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Bajaj Finserv in your city

Also known as New Bombay, Navi Mumbai is the world’s largest planned city. The city has seen a real estate boom and is also home to IT Parks, SEZs, educational institutes, MNCs, and other industries.

Residents looking for additional funding can avail of a personal loan in Navi Mumbai. Get personalised features against easy eligibility criteria by applying online or walking into a branch near you.

Features and benefits of personal loan in Navi Mumbai

  • Collateral-free loan

    Collateral-free loan

    Bajaj Finserv offers a collateral-free loan that you can avail of based on some easy-to-meet eligibility criteria.

  • Account access online

    Account access online

    Get access to your loan account online through the customer portal – Experia. Track your information 24x7.

  • Pre-approved offers

    Pre-approved offers

    Existing customers can opt for a pre-approved personal loan offer to shorten their credit processing time.

  • Transparent policy

    Transparent policy

    We offer transparent terms and conditions. There are also no hidden charges.

  • Immediate approval

    Immediate approval

    Fill up the personal loan online form to receive immediate approval.

  • Money in bank in 24 hours*

    Money in bank in 24 hours*

    Once your loan is approved, the money reaches your account within 24 hours*, the. You can use the fund immediately or later, based on your requirement.

  • Flexible tenor

    Flexible tenor

    Tenors of up to 96 months months help you repay your personal loan effortlessly.

  • Minimal paperwork

    Minimal paperwork

    Once you meet the personal loan eligibility criteria, complete the verification process with only a few documents.

  • Flexi loans

    Flexi loans

    For added ease of repayment, opt for a Flexi personal loan and pay it off at your convenience.

Navi Mumbai has undergone rapid expansion and development in recent years. Reputed MNCs make this city a prominent business hub. Special Economic Zones have been planned to push commercial growth along with employment in Navi Mumbai. The city offers lucrative opportunities for start-ups and new companies to flourish. Besides, there are ample medical facilities and a host of healthcare centres.

To meet the growing financial needs of residents of this booming city, Bajaj Finserv brings attractive personal loans in Navi Mumbai for salaried individuals.

Qualified borrowers can avail credit up to Rs. 40 lakh with no asset as collateral. You need not worry about repayment as tenors of up to 96 months months are available. Download the app or log in to our customer portal – Experia, to access your loan account 24x7.

*Conditions apply

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Eligibility criteria and EMI calculation for personal loan in Navi Mumbai

Make use of a personal loan eligibility calculator to find the maximum loan amount for which you qualify. Use a loan EMI calculator to compute your EMIs and total loan cost instantly.

  • Nationality

    Nationality

    Indian, resident of India

  • Employment

    Employment

    Must be a salaried employee at a reputed MNC or a private/ public limited company

  • Credit score

    Credit score

    Above 685

  • Age

    Age

    Between 21 years to 80 years*. 80 years* or younger, at the end of the loan tenure.

  • Income

    Income

    Refer to our city list for minimum salary requirements

Besides meeting these parameters, it is essential to provide KYC documents, bank account statements, an employee ID card, salary slips, and a passport-sized photograph. Make sure all the documents are valid to avoid complications during loan processing.

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Interest rates on personal loan in Navi Mumbai

Evaluate your monthly outflows towards credit repayment based on personal loan interest rates.

Personal loan interest rates and applicable charges

Type of fee

Applicable charges

Rate of interest

11% to 38% p.a.

Processing fees

Up to 3.93% of the loan amount (inclusive of applicable taxes).
Flexi Fee

Term Loan – Not applicable

Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below)

  • Up to Rs. 1,999/- for loan amount less than Rs. 2,00,000
  • Up to Rs. 3,999/- for loan amount from Rs. 2,00,000 to Rs. 3,99,999
  • Up to Rs. 5,999/- for loan amount from Rs. 4,00,000 to Rs. 5,99,999
  • Up to Rs. 7,999/- for loan amount from Rs. 6,00,000 to Rs. 9,99,999
  • Up to Rs. 8,999/- for loan amount from Rs. 10,00,000 to Rs. 14,99,999
  • Up to Rs. 9,999/- for loan amount from Rs. 15,00,000 to Rs. 19,99,999
  • Up to Rs. 10,999/- for loan amount from Rs. 20,00,000 to Rs. 24,99,999
  • Up to Rs. 11,999/- for loan amount from Rs. 25,00,000 to Rs. 29,99,999
  • Up to Rs. 12,999/- for loan amount of Rs. 30,00,000 and above

*All the Flexi charges above are inclusive of applicable taxes

*Loan amount includes approved loan amount, insurance premium, and VAS charges.

Bounce charges

In case of default of repayment instrument, Rs. 700 - Rs. 1,200 per bounce will be levied.
Pre-payment charges

Full Prepayment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment.
  • Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
  • Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as of the date of full prepayment.

Part-prepayment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal amount of the loan prepaid on the date of such part-prepayment.
  • Not Applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid.

*Foreclosure will be processed post clearance of first EMI

Penal charge

Delay in payment of instalment(s) shall attract a penal charge of up to Rs. 12 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Mandate rejection charges

Rs. 450 per month from the first month of the due date for the mandate rejected by customer’s bank until the registration of new mandate.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges.

Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during the initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure.
Broken period interest / Pre-monthly Instalment interest

"Broken Period Interest/Pre-monthly Instalment interest" shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:

Scenario 1 - Over and above the period of 30 days from the date of disbursement of the Loan:

Method of recovery of Broken Period Interest/Pre-monthly Instalment interest:

  • For Term Loan: Deduct from disbursement or added in first EMI, as applicable.
  • For Flexi Term Loan: Added to first instalment amount
  • For Hybrid Flexi Loan: Added to first instalment amount

Scenario 2: Less than period of 30 days from the date of disbursement of the Loan:

Interest on first instalment will be charged for actual number of days.
Switch fee Up to 1.18% of the loan amount (inclusive of applicable taxes).
Switch fee is applicable only in case of switch of loan. In switch cases, processing fees will not be applicable.

Note: Additional cess if any, will be applicable to all charges according to state law.

*Terms and conditions apply.

For Micro Finance Loans, please note below:
Purchase of any non-credit product by the microfinance borrowers is purely on a voluntary basis. Minimum interest, maximum interest, and average interest are 13%, 38%, and 35.71% per annum respectively. Part pre-payment and Foreclosure charges are NIL.

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