Get a Personal Loan in Mumbai for up to Rs. 50 lakhs at interest rate ranging from 9.60% to 15.65% p.a. Repay your loan in EMIs within 1 to 6 years tenure. The processing fee can go up to 3.50% of the loan amount + applicable GST.
Mumbai is India's most populous city and one of the most densely populated cities in the world as well. Within the past two decades, the population of the city has almost doubled. The rate of migration is very high, and so is the demand for new Bank Accounts, Credit Cards, and Personal Loans in Mumbai.
Whether you are a salaried individual or a self-employed business person, you can find a host of Personal Loan offers in Mumbai. If you are a new migrant or have shifted to Mumbai recently, your chances of finding a Personal Loan deal are still pretty high in the city of dreams. A lot of banks and financial institutions facilitate Instant loan approvals for online applications.
|Bank/ NBFC||Loan Amount||Interest Rate (p.a)||Processing charges|
|State Bank of India||Rs. 24k - Rs. 20 lakhs||9.60% - 15.65%||1.50% + GST|
|Axis Bank||Rs. 50k - Rs. 15 lakhs||12% to 21%||1.50% to 2% + GST|
|HDFC Bank||Rs. 50k - Rs. 40 lakhs||10.50 % to 21%||Up to 3.5%|
|ICICI Bank||Rs. 50k - Rs. 25 lakhs||10.50% - 19%||Up to 2.50% + GST|
|IDFC First Bank||Rs. 1 lakh - Rs. 40 lakhs||10.49% onwards||Up to 2.50%|
|IndusInd Bank||Rs. 50k - Rs. 15 lakhs||10.49% - 31.50%||Up to 3%|
|RBL Bank||Rs. 1 lakh - Rs. 20 lakhs||14% onwards||Up to 3.50% + GST|
|Tata Capital||Rs. 75k - 25 lakhs||10.99% onwards||Up to 2.75% + GST|
|Yes Bank||Rs. 1 lakh - Rs. 40 lakhs||10.99% onwards||Up to 2.50% + GST|
Although different banks have different eligibility criteria for approving the Personal Loan application, some of the common guidelines for Personal Loans include:
KYC is 'know your customer' process used by banks to verify their customers' identity, age, contact, and address details.
Documents required for KYC Compliance include:
Duly filled Personal Loan application form along with a passport sized picture is also required.
Ahead of festival season, Kotak Mahindra Bank has announced Rs 999 flat processing fee offer on Personal Loans. Customers can avail of instant approvals on personal loan applications up to Rs. 20 Lakhs at lowest interest rate starting at 10.25% p.a for maximum of 5 years.
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