Personal Loan in Mumbai

Salaried Self-Employed

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Minimum Loan amount is Rs.15,000 !

Maximum Loan amount is Rs.75 Lakhs !

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Salary should be Minimum Rs.10,000!

Salary should be Maximum Rs.10 Crores !

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Minimum Turnover Should Be Rs. 3 Lakhs!

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Interest rate start 10.75% * Upto 40 Lacs
Loan Duration: 12 – 60 months*

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Minimum Loan amount is Rs.15,000 !

Maximum Loan amount is Rs. 75 Lakhs!

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Enter Your Monthly Salary!

Salary should be Minimum Rs.15,000!

Salary should be Maximum Rs.10 Crore!

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Minimum Turnover Should Be Rs. 3Lakhs!

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Interest rate start 10.75% * Upto 40 Lacs
Loan Duration: 12 – 60 months*

4.5 /5(500 Votes)

Personal Loan in Mumbai

Overview of Personal Loan in Mumbai

Personal Loan in Mumbai provides financial backup against any kind of financial constraint. You can avail Personal Loan in Mumbai at an attractive interest rate with simple paperwork. Easy Personal Loan in Mumbai helps you meet almost all of your financial needs such as- child’s education, medical emergency, purchasing any durable goods, reconstructing home, etc. In order to get instant Personal Loan in Mumbai, you need to have a good credit score and must satisfy the eligibility criteria. So, for urgent Personal Loan in Navi Mumbai, you can opt for Personal Loan in Mumbai without cibil check keeping in mind that you have a decent CIBIL score with good repaying history. Personal Loan in Mumbai does not require any mortgage to secure the loan, so unsecured Personal Loan in Mumbai is offered at a slightly higher interest rate. To avail the best personal loan offers in Mumbai, you should know that, Personal Loan without salary slip in Mumbai, Personal Loan in Mumbai without documents is not possible. You can easily avail quick Personal Loan in Mumbai up to Rs. 25 lakhs and can avail low CIBIL score Personal Loan in Mumbai at a higher interest rate with easy EMI option up to 5 years.

Why you should opt for Personal Loan in Mumbai?

Mumbai, the capital state of ‘Maharashtra’ is the ‘Financial Capital of India’. Mumbai is undoubtedly the center of some of the giant multinational conglomerates, national stock exchange and as we know the Bollywood film industry. The city attracts huge migrants and is one of the most populated cosmopolitan metropolis city in India. The cost of living and expenses are really high so, the financial needs of the people are very high. So, who need urgent Personal Loan in Mumbai can easily go for Online Personal Loan in Mumbai at a highly attractive interest rate. For quick Personal Loan in Mumbai for salaried and self-employed individuals both the options of Personal Loan for self-employed in Mumbai and Personal Loan in Mumbai for salaried are available. To avail Personal Loan for low income in Mumbai, you can opt for Personal Loan Agency in Mumbai, Personal Loan Company in Mumbai and also Personal Loan in Mumbai from private financer.

So, here are some of the crucial points as to why should you choose Personal Loan in Mumbai-

  • Unsecured Personal Loan in Mumbai do not take any collateral so, you can easily get instant Personal Loan in Mumbai.
  • Personal Loans in Mumbai at low-interest rate offers fastest Personal Loan in Mumbai and best Personal Loan in Mumbai who need urgent Personal Loan in Mumbai.
  • There are many Personal Loans Providers in Mumbai which offers Personal Loan for cash salary in Mumbai and small Personal Loan in Mumbai at lower interest rate.
  • Easy Personal Loan in Mumbai for self-employed eases up the loan process and meets the financial needs.
  • Personal Loan in Mumbai from private lenders gives you the details of Personal Loan interest rates in Mumbai of all banks and also Personal Loan Calculator in Mumbai which helps you to evaluate the loan amount you are eligible for.
  • Online Personal Loan in Mumbai facilitates you with easy loan access without standing in the long queue.
  • Any financial needs can be easily satisfied using Personal Loans in Mumbai.
  • Quick Personal Loan in Mumbai gets easily approved and disbursed which fulfills all your monetary needs.
  • In case of low cibil score Personal Loan in Mumbai, you need to pay a higher interest rate. So, always try to pay all your debts which will increase your cibil score.

Eligibility Criteria for Personal Loan in Mumbai

The eligibility criteria for Personal Loan in Mumbai is quite simple and easy. You need to have a good repaying capacity and must maintain a good credit score which reflects your credit history. Moreover, you must keep this in mind that, the younger you apply for Online Personal Loan in Mumbai, the higher is your repaying capacity and lower will be your Personal Loan interest rates in Mumbai.

Though different banks and NBFCs have different eligibility criteria, here are some of the common eligibility criteria for Personal Loan in Mumbai-

Personal Loan in Mumbai Eligibility Criteria

Salaried

Self-Employed

Age

21-60 years

25-65 years

Profession

Working in the private sector, MNCs or government organization

Business Professionals, partnership firms, private or public ltd. companies,etc.

Income

Min- Rs. 20,000

Min Turnover- Rs. 1 crore

CIBIL score

750 or above

750 or above

Work Experience

Minimum 2 years of work experience with at least 1 year in the present company

Stable Business Continuity for a minimum of 3 to 5 years

Loan Amount

Up to Rs. 25 lakhs (varies according to the banks or NBFCs)

Up to Rs. 30 lakhs (differs according to the financial institution)

Documents required for Personal Loan in Mumbai

Here are the common documents which you need to submit when applying for Personal Loans in Mumbai-

  • Duly filled application form.
  • ID proof- PAN card, Driving License, AADHAR card.
  • Passport size photo.
  • Residential proof- Any Utility bills like Electricity bill, Water bill, Driving License, Passport.
  • Salaried Individuals

    • Updated bank Statement of the last 6 months.
    • Salary slip of the last 3 months.
    • Form 16 details.
  • Self-employed

    • Last 3 years ITR copy.
    • Balance Sheet of past 2 years, Copy of Profit & Loss statement of last 2 years
    • Verified copy of Memorandum and Articles of Association/Partnership Deed/Sales Tax Certificate/Trade License

Personal Loan Interest Rates in Mumbai of various Financial Institutions

Following is the Personal Loan in Mumbai interest rates of different financial institutions which offer unsecured Personal Loan in Mumbai-

Banks

Loan Tenure

Interest Rates

Pre-Closure Charges

Processing Fees

YES Bank Personal Loan in Mumbai

1-5 years

12.49%*

Within 12 to 24 months: 4% Within 24 to 36months: 3% Within 36 to 48 months: 2% After 48 months :No charges.

2% or 3% of the principal

Kotak Mahindra Bank Personal Loan in Mumbai

1-5 years

11.50%*

5% of outstanding principal.

Up to 2.5%

ICICI Bank Personal Loan in Mumbai

1-5 years

11.49%*

5% of outstanding principal + GST

Rs. 999*

HDFC Bank Personal Loan in Mumbai

1-5 years

10.99%*

Between 2% to 4% of the outstanding principal.

Up to 2.50%

Bajaj Finserv Personal Loan in Mumbai

1-5 years

14.75%*

NIL

Up to 3%

Capital first Personal Loan in Mumbai

1-5 years

16%*

4% of outstanding

Up to 2.49% of the loan amount

Axis Bank Personal Loan in Mumbai

1-5 years

15.50%*

NIL

Up to 2.00%

IndusInd Bank Personal Loan in Mumbai

1-5 years

12.99%*

4% of outstanding principal

Up to 2.50%

SBI Personal Loan in Mumbai

1-5 years

12.50%*-16.60%*

3% of the prepaid amount (after 1st EMI)

Up to 3% of the loan amount

Aditya Birla Capital Personal Loan in Mumbai

1-5 years

11.75%*

4% of principal outstanding in 1st year, 3% in the 2nd year, and thereafter preclosure permitted after 6 months.

1% of principal.

IDFC First Personal Loan in Mumbai

1-5 years

10.99%*

4% of outstanding

2% – 4%

Indiabulls Venture Capital Personal Loan in Mumbai

1-5 years

11.99%*

5% if less than 6 months.

Up to 5%

Fullerton India Personal Loan in Mumbai

1-5 years

17.25%*

4% of outstanding principal

Up to 2%

TATA Capital Personal Loan in Mumbai

1-6 years

13.99%*

4.5% of the outstanding principal. And NIL for the initial 6 months

Up to 2%

ECL Finance Personal Loan in Mumbai

1-5 years

17.50%*

4% of principal amount outstanding+GST

Up to 2% of the loan amount

*Interest rates change time to time.

FAQ’s

Personal Loans in Mumbai offers repayment tenure up to 5 years.
To offer a hassle free loan experience, many banks and NBFCs offer you to foreclose Personal Loan in Mumbai by charging a certain amount post the 6 months from the loan disbursement date.
Based on your loan eligibility, the financial institution will approve the loan amount. You can avail up to Rs. 25 lakhs but the minimum and maximum limit vary for different banks.
You do not have to pledge any mortgage or collateral forPersonal Loan in Mumbai as it is an unsecured loan.
You need to maintain a minimum of 750 or above credit score to avail Personal Loan in Mumbai at a lower interest rate.
*Interest rate and Loan approval are subjected to band discretion and approval.