Personal Loan in Mumbai

Personal Loan in Mumbai

Apply for a Bajaj Finance Personal Loan in Mumbai entirely online — from Rs. 40,000 to Rs. 55 lakh, with disbursal in as little as 24 hours*
Loan Types

Loan Types

FAQs

FAQs

Video

Video

Rs. 40,000 - Rs. 55 lakh

Calculate your EMIs

You may be eligible for a pre-approved offer in Mumbai

Check now

Enter mobile and OTP | Check offer | No branch visit needed

 
 

Key takeaways


A personal loan in Mumbai from Bajaj Finance gives you access to Rs. 40,000 - Rs. 55 lakh with repayment spread across up to 108 months. Funds are disbursed within 24 hours*  of document verification for eligible applicants.


  • Loan amount: Rs. 40,000 - Rs. 55 lakh
  • Tenure: 12 months to 108 months
  • Minimum CIBIL score: 650 or higher
  • Age eligibility: 21 years to 80 years
  • Disbursal: within 24 hours* of document verification
  • Application: 100% online — no branch visit required
  • Loan variants: Term Loan, Flexi Term Loan, Flexi Hybrid Term Loan

Check your pre-approved loan offer with your phone number and OTP — no branch visit required.

Get instant personal loan in Mumbai

Mumbai is a major financial and business hub where people often need funds for planned and unexpected expenses. A personal loan in Mumbai can help manage needs such as medical costs, home improvements, education, travel, or other personal expenses. Bajaj Finance offers personal loans ranging from Rs. 40,000 to Rs. 55 lakh through a 100% online application process, with quick approvals, minimal documentation, and disbursal within 24 hours*, subject to applicable terms and conditions. The loan is unsecured, so no collateral is required. Personal loans Mumbai applicants can check their eligibility digitally without visiting a branch.


✅  Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*.


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Features and benefits of personal loan in Mumbai

  • Pre-approved offers

    You can check if you have a pre-approved offer for a personal loan in Mumbai with just your phone number and OTP – no need to visit the branch.

  • Disbursal in a few hours*

    Get the loan amount in your bank account within 24 hours*, making it easy to manage any urgent expenses.

  • Flexible repayment tenure

    You can take a personal loan ranging from Rs. 40,000 to Rs. 55 lakh - and spread the repayment over long tenure of up to 9 years. 

  • Quick online approval

    Apply online to receive quick approval on your personal loan in Mumbai within a few minutes.

  • No collateral required

    Get the personal loan without any collateral or guarantor – making the process simple and quick. Use the personal loan EMI calculator for to estimate your EMI.

Important: choosing the right tenure

A longer tenure lowers your monthly EMI but raises the total interest paid over the loan period. A shorter tenure increases the EMI but reduces total interest cost. Use the personal loan EMI calculator to compare both before finalising your application.


Applicants with a CIBIL score below 650 do not qualify for this loan. Improving your score before applying may result in a higher loan offer and more favourable terms.

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Eligibility criteria for personal loan in Mumbai

You can easily get the funds you need in Mumbai with the below criteria:


CriterionRequirement
NationalityIndian
Age21 years to 80 years
Employment typeSalaried or self-employed
Employer categoryPublic sector, private company, or MNC
Minimum CIBIL score650 or higher

*You should be 80 years* or younger, at the end of the loan tenure.


What can you use a personal loan for in Mumbai?

Personal loans in Mumbai are commonly used to finance various needs, including travel, weddings, medical emergencies, and home expenses.These loans come with attractive personal loan interest rates in Mumbai, making it easier to manage expenses without straining your savings.


  1. For travel-related expenses, you can explore a personal loan for travel to cover costs like flights and accommodation.
  2. Couples planning their special day can avail a personal loan for wedding to fund ceremonies and celebrations.
  3. Medical emergencies can be handled smoothly with a personal loan for medical emergency, ensuring timely access to healthcare.
  4. For home repairs or renovations, a personal loan for home expenses provides quick financial support.
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Documents required for personal loan in Mumbai


Document CategoryAccepted Options
KYC proofAadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
Identity proofPAN card, Real-time image / photograph
Employment proofEmployee ID card, Letter of Allotment of Accommodation Issued by Employer
Income proofSalary slips — last 3 months, Bank account statements — last 3 months
OthersPension order, Utility bill, Phone bill, Piped gas bill, Property / Municipal tax receipt

Know more about the personal loan documents required during application.


Bajaj Finance ensures easy-to-meet eligibility criteria to make unsecured loans more accessible. The documents required are also minimal. Provide all the valid documents to process your application faster.


Check your eligibility for personal loan using just mobile number and OTP – 100% online process.

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What are the lowest personal loan interest rates in Mumbai?

Personal loan interest rates in Mumbai start from 10% per annum and may go up to 30.5% per annum, depending on factors such as CIBIL Score, income, loan amount, and tenure.


For more details on applicable rates, processing fees, and other charges, refer to the personal loan interest rates.

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How to apply for a personal loan online in Mumbai?

Follow these simple steps to apply for personal loans Mumbai applicants can access online:

  • Step-by-step guide to apply for a personal loan

    1. Check loan eligibility – Visit our personal loan page, enter the loan amount you need, select the repayment period, and click on "CHECK LOAN OFFER" to check your loan eligibility.
    2. Enter personal details – Provide your personal, financial, and employment details to receive a personalised loan offer.
    3. Review your loan offer – Check your offer details and adjust the loan amount or repayment tenure, if required.
    4. Complete KYC verification – Verify your identity and bank details to proceed with your application.
    5. Speak to a loan specialist – Once your application is submitted, an executive will contact you with the next steps.

Our representative will contact you for further steps.


Apply for personal loan in other cities

Personal Loan in BangalorePersonal Loan in ChennaiPersonal Loan in Hyderabad
Personal Loan in DelhiPersonal Loan in AhmedabadPersonal Loan in Coimbatore
Personal Loan in KolkataPersonal Loan in JaipurPersonal Loan in Indore
Personal Loan in DehradunPersonal Loan in VijayawadaPersonal Loan in Bhubaneswar
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Why choose Bajaj Finance for personal loan in Mumbai?

  • Pre-approved offers
    You can check if you have a pre-approved offer for a personal loan in Daman with just your phone number and OTP – no need to visit the branch.
  • Disbursal in 24 hours*
    Get the loan amount in your bank account within 24 hours*, making it easy to manage any urgent expenses.
  • Convenient repayment tenure:
    You can take a personal loan ranging from Rs. 40,000 to Rs. 55 lakh, and spread the repayment over long tenure of up to 108 months. This flexibility helps you in keeping your EMIs within your monthly budget.
  • Online approval
    Apply online and upload the required documents to get approval on your application.
  • No collateral required
    Get the personal loan without any collateral or guarantor – making the process simple and quick. Use the personal loan EMI calculator to estimate your EMI.
  • Online loan management
    Use our customer portal - My Account, and easily manage your loan account online.
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Key offerings: 3 loan types

  • Flexi Hybrid Loan
  • Flexi Dropline Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 36 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of interest per annum

10% to 30.5% p.a.

Processing fees

Up to 4.13% of the loan amount (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes)

Will be deducted upfront from loan amount.

Bounce charges

Rs. 700 to Rs. 1,200/- per bounce

“Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.

Part-prepayment charges

Full Pre-payment:

  • Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment

  • Flexi Term (Dropline) Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

  • Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.

  • Not Applicable for Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum 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.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term (Dropline) Loan:

Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.


Flexi Hybrid Term Loan:

Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure

Credit guarantee scheme feeUp to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount
Credit guarantee scheme renewal feeUp to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year.
*Renewal Fee to be collected only for 3 subsequent financial years.
 
**If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated.

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Frequently asked questions

Overview

Required document

Eligibility

Why should I go with Bajaj Finance for a personal loan in Mumbai?

Bajaj Finance offers personalised deals for existing customers, as well as these features and benefits on personal loans:


  • A long tenure of up to 108 months
  • A high loan value of up to Rs. 55 lakh
  • Hassle-free documentation
  • Quick approval

  • Easy access to an online account


Check your eligibility for personal loan in just 2 clicks and get started on your application.

A low CIBIL score incurs a higher rate of interest on a personal loan in Mumbai. Also, you may have to follow stricter eligibility requirements. Extremely low scores shall lead to your application being rejected. In this case, you can mention additional income sources or increase your credit score before applying for a new loan.

Our personal loan is unsecured, and you do not need to have a guarantor to apply for it.

Yes, you can make part-prepayments towards your personal loan. Please note that there may be charges associated with the part-payment. Please read the personal loan interest rate carefully.

Personal loans from Bajaj Finance in Mumbai are typically processed within 24 hours*, subject to document verification and eligibility. Check your pre-approved offer with just your phone number and OTP.

Bajaj Finance offers quick approval, flexible repayment tenures, competitive interest rates, minimal documentation, and funds disbursed within 24 hours*, making loans hassle-free and convenient.

To apply for a Bajaj Finance Personal Loan, you need a minimum CIBIL score of 650 or higher. Meeting this credit score criterion improves your chances of approval and helps secure better loan terms.

The documentation process is simple, and Bajaj Finance requires only basic paperwork such as:


  • KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
  • PAN card
  • Employee ID card
  • Salary slips of the last 3 months
  • Bank account statements of the previous 3 months
  • Piped gas bill
  • Pension order
  • Letter of Allotment of Accommodation Issued by Employer
  • Property / Municipal tax receipt
  • Utility bill
  • Phone bill
  • Real-time image / photograph


Submitting these documents online can save time and make the process hassle-free.


Personal Loan EMIs are calculated based on the loan amount, interest rate, and repayment tenure using EMI calculators provided by lenders or online financial tools.

You can use the Bajaj Finance app to get funds quickly in Mumbai. Ensure that you are using instant cash loan apps from reputable and reliable lenders.

To be eligible for a Bajaj Finance Personal Loan in Mumbai, you have to meet the below criteria:


CriterionRequirement
NationalityIndian
Age21 years to 80 years
Employment typeSalaried or self-employed
Employer categoryPublic sector, private company, or MNC
Minimum CIBIL score650 or higher

*You should be 80 years or younger, at the end of the loan tenure.

Yes, self-employed individuals can get a personal loan in Mumbai, depending on their income, documents, and other eligibility parameters.

Yes, eligible applicants can apply for a personal loan in Mumbai through a 100% online process using a phone and OTP, without visiting a branch.

The required salary for a personal loan in Mumbai depends on the lender’s eligibility criteria. Income, employment, CIBIL Score, and repayment capacity may also be considered.

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000