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% - 15.99% Fixed
    Up to 2%
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 14.49% Fixed
    0
    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
    10.99% - 19.8% Fixed
    Up to 2% 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
    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
    13.99% - 16.99% 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
    13% - 21% 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
    10.99% - 17.99% Fixed
    2.25% (min. ₹1499 + 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
    12% - 19% Fixed
    Up to ₹3000 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
    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
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free INSTANT DECISION
    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
     Loading your search... Loading your search...
  • Mumbai Personal Loan Reviews

    • Kotak Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It was a very good service from KOTAK ,interest rate was fine. Compare to other banks fees and charges was nominal with KOTAK MAHINDRA . Even the documentation part was also fine with KOTAK ,never had any issue with KOTAK service till now so overall it was an excellent service .
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 22, 2017
    • Bank Bazaar Personal Loan
      "Good website"
      0.5 4.0/5 "Great!"
      I came to know about bankbazaar through another online portal where they have provided a link of bankbazaar.The service provided by bankbazaar is excellent . At bankbazaar there are many options to compare various banks. We can choose the best offer with the best interest. i am planning to get more products through bankbazaar. The executive who contacted me were really helpful and polite.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 22, 2017
    • Citibank Personal Loan
      "Poor response"
      0.5 3.0/5 "Satisfactory"
      I received a call from the CITIBANK executive when i was in a meeting and asked him for a call back. But he never called me later and i waited for his call. Then i did a follow up call to him regarding the loan and i requested to reduce the rate of interest from 13.99% to 12 but he refused and i closed the application.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 22, 2017
    • Bank Bazaar Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      Bankbazaar.com experience is nice one and am using it from the last two months of time. Response is good one with the Bankbazaar.com and the chat response has to be get improvised. Online portal of the Bankbazaar.com is easy to access.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 22, 2017
    • Kotak Personal Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      I did not get the pretty good experience with the Kotak Mahindra bank for the personal loan, which I have applied. Customer service and other things has to be get improved. I would like to suggest that they have to stick with the words.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 22, 2017
    • Axis Bank Personal Loan
      "It Was Good"
      0.5 4.0/5 "Great!"
      The service and experience i had with AXIS BANK was really good, I had taken this loan 9 months ago . the responsiveness from the bank side is real good i loved the experience . The only thing i did not like was that the EMI amount was quite a very high . it was a nice feeling over all .
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 22, 2017
    • Bank Bazaar Personal Loan
      "It Was Good"
      0.5 4.0/5 "Great!"
      The people of BANK BAZAAR are going a good job . the experience i had with bankbazaar was up to the mark . customer service is also appreciable and even the responsiveness . if maximum loan application is processed from the bank bazaar side and then if the application is passed to institution it would be more convenient .
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "IT WAS OK ."
      0.5 4.0/5 "Great!"
      The experience and the service which I received from the bank was kind of OK . The bank delivered the information and contacted in a better way . My credit score was a showing a down flow of rupees 1860 i didn't pay some EMI after that they said we will recheck and come back to you and after that they never called back and it got cancelled .
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 22, 2017
    • Bank Bazaar Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have taken my credit card with Bank bazaar so I have again approached them for my personal loan . I really had a good support from the customer service side. Their website is different and easy to navigate.I have used the EMI calculator and credit score option also. There's no down time or run time error and the speed of the web portal was good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 21, 2017
    • Bank Bazaar Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      This is my second experience with Bank bazaar. The website was user friendly and easy to navigate. I have tried the EMI calculator and Credit score which was useful. The customer service was satisfactory and the responses was quick. I would like to recommend this site to others.,
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 21, 2017
    • Fullerton Personal Loan
      "Not satisfied"
      0.5 3.0/5 "Satisfactory"
      I have approached FULLERON for my personal loan.My application was rejected due to my low credit score.The rate of interest was 18% which is very high comparing to others banks in the market. However their customer service and responses was good. My overall experience was not satisfactory.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 21, 2017
    • Bank Bazaar Personal Loan
      "Good experience"
      0.5 4.0/5 "Great!"
      My overall experience with Bank bazaar was really good. I have taken my personal loan with STANDARD CHARTER via bank bazaar, The whole process was easy and hassle free. The customer service and responses was good . Their website's EMI calculator and Credit score option was very useful.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 21, 2017
    • Standard Chartered Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan with STANDARD CHARTER bank as they were so prompt on responses and customer service .However their rate of interest was bit high comparing to yes bank but there is no processing fee at all which was satisfactory.They have processed very quickly and with in a day I have received my loan amount.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 21, 2017
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 3.0/5 "Satisfactory"
      My friend has taken loan and credit card through bankbazaar and he only referred Bankbazaar. The rate of interest with the bankbazaar is fluctuating day by day. They provide the best interest rate in the industry and the comparison option with other banks also excellent.When i visited the website i found it very interesting. Bankbazaar provides a good service. That is really a tension free option to take a head start for financial services.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 21, 2017
    • Kotak Personal Loan
      "Rate of interest should be compromised"
      0.5 2.0/5 "Expected more"
      I have applied for a personal loan application with KOTAK MAHINDRA BANK the rate of interest provided from the bank was 11.99% which is nearly 12%. But HDFC offered me 11.25% rate of interest for 3 lakhs rupees and an amount of 4000 plus GST will also be applicable against the loan.4000
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 21, 2017
    • Bank Bazaar Personal Loan
      "Great and Easy process"
      0.5 4.5/5 "Excellent!"
      The application for personal loan was so good. Was able to compare the best interest rate and also the amount that will be saved. Very quick call back and online uploading of documents on site will help in quick processing of the loan process. Thanks
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 21, 2017
    • Bank Bazaar Personal Loan
      "Fastest loan processor"
      0.5 5.0/5 "Blown Away!"
      Appreciate the online system which was hassle free. I have submitted my loan application and am confident that this is one of the fastest processing system and a great customer service too. Bank bazaar has also helps us in the best banks choice with various options
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 21, 2017
    • Bank Bazaar Personal Loan
      "Very good experience"
      0.5 5.0/5 "Blown Away!"
      The reason I give Bankbazaar a five stars because it was just a immediate process and most of all it was paperless. The experience was nice as I got proper follow up calls as well. The website is good and it is a very user friendly one. It is transparent in the details.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 21, 2017
    • HDFC Bank Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      Everything was okay at HDFC Bank. I have taken a personal loan from them. The process was good and they provided a good service and response. The interest rate was also as mentioned earlier and the processing charges is normal. In all I am satisfied as customer.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 21, 2017
    • Bank Bazaar Personal Loan
      "The best to get a loan through"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar has given me great experience and it was very helpful for me to compare the banks and choose the right one. The website is very much helpful and informative. There were follow up calls on a regular basis. In all it is hassle free to get a loan through.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 20, 2017
    Common Loader Icon
    Mumbai Personal Loan is Rated as "Great!" by 6660 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 23 Sep 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
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.