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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.
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