Things You Should Know to Get a Personal Loan in Kolkata

Things You Should Know to Get a Personal Loan in Kolkata

Often referred to as the "city of joy", Kolkata is one of the top metropolitan cities in the country that blends old-world charm with modernity. The city is famous for its soulful embodiment of culture and rapid commercial growth.

Being a prime cultural and commercial centre, however, Kolkata is also not easy on the pockets. With the rising cost of living in the city, you might need a loan to realise your personal goals.

If you’re already considering opting for one, here are a few things you should know before applying for a personal loan in Kolkata.

Purpose of taking the loan

You can borrow personal finance to fulfil a wide range of financial needs. Hence, the first thing you must consider is the purpose of the loan. Not only will this help you decide the loan amount, but also the tenure and other aspects of the loan.

For instance, if you're taking a personal loan to start a new business venture, you can estimate the costs involved and apply for a loan amount accordingly.

Personal loan eligibility criteria

The eligibility criteria are a set of pre-fixed conditions that you must fulfill to borrow a loan. These conditions can differ and get more specific depending on the lender, but some terms remain the same.

For instance, Tata Capital has the following eligibility terms:

  • Age: You must be between 22 to 58 years old.
  • Work experience: You must have at least one year of work experience
  • Monthly Income: You must be drawing a monthly income of at least Rs. 15,000.
  • Job stability: You must be employed at the same job for the past six months

There might also be some additional conditions depending on whether you are a salaried or a self-employed individual. So, make sure to check the personal loan eligibility criteria set by your chosen lender.

Additional Read: How to Apply for a Personal Loan in 5 Simple Steps?

Credit score

Most lenders consider your CIBIL or credit score as the primary indicator of your repayment capacity and credit history. Hence, it is the most crucial aspect of the borrowing process that affects your application’s approval. What’s more, the credit score also plays a part in determining the personal loan interest rates you'll get on the loan.

That's why having a healthy credit score, ideally above 700, is helpful. So, check your credit score, and if it’s inadequate, you can take measures to improve it before applying for the loan.


Finally, there is no dearth of trusted financial institutions in Kolkata that offer personal finance at competitive personal loan interest rates. It is, therefore, critical to compare different lenders based on parameters like interest rates, additional charges, and eligibility terms before zeroing in on the best option.

Additional Read: Why Have Personal Loan Interest Rates Dropped So Low?

Your turn

If you are looking for personal finance options in Kolkata, your search ends here. Tata Capital offers its lending services across the country, including the beautiful city of Kolkata.

We offer various loan products to suit your unique financial needs without any collateral. Just log on to our website here to know more about our personal finance schemes and additional features now.

Leave a Reply

Your email address will not be published. Required fields are marked *