Apply for Personal Loan in Mumbai

50,000
40,00,000
0
5,00,000
0
3,00,000

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Bank Interest Rate EMI
HDFC Bank 11.49% - 19.50%

(fixed)

2,199 - 2,622

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 Year lock in
  • 4% fee if closed after 1 year. Can be 0% if booked under golden edge program
  • 3% fee if closed after 2 years
  • 2% fee if closed after 3 years
  • 0% thereafter

Part-Payment Option

Not available

ICICI Bank 11.49% - 17.85%

(fixed)

2,199 - 2,531

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 5% fee thereafter. 0% if loan amount >10 lacs

Part-Payment Option

Not available

Axis Bank 13.50% - 24.00%

(fixed)

2,301 - 2,877

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 0% after the 1st EMI

Part-Payment Option

Possible after 1st EMI. Minimum part payment to be 1 EMI's. Part payment allowed 6 times in a year.

Citi Bank 11.99% - 15.75%

(fixed)

2,224 - 2,419

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 0.5%-2% fee thereafter

Part-Payment Option

Possible after 12th EMI. Minimum part payment to be 2 EMI's and max 5 EMI's. Allowed only once a year.

IndusInd Bank 11.99% - 14.75%

(fixed)

2,224 - 2,366

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 5% fee thereafter

Part-Payment Option

Not available

Standard Chartered Bank 11.99% - 14.50%

(fixed)

2,224 - 2,353

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 0% thereafter

Part-Payment Option

Not available

Kotak Mahindra Bank 13.00% - 18.00%

(fixed)

2,275 - 2,539

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 5% fee thereafter

Part-Payment Option

Not available

Bajaj Finance 13.00% - 18.00%

(fixed)

2,275 - 2,539

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 0% after the 1st EMI

Part-Payment Option

Possible after 1st EMI. Minimum part payment to be 3 EMI’s. Part payment allowed 6 times in a year

Capital First 13.00% - 20.00%

(fixed)

2,275 - 2,649

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 5% fee thereafter

Part-Payment Option

Not available

Tata Capital 13.50% - 17.00%

(fixed)

2,301 - 2,485

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 5% fee thereafter

Part-Payment Option

Not available

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Tips

Rate of interest is high?

- Try applying for a higher loan amount as most banks reduce interest rates as loan amount increases.

Not getting the desired loan amount

- Try adding the income of a co-applicant like a working spouse

Not getting the desired loan amount?

- Finance Buddha can try to do a debt consolidation/balance transfer to increase eligibility

Personal Loan in Mumbai

There is no doubt that Mumbai is a financial, entertainment and financial hub of India. Also this is considered as the wealthiest land of the country. Nearly 6% of the country’s GDP is generated from here. Mumbai has a very high lifestyle and a high standard of living, owing to the presence of Bollywood Industry here. This is the very reason by most people prefer to have a personal loan to meet some of their expenses such as house renovation, weddings, medical emergencies and even for a vacation.

Getting a personal loan in Mumbai is hassle-free and quick. There is no limitation for the number of personal loan you can take, if you have enough income to repay the same as well as CIBIL scoring. Also it is advisable to pick personal loan instead of private financiers as the rate of interest and other charges will be incomparably high.

 

How Finance Buddha can help you get a Personal Loan in Mumbai?

In case if you are looking to get personal loan in Mumbai then there are a wide range of options made available from various banks. And Finance Buddha is the best platform where in you can compare the interest rates, processing fee and other charges of different banks and can choose the best option that is available. 

 

Personal Loan Eligibility Criteria in Mumbai

Personal Loan Eligibility Criteria in Mumbai
Bank Name Loan Amount Minimum income per month Repayment Period Age Total years in job/profession Years in current residence
HDFC Bank

Up to Rs .15 Lacs

Net monthly salary of Rs. 30,000/-

1 Year- 5 Years

21-60 years

2 years

6 months

SBI

Up to Rs. 10 Lacs

Net monthly salary of Rs. 30,000/-

1 year – 4 Years

21-60 years

2 years

1 Year

ICICI Bank

Up to Rs.40 lacs

Net monthly salary of Rs. 30,000/-

1 Year- 5 Years

23-60 years

2 Years (In current business for at least 5 years and minimum 3 years for doctors)

1 Year

Bajaj Finserv

Up to Rs. 25 lacs

Net monthly salary of Rs. 40,000/-

1 Year- 5 Years

21-60 years

2 Years

1 Year

Fullerton India

Up to Rs. 30 Lakhs

Net monthly salary of Rs. 30,000/-

1 year – 4 Years

21-60 years

2 Years

1 Year

Kotak Mahindra Bank

Up to Rs. 15 Lakhs

Net monthly salary of Rs. 30,000/-

1 year – 5 Years

21-58 years

2 Years

1 Year

Indusind Bank

Up to Rs. 20 Lakhs

Net monthly salary of Rs. 30,000/-

1 year – 5 Years

23 - 60 years

2 Years

6 Months

Axis Bank

Up to Rs. 15 Lakhs

Net monthly salary of Rs. 30,000/-

1 year – 5 Years

21 - 60 years

2 Years 1 Year
Citibank

Up to Rs. 30 Lakhs

Net monthly salary of Rs. 30,000/-

1 year – 5 Years

21 - 60 years

2 Years 1 Year
Standard Chartered Bank

Up to Rs. 30 Lakhs

Net monthly salary of Rs.50,000

1 year – 5 Years

ETB Customer- 22 to 60 years; NTB Customer- 25 to 60 years

ETB Customer- No minimum 0 years; NTB Customer- 2 years

NIL

 

Personal Loan Documents Required in Mumbai

List of documents for Salaried:

  1. Proof of Identity:- Passport / Driving License / Voters ID / PAN Card (any one)
  2. Proof of Residence: Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (any one)
  3. Latest 3 months Bank Statement (where salary/income is credited)
  4. Salary slips for last 3 months
  5. 2 Passport Size photographs

List of documents for Self-Employed:

  1. KYC Documents : Proof of Identity; Address proof; DOB proof
  2. Proof of Residence: Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (any one)
  3. Income proof (audited financials for the last two years)
  4. Latest 6 months Bank statement
  5. Office address proof
  6. Proof of residence or office ownership
  7. Proof of continuity of business

 

Personal Loan Interest Rates, Fees & Charges in Mumbai

Personal loan interest rates vary from bank to bank. Here is the list of some of the top few banks in Mumbai that are best for availing personal loan.

Bank

Interest Rates

HDFC Bank

11.49 - 19.50%

ICICI Bank

11.49 - 17.99%

Bajaj Finserv

11.49%

Kotak Mahindra

11.50 - 20.00%

IndusInd Bank

12.99 - 17.00%

Standard Chartered

11.99 - 15.00%

 

Apart from interest rates some of the other charges are listed below. These are specific to the Mumbai location applicants.

Bank

Processing Fee

Pre-payment charges

Bajaj Finserv

2 - 2.5%

Nil

ICICI Bank

0.8% - 2.00%

Zero or 5.00%

Axis Bank

2.00%

Nil

Kotak Mahindra Bank

1.5 - 2.00%

5.00%

HDFC Bank

0.8% - 2.00%

4.00%

 

Frequently Asked Questions