Private Finance in Kolkata

Private Finance Interest Rates in Kolkata from 18% onwards for the month of Oct 2016

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Best Private Finance Providers in Kolkata

Kolkata is a city of small, medium as well as big commerce employing a large workforce which comes from all of India. The constant need to fuel this trade requires enormous capital which is met through the facility of personal loan and business loan. Most banks and financial institutions like NBFCs cater to this need in Kolkata but with their norms are sometimes unable to process more urgent requirements. Private finance by individual private money lenders is another source you can approach for funds if you are in need of funds.

Most individual loans or business loans are unsecured in nature and availed for a short duration through private finance. While bank ask for eligibility criteria including CIBIL score for individuals, private lenders will look at your ability to pay the loan back before taking a decision. If you are an individual then the qualification criteria will include your income, current overheads, job stability, years in craft/trade and other factors like your social standing. For a business, the criteria will be their cash flows, profit ratio, bank statements etc that will be critical to the decision of awarding a loan.

There are a large number of private lenders who provide private finance in the form of hand loan, fast loan, payday loan for a short–term duration. By nature these are quick loans and the approval as well as disbursal of the funds is very fast. You will need to get into a legal agreement after mutual consent on the interest rate of the loan. The tenure of the loan is normally short and you will have to issue PDCs to the lender directly under the current framework of P2P lending. The tenure is also fixed in most cases so you will not have the facility to pre-pay a loan. The loan post disbursal can be used for any purpose like travel, wedding, medical, renovation etc if it is individual finance or business needs like operations, expansion if it is a business loan. You can also avail this route if you are self-employed in trades like construction, plumbing, crafts or other areas.

To apply for a loan or private finance, contact us through our website or on the numbers provided. We will take your request ad match it with the best loan provider be it a bank, NBFC or private lender. You can also check your eligibility, instalment payable and other details through our calculators.

If you need a Private Finance in Kolkata, you must have a good credit history and adequate salary to get your personal loan sanctioned with a Bank or an NBFC in Kolkata. Other factors like years of employment, company you work for etc will determine the most important factors like amount, tenure and rate of interest. Some of the banks in Kolkata give you the flexibility to pre-close the loan without any additional charges. Most banks have a pre-closure charge in the 4%-5% range.

Eligibility Criteria for Private Finance in Kolkata

  • Age of the applicant should be between 21-60 Years
  • Salaried individual with minimum income of Rs 15,000. Salary bracket would again depend on the city you live in and the company you work for. Eg. If you are in a Metro the salary requirement will be higher than non-metro and again if you are working in a top MNC the salary requirement would be lesser than one working with a startup.
  • Should be staying in the city for at least 1 Year
  • Total work experience should be at least 2 Years
  • You would require basic documentation such as your address proof, identity proof, latest bank statements etc
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Documents Required for Kolkata Private Finance

  • Three passport size photographs
  • ID proof – Passport/voter ID/ Aadhar or drivers licence
  • Residence Proof – Passport/ Landline bill/ post paid mobile bill/ rental agreement or Bank Statement
  • Pan Card copy
  • Age Proof – Passport/ drivers licence/school certificate or Pan Card copy
  • Income Proof - Latest 3 months salary slips
  • Banking Statement - 6 months bank statements
  • Job Stability & Continuity – Offer Letter, Relieving Letter and Form 16
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After you get listed on the platform, our private lenders and NBFCs in Kolkata will pledge and lend to you your loan/finance requirement.

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