Micro loans in Kolkata are tailored to meet the short-term financial needs of small businesses, entrepreneurs, and individuals. These loans offer accessible funding to help manage working capital, inventory purchases, or urgent personal expenses. Check your business loan eligibility to understand which financing option best suits your business needs.
Key benefits include:
- Fast disbursal of funds
- Minimal paperwork and easy approval process
- Flexible repayment tenures up to 36 months
- No collateral required
- Ideal for small business expenses, emergencies, or day-to-day operations
Learn more about the features of a micro loan and how it can support your financial goals.
Documentation and eligibility criteria for micro loan in Kolkata
Applicants seeking a micro loan in Kolkata need to meet basic eligibility conditions and submit necessary documentation.
Eligibility criteria:
- Must be a citizen of India
- Age between 24 to 80 years
- Self-employed or running a business
- Minimum CIBIL score of 685
- Business vintage of at least 3 years
Required documents:
- KYC documents (Aadhaar, Passport, Voter ID, Driving License)
- PAN card
- Business proof (GST registration, trade license, etc.)
- Bank statements for the last 6 months
Interest rates and charges for micro loan in Kolkata
Micro loan interest rates in Kolkata depend on factors such as borrower profile, loan amount, and repayment period.
Typical charges include:
- Interest rates starting from 14% p.a.
- Processing fees of approximately 4.72% of the loan amount
- Prepayment charges up to 4.72% (if applicable)
- Bounce charges of Rs. 1,500 per instance
How to apply for micro loan in Kolkata
Applying for a micro loan in Kolkata is a simple and fast process, particularly through online platforms.
Steps to apply:
- Visit the micro loan page on the Bajaj Finserv website
- Click on ‘Apply Online’ to start the application process
- Enter your basic details and verify with OTP
- Provide your KYC and business-related information
- Upload your bank statements and submit the form
Once submitted, a representative will get in touch to guide you through the next steps. Check your pre-approved business loan offer to get quick access to customised financing options based on your profile.
Why choose Bajaj Finserv for micro loans in Kolkata?
Bajaj Finserv offers a seamless and efficient lending experience for micro loan applicants in Kolkata.
Benefits of choosing Bajaj Finserv:
- Digital application process for quick approvals
- Competitive interest rates with flexible terms
- Customised loan offers based on your profile
- Transparent processing and secure documentation handling
- Timely disbursal directly into your bank account
Difference between micro loan and business loan in Kolkata
When considering financing options in Kolkata, it's essential to understand the difference between micro loans and business loans.
Micro loans are best suited for short-term, low-ticket financial needs. They are typically easier to qualify for, come with quicker processing, and require minimal documentation. These loans help manage urgent or day-to-day business expenses but usually offer smaller loan amounts.
In contrast, business loans are designed for larger capital requirements such as expansion, equipment purchase, or long-term working capital needs. Business loans offer higher amounts (Rs. 2 lakh to Rs. 75 lakh), longer repayment tenures (up to 96 months), and may have more comprehensive eligibility checks. To address more substantial financial needs, consider exploring a business loan in Kolkata.
