Multiple banks. Different interest rates. Call it a "conflict of interest".
  • loading

    We found 32 Mumbai Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 14.49% Fixed
    0 to ₹1,180
    30L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.49% - 21.00% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 20.70% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12.99% - 12.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 17.99% Fixed
    2.25% (min. ₹1,499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13.49% - 19.99% Fixed
    Up to 2%
    Upto 25L
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.65% - 11.65% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time : Within 30 minutes
    Guarantor Required Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    14% - 33% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time : Within 30 minutes
    Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 15.99% Fixed
    Up to 0.5%
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 17.99% Fixed
    Up to 2.5%
    15L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.75% - 13.75% Fixed
    1% One time fee
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12% - 19% Fixed
    Up to 3% One time fee
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
     Loading your search... Loading your search...
  • Mumbai Personal Loan is Rated as "Great!" by 7149 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Mumbai Personal Loan

    Apply for Personal Loan

    Mumbai a cosmopolitan metropolis, earlier known as Bombay, is the largest city in India and the capital of Maharashtra state. Mumbai was originally a conglomeration of seven islands on the Konkan coastline which over time were joined to form the island city of Bombay.Mumbai is undoubtedly the commercial capital of India and is one of the predominant port cities in the country.

    A personal loan is a kind of unsecured loan which can be used for any purpose that the borrower deems necessary. An unsecured loan is an umbrella term used for loans which do not require collateral. Banks, credit unions, and other financial institutions offer personal loans on an ongoing basis.


    You’re probably eligible for an Mumbai Personal Loan if you are

    01
    02
    03
    04
    Mumbai Personal Loan Minimum Age

    At least 21 years old

    Mumbai Personal Loan Maximum Age

    Less than 65 years old

    Mumbai Personal Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    Mumbai Personal Loan Minimum Income

    Earn more than the minimum
    income required


    Your Mumbai Personal Loan amount eligibility is based on these factors

    01
    02
    03
    Mumbai Personal Loan Minimum Salary

    Minimum income required
    Rs.17,500 per month

    Mumbai Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs. 50K to Rs. 30 lakhs

    Mumbai Personal Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Mumbai Personal Loan amount by these steps

    01
    02
    Mumbai Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    “Mumbai

    Choose longer tenure loan up to 5 years


    Documentation needed to apply for an Mumbai Personal Loan

    • 1. Photo ID and age proof
    • 2. Signed application form with photograph
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:

      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Mumbai Personal Loan Interest RatesUpdated on 25 Nov 2017

    Mumbai Personal Loan Details
    Interest Rate (Monthly reducing balance) 13.49% - 34%
    Processing Fees 0.5-2.5%
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Personal Loans in Mumbai

    A personal loan is the amount borrowed by an individual from a lender to use for personal expenses. The borrowed amount must be repaid in Equated Monthly Installments (EMIs). The lender will charge an interest rate on the amount borrowed. Almost everyone faces financial crisis at one point or another in life. Instead of spending all their savings or borrowing from unreliable lenders, many banks and financial institutions offer personal loans with attractive features.

    Personal Loans offered by various banks in Mumbai

    Mumbai has many banks and lending institutions. Some of the leading banks and financial institutions that offer personal loans in Mumbai are:

    • Kotak Bank
    • Allahabad Bank
    • Bank of Baroda
    • Bank of India
    • Dena Bank
    • Central Bank
    • IDBI Bank
    • Vijaya Bank
    • Standard Chartered Bank
    • Capital First
    • Tata Capital
    • HDBFS
    • Citibank
    • Kotak Mahindra
    • Aditya Birla
    • ICICI Bank
    • Oriental Bank
    • HDFC Bank
    • IndusInd
    • Fullerton
    • Yes Bank

    How do I get a personal loan with the lowest interest rate in Mumbai?

    The interest rate on a personal loan is decided by the lender after considering several factors. The market condition, banking trends, and the interest rates offered by the competitor are some of the deciding factors in fixing personal loan interest rates. However, borrowers can also take a few steps to make sure they get the lowest interest rate. Some of the steps they can take are:

    • Clearing existing debts: You may want to clear off your existing debts before applying for a personal loan. Having less debt improves your creditworthiness and portrays you as a responsible borrower in the lender’s eyes.
    • Clear your credit card bill: A high credit card bill can negatively affect the personal loan process. Consider paying off the outstanding amount on your credit card. If you are unable to pay in full, try to make a partial payment.
    • Get a co-signer: Your monthly income plays a crucial role in deciding the interest rate on your personal loan. Consider adding your spouse or a family member as a co-signer on your personal loan. This will increase the income and your repayment capacity and will, in turn, could get you a low interest rate.

    Personal Loan Interest Rates in Mumbai 2017

    Bank Interest Rate Range Type of interest rate Processing Fee Range Loan Amount Tenure
    Citibank 10.99% to 15.99% Fixed 1% to 25% Up to Rs.30 lakhs Up to 5 years
    Standard Chartered Bank 11.25% to 14.49% Fixed Nil Up to Rs.30 lakhs Up to 5 years
    Capital First 12% to 18% Fixed Up to 15% Up to Rs.15 lakhs Up to 5 years
    Tata Capital 11.99% to 19.50% Fixed Nil Up to Rs.20 lakhs Up to 6 years
    HDBFS 13.99% to 16.99% Fixed 1% to 2% Rs.1 lakh to Rs.5 lakhs Up to 5 years
    ICICI Bank 11.59% to 18.49% Fixed 2.25% (min of Rs.1,149) Up to Rs.20 lakhs Up to 5 years
    Oriental Bank 10.85% to 11.85% Floating 0.5% Rs.50,000 to Rs.10 lakh Up to 5 years
    HDFC Bank 11.49% to 19.8% Fixed Up to 2.5% Up to Rs.25 lakhs Up to 5 years
    IndusInd 11.99% to 19% Fixed Up to Rs.3,000 Up to Rs.25 lakhs Up to 5 years
    Fullerton 17.25% to 37% Fixed 1.5% to 6% Up to Rs.15 lakhs Up to 4 years
    Kotak Mahindra Bank 11.49% to 20.15% Fixed Up to 2% Up to Rs.15 lakhs Up to 5 years
    Aditya Birla 11.5% to 13.25% Fixed Up to 2% Up to Rs.15 lakhs Up to 5 years
    Allahabad Bank 13.10% Fixed Up to 1.22% (Min of Rs.1,228) From Rs.50,000 to Rs.7.5 lakhs Up to 5 years
    Bank of Baroda 11.35% to 14.35% Fixed Rs.1,000 to Rs.10,000 Rs.20,000 to Rs.2 lakhs Up to 4 years
    Bank of India 13% to 14% Fixed Rs.1,000 to Rs.10,000 Rs.10,000 to Rs.5 lakhs Up to 3 years

    Salary requirements to avail Personal Loans in Mumbai

    When you apply for a personal loan in Mumbai, the salary requirements will be different from one bank to another. Generally, the salary criteria are as follows:

    • For salaried individuals - Most of the banks have a minimum salary requirement between Rs.7,500 and Rs.50,000 for salaried individuals.
    • Self-employed individuals - Those having their own business should provide proof of income and most banks have an income requirement of Rs.1 lakh to Rs.2 lakh (profit) annually.

    FAQs for Personal Loans in Mumbai

    1. How much can I borrow when I apply for a personal loan?

      The loan amount will be sanctioned by the bank based on your eligibility. Generally, the loan amount ranges from Rs.50,000 to Rs.15,00,000, depending on your repayment capacity and income.

    2. Can I make a partial payment on my personal loan?

      You will have to check with your lender if they allow part payments. It differs from one bank to another.

    3. Is it mandatory to have a guarantor?

      Most banks do not ask for a guarantor to process a personal loan. If they do, they will let you about it when you are applying for a personal loan.

    4. How will I get the loan amount?

      The disbursed amount will be credited to the bank account mentioned in your personal loan application form.

    5. Can I pre-close my personal loan?

      Most banks allow their personal loan customers to pre-close their loan post 6 months from the date of disbursement. Please check with your lender if you can pre-close your loan.


    How do I get a Personal Loan with the lowest interest rate in Mumbai?

    Interest rate of personal loans is based mainly on the person’s monthly income and it does vary at times depending of the applicant’s place of residence. Most of the mainstream lenders offer loans at a higher rate in metropolitan cities when compared to other places in the country. The unsecured loans given in Mumbai range from Rs.50,000 to Rs.40,00,000 and it subject to certain conditions. Credit score too plays a key role in determining your eligibility criteria when it comes to applying for a personal loan in the nation’s financial capital. Most of the leading banks such as Bank of India, Central Bank of India, SBI, IDBI, etc., have their headquarters in Mumbai. Given below are the interest rates and other minimum requirements to avail personal loans in Mumbai.

    Personal Loan Interest rates in Mumbai 2017

    Name of the Bank Rate of Interest
    HDFC Bank 11.5% to 20%
    ICICI Bank 11.6% to 18%
    Bajaj Finserv 11.5%
    Fullerton India 21% to 32%
    Kotak Mahindra 11.5% to 20%
    Indusind Bank 13% to 17%
    Standard Chartered 12% to 15%

    Salary requirements to avail Personal Loans in Mumbai

    Bank Name Minimum Salary of the Applicant
    HDFC Bank Rs.12,000 per month
    ICICI Bank Rs.25,000 per month
    Bajaj Finserv Rs.40,000 per month
    Fullerton India Rs.25,000 per month
    Kotak Mahindra Rs.25,000 per month
    IndusIand Bank Rs.25,000 per month
    Standard Chartered Rs.25,000 per month

    Apart from the above mentioned conditions, most of the banks sanction loans only if you have resided in the city for a minimum duration of 1 year. Also, make sure that you maintain a decent credit score while applying for personal loans. Though, interest rates may vary for most of the banks, other prerequisites remain same most of the times. 

    Check For Latest: Gold Rate in Mumbai Or Silver Rate in Mumbai

    Mumbai Personal Loan Reviews

    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience with Bajaj Finserv was quite good, the loan amount was for 1.24 lakhs with the rate of interest of 21% which is way high when compared to others in the market. The process was very smooth and the loan was approved very quickly. Customer service was good, they offered me a loan for Rs 2.48 lakhs but it was not required as of now. It was a very good response from them.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 23, 2017
    • Bank Bazaar Personal Loan
      "Good "
      0.5 3.0/5 "Satisfactory"
      Bankbazaar.com is fine one and am using it form the last six months of time. I would like to say that the customer service is good one with them and the website is easy to access. I have not faced any issues with them till now.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 23, 2017
    • ICICI Bank Personal Loan
      "Average"
      0.5 1.0/5 "Really Bad"
      Customer service and other things are quite good one for me with the ICICI bank and the response is fine one. I would like to say that the rate of interest is fine one with the ICICI bank, also I have not faced any hiccups on it.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 23, 2017
    • Bank Bazaar Personal Loan
      "Experience"
      0.5 4.0/5 "Great!"
      Easy to handle, easy to use.. online process is great to make a quick move and easy to connect.... And time saving ....It was a great experience... Customer care service is too caring and smooth to handle and satisfying. It was a great experience that I had with bankbazaar.com.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • Bank Bazaar Personal Loan
      "One stop place"
      0.5 5.0/5 "Blown Away!"
      I have been using Bankbazaar for the past 2 months now and have been using it regularly now. I have downloaded the App and am able to check the Bank balance of all of my accounts. Also I was able to check my credit score pretty easily. Their communication with me has been good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • Tata capital Personal Loan
      "Have to apply again"
      0.5 4.0/5 "Great!"
      I applied for a Personal Loan with Tata Capital and the experience got cut shorted in the middle itself. Their offer of 12.75 Rate of Interest was a decent one. I didn't go through the Loan as uploading a passbook was an impossible task. Maybe with a help I might well apply for a Loan with them again.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • Standard Chartered Bank Personal Loan
      "Needs to improve"
      0.5 1.0/5 "Really Bad"
      I have applied for the personal loan from SCB, my loan application was closed because there was no proper follow up done after the application was submitted. When it comes to customer service, it was not up to the mark, they did not follow up and there was no response from them. The rate of interest is way high when compared to other banks.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 4.5/5 "Excellent!"
      My personal loan experience with HDFC bank was quite good, the loan amount was for Rs 5 lakhs with the rate of interest of 14% which was the best rate in the market. The process was very smooth and easy, the loan amount was approved within the given time. Customer service was good and they followed up on time.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      It was a very good experience with bankbazaar so far, they provide good services when compared to all other banking websites. I came to know about bankbazaar through google and i know from last 1 year. Customer service was good and their response was prompt. The website is easy to use and is user friendly.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • Aditya Birla Finance Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan from Aditya Birla, my loan application was closed because there was no requirement of loan as of now and also i did not have proper documents. Customer service from Aditya Birla was good, they responded on time and regular follow ups were done. The rate of interest is nominal when compared to all other banks.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Nice experience"
      0.5 4.0/5 "Great!"
      My personal loan is from HDFC Bank and the bank was quick in the response as soon as I placed a request. They have offered me a good deal on the loan and the processing charges is also normal. The disbursement happened on time and as per my expectation.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • Bank Bazaar Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The experience is overall good at Bankbazaar and the customer services are nice. They have been perfect to contact me on time and I was given the clear information about the bank details. The process was quick and there are no hassles to navigate in the portal.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • Capital First Personal Loan
      "Unhappy with the services. "
      0.5 2.0/5 "Expected more"
      Capital First has not been up to the mark. I had applied for a personal loan and there was a complete zero response. There was no acknowledgement done and no information given about the interest rate and charges. I would not want to recommend them.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • Bajaj Finserv Personal Loan
      "Its Best"
      0.5 5.0/5 "Blown Away!"
      I have Bajaj EMI card based on that, they have provided personal loan. My principal amount was Rs. 1 lakh for the tenure of three years, interest rate was quite okay. I am fine with the service they helped to get the disbursement amount within five working days.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • HDFC Bank Personal Loan
      "Easy Loan option"
      0.5 5.0/5 "Blown Away!"
      I took the personal loan based on saving account, they offered Rs. 1.5 lakh for the tenure of three years. Interest rate was nominal as per market standard. There was no documentation process, through netbanking I applied and taken instant loan on my account.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • Capital First Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      It was been about one month I have taken the personal loan service from CAPITAL FIRST they offered me a interest rate of 13 % which was fine compare to others in the market the documents have been collected dirtectly from my door step they asked for three cheques of my account during the documentation part also the customer service was prompt with CAPITAL FIRST personal loan service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 20, 2017
    • Citibank Personal Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      It was a good experience with CITI bank for my personal loan service but I am disappointed that there is no proper information was provided during the process but the customer service was prompt and the interest rate they offered me was fine when compared to others it was nice service from CITI bank for my personal loan service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 20, 2017
    • Standard Chartered Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for a personal loan with STANDARD CHARTERED bank. They collected the documents immediately and within 10 business days my personal loan got approved and disbursed my funds after my documents submission. They offered me the loan with 12.99% as rate of interest and there is no processing fees.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 18, 2017
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      Bank bazaar staffs called me on the same day immediately after submitting the loan application through their website. Bank bazaar website good and very useful and user friendly. I got a very quick response from them and they explained everything clearly.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 18, 2017
    • HDFC Bank Personal Loan
      "Need to improve service"
      0.5 3.0/5 "Satisfactory"
      I have applied for a personal loan with HDFC bank. They took a longer time to disburse. I applied in 1st week of September 2017 and the loan got disbursed at 28th September 2017. They offered me the personal loan with the processing fees and insurance Rs. 3600 and around 13% - 14% as rate of interest. I asked them for an email confirmation but till now it is not received.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 18, 2017
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.