Are you looking for a personal loan in Mumbai?
Everyone in their life have faced sudden financial crisis and cash emergency needs in their odd time. In this type of situations personal loan come handy in time and meet all your financial needs effectively.
Many leading Banks and NBFCs offer personal loan range from Rs. 50,000 to Rs, 50 Lakhs for qualified customers without any securities and assets. Personal loan can be avail on any purpose including paying off medical bills, marriage expenses, travel, emergencies, real estate down payments, home renovation, debt consolidation, credit card pay offs, etc.
Mumbai, earlier known as Bombay and the capital of Maharashtra is the hub of financial, commercial, and entertainment which contributes over 6% of India’s GDP. Many leading financial, nationalized banks, mutual fund house and insurance companies established their headquarters in the city. People from various city in india and all around world migrate to Mumbai every year in search of job and to try their luck in Bollywood (Hindi film industry).
Personal Loan Providers in Mumbai
Personal Loan in Mumbai : Eligibility Criteria
- Employment Type – Salaried/Self-employed professionals/non-professionals.
- Employment Status – Employed/In-business for at least 2 yrs, at least 1 yr with current employer/business.
- Income – Minimum 15k net income per month.
- Loan Amount – 50,00 to 50 Lakhs.
- Age limit – 21 to 60 years.
- Good CIBIL score: 350 to 900.
Personal Loans Interest Rates of Leading Banks and NBFC in Mumbai
|Banks & Financial Institutions||Interest Rates||Processing Fee (Does not include GST)|
|Axis Bank||11.25% - 24.00%||1.5% - 2.0%|
|Bajaj Financial Services||11.99% - 15.50%||2.25% - 3%|
|Bank of Baroda||11.60% - 16.60%||2% (Min Rs. 250)|
|Bank of Maharashtra||15.10% - 15.10%||1.00% (Min. Rs. 1000)|
|Canara Bank||13.65% - 13.65%||1.00% - 2.5%|
|Citi Bank||10.99% - 16.49%||2% - 3%|
|Corporation Bank||12.75% - 13.75%||1.5% (Min Rs. 500)|
|Dena Bank||13.00% - 14.00%||1.00% - 2.5%|
|Federal Bank||13.32% - 15.12%||0.5% - 1%|
|HDFC Bank||10.99% - 20.00%||Rs. 1,000 - Rs. 30,000|
|ICICI Bank||10.99% - 22.00%||Up to 2.25%|
|IDBI Bank||13.20% - 13.75%||1% - 2%|
|IDFC Bank||11.00% - 19.50%||2% - 2.5%|
|IndusInd Bank||11.99% - 23.00%||Up to 2.50%|
|Kotak Bank||11.50% - 24.00%||Up to 2.50%|
|Punjab National Bank||12.25% - 15.25%||1% - 2%|
|RBL Bank||13.99% - 16.00%||Up to 2%|
|Standard Chartered Bank||11.49% - 20.00%||1% - 2%|
|State Bank of India||12.50% - 16.60%||2% - 3%|
|Syndicate Bank||14.20% - 14.20%||0.5% (Min Rs. 500)|
|Tata||11.99% - 18.00%||0.02|
|Union Bank of India||14.40% - 14.40%||0.50% (Min Rs. 500)|
|Vijaya Bank||12.50% - 13.50%||0.25% (Max Rs. 10000)|
|Yes Bank||11.99% - 20.00%||1.5% - 2.0%|
How to Apply for Personal Loan in Mumbai
Nowadays anyone can apply for the personal loan by simply filling a simple application or enquiry form on banks or NBFCs website. Based on eligibility, the applicant will receive an email or phone call from a representative for enquiry and ask for required documents for loan submission. Before applying for a personal loan take a look at the basic eligibility criteria and required documents.
- Age of the applicant
- Company of work
- Work experience
- Identity documentation