Personal Loans in Mumbai

Get the lowest Personal loan interest rates starting from 10.25% per annum.

Check Loan Eligibility

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We collaborate with the best and biggest in the banking & financial world to get you relevant products at great rates

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35

Banks/NBFCs

4 Million+

Customers

5 Years

In Operations

Personal Loans in Mumbai

Personal Loans in Mumbai can be secured instantly as the whole process right from applying for the loan to the documentation and disbursing the money takes less time as compared to other loans. All the top banks and financial institutions have partnered with lakh Mumbaikars whenever they need fund assistance. The best part about Personal loans is that you are not required to offer any collateral to avail of this form of a loan.

The most common reasons for applying for a Personal loan in Mumbai
• A Personal loan is obtained for various purposes such as paying off medical bills, home renovation, wedding expenses, personal durable goods, travel expenses, or any other financial emergencies.
• If you want to pay off multiple unpaid loans by opting for debt consolidation or Personal loan balance transfer. It can help you save up some amount as the interest rates are lower than most forms of debt such as credit cards.

Special features:
• Loan Amount Eligibility: Rs 25000- Rs 25 Lakh
• Easy and simple loan application
• Flexible loan Tenure- 1- 5 years
• We offer customized interest rates that would be suitable for every individual customer depending on their profile.
• Interest rate starting @10.75%
• Minimal documentation
• Easy EMIs

Eligibility criteria to apply for a Personal loan in Mumbai
Nationality: Must be the citizen of India
Age – Minimum age is 21 years, and the maximum is 60 years
Credit Score: You should have a good credit score, 700 or above
Monthly Income requirement: Rs 20,000 per month
Work Experience

Salaried
Employed at the current company for at least 6/12 months

Self-Employed
• Business tenure of at least 3 years (continuous)
• ITR of last 3 years

You can also check your loan eligibility by visiting our website. Moreover, we have an efficient personal loan EMI calculator which will help you get an idea of how much loan amount you should borrow. Further, you can also benefit from our free credit report service before applying for a loan which gives an in-depth analysis of your credit history.

The documents required to apply for a Personal loan
• Standard KYC documentation such as Aadhar card, drivers’ license, PAN card, etc.
• At least 2 months of salary slips, for company employed applicant, or 2 months of income proof, for self-employed applicants
• At least 6 months of bank account statements - salary account for salaried individuals, or current account, for self-employed individuals.

How IndiaLends can help in getting a Personal loan in Mumbai
IndiaLends is a one-stop solution for all your financial needs. We try to provide you with the best services that are hassle-free and quick in processing. For personal loans in Mumbai, we provide you with a comparative analysis of what different banks are offering and help you in picking up the best.

The main benefits of availing of our services are:
• Convenience
• 100% transparency
• Real- time customer support
• We get you the lowest interest rate loan offers from multiple Banks and NBFCs
• Compare offers online
• We handle everything for you ranging from documentation to disbursal.

Our experienced financial team takes care of your credit needs and finds a good personal loan offer for you. We evaluate your profile and match them against the eligibility criteria of various financial institutions. After the careful analysis of available offers, we pick the best.
Instead of visiting a bank, natives of Mumbai can take advantage of the online services of FinTech companies like IndiaLends. Our services are completely free, and you can get some of the best personal loan offers in Mumbai.
A quicker way is to click the “Apply now” button on the top right corner and fill in the online application and supply the soft copies of all the documents. Post all verification checks and loan approval, the loan amount will be disbursed to your account.

Personal Loan: An Overview

A Personal loan is a form of credit offered by financial institutions for the borrower’s personal use. It is an unsecured loan and doesn’t require collateral as security or a guarantor to avail the loan.

*The figures provided in the table are indicative subject to change from time.

How It Works

1

Registration

Apply online in less than two minutes

 
2

Quick Verification

We will review your application and give you a decision within minutes

 
3

Loan Disbursal

Receive the loan amount within two days.

Find out your customized interest rate for a Personal Loan in Mumbai
Basic Eligibility Criteria
1

Good Credit
Score

2

Above 21 years of
age

3

Salaried
professional

4

Resident of
India

5

Valid Bank
Account

6

PAN Card and Voter
ID Card/Driving License

7

Bank Statements for
the last three months

8

Salary Slip for last
three months

Rating & Reviews

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Frequently Ask Questions

Q. How much can I borrow and for how long?

A. You can get personal loans starting from Rs. 25,000 up to Rs.25 lakhs for 1 to 5 years.

Q. Can I repay my loan early?

A. Yes, you can pre-pay your loan as and when you want.

Q. How does Indialends assess my credit worthiness and how long does this take?

A. Each consumer wishing to borrow on the Indialends portal will need to go through a rigorous verification and credit assessment process. The assessment is based on information collected from various data sources like the application form, credit bureaus, bank statements, pay slips, verification reports, social media, etc. The above process is automated and happens within seconds. Hence, you can get an approval shortly after you submit your application.

Q. Why was my application rejected?

A. The reason your application was rejected was because your credit profile did not match the criteria stipulated in the Indialends policy at the time. However, Indialends might be able to approve your application at a later date, if by then your credit file has improved or there have been changes in the Indialends credit policy.

Q.What is my repayment schedule?

A. Repayment of the loan will happen monthly on an EMI (equated monthly installment) basis where the amount will be calculated based on amortizing balance. One or two of the installments might be different which will depend on the timing of the loan.

Q. What happens in the case of a missed payment or non-payment by a borrower?

A. If the monthly payment for a borrower is delayed for any reason, a penalty fee and penal interest might be charged to the borrower. The borrower’s credit file will also get impacted which will restrict him / her to get credit in the future. Legal action may also be taken against the borrower.

Q. What information is shared with the lenders browsing through the profiles?

A. Lenders will have the ability to view detailed profiles of the borrowers, information like financial information, employment information, etc. The personal information of the borrower remains protected as per our privacy policy.

Q. How do I alter my loan request?

A. Loan requests can only be cancelled prior to loan disbursal. In case you want to make any changes to your request please reach out to support@indialends.com. The support team will help you in making the modifications.

Q. How can I make monthly payments?

A. You can pay your EMIs using electronic transfer of funds, ECS.

Q. How will you disburse the loan amount?

A. Soon after the loan is approved, the funds will be transferred right into your bank account.