Bajaj Finserv in Mumbai
Mumbai is the most populous city in India and the capital of Maharashtra. It is known as the financial capital of the country and has a diverse economic base.
Opt for a Bajaj Finserv Personal Loan in Mumbai for all your financial needs, and benefit from hassle-free online processing along with a sanction up to Rs. 40 lakh.
Visit us in person or apply online for fast loan approval.
Features and benefits of personal loan in Mumbai
Flexibility in repayment
Pay interest only on the funds used with our Flexi loan facility, and reduce your EMIs by up to 45%.*
Account access online
Our customer portal enables 24x7 access to your loan account and its relevant details.
Repayment over flexible tenors
Choose an appropriate tenor of up to 96 months.
Besides meeting simple eligibility criteria for a personal loan, provide just a few basic documents for verification.
With us, you get an attractive interest rate, transparent terms and conditions, and pay no hidden fees.
Money directly in account
We take only 24 hours* to credit the amount to your account.
Receive approval instantly
Bajaj Finserv offers instant loan approval on online application form submission to help you meet urgent expenses easily.
Mumbai is India’s entertainment and commercial capital, with the headquarters of several financial institutions located here. The local economy is supported by diamond polishing, engineering, textile mills, IT, healthcare, and other industries.
Bajaj Finserv offers multipurpose personal loans in Mumbai at affordable rates. We maintain 100% transparency in our terms and conditions, with no hidden charges involved. With an Onlne Personal Loan, you can get a high sanction after meeting simple eligibility requirements and easily manage your expenses.
Documents required and eligibility for personal loan in Mumbai
Fulfill the eligibility criteria to qualify for a higher loan amount in Mumbai. Check the maximum amount using an eligibility calculator.
Indian, resident of India
Must be a salaried employee at a reputed MNC or a private/ public limited company
Between 21 years to80 years*. 80 years* or younger, at the end of the loan tenure.
Minimum salary requirement is Rs. 35,000 per month. Refer to our eligibility page for other details
Bajaj Finserv ensures easy-to-meet eligibility criteria to make unsecured personal loans more accessible. The documents required are also minimal. Provide all the valid documents to process your application faster.
Interest rate and charges
Check out the fees and charges on a personal loan to understand how much you will need to repay.
Personal loan interest rates and applicable charges
Type of fee
Rate of interest
11% to 38% p.a.
Up to 3.93% of the loan amount (inclusive of applicable taxes).
Term Loan – Not applicable
Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below)
*All the Flexi charges above are inclusive of applicable taxes
*Loan amount includes approved loan amount, insurance premium, and VAS charges.
In case of default of repayment instrument, Rs. 700 - Rs. 1,200 per bounce will be levied.
*Foreclosure will be processed post clearance of first EMI
Delay in payment of monthly instalment shall attract penal interest at the rate of 42% per annum applicable on the monthly instalment outstanding, from the respective due date until the date of receipt of the monthly instalment.
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:
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.
|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.
Application procedure for a personal loan in Mumbai
Here is how you can apply for our personal loan in Mumbai:
- Visit the personal loan page and click on ‘APPLY’
- Enter your mobile number and OTP.
- Fill in the application form with your basic details and click on’ PROCEED’
- Enter the loan amount and tenure you need. Choose from our three unique variants- Term, Flexi Term, and Flexi Hybrid.
- Complete your KYC and submit your application.
Frequently asked questions
Here are the personal loan eligibility criteria you need to meet. You must:
- Be an Indian national residing in India
- Be within 21 years to 80 years* of age. 80 years* or younger, at the end of the loan tenure.
- Be employed at an MNC, private or public limited enterprise
- Have a CIBIL score of above 685
Bajaj Finserv offers personalised deals for existing customers, as well as these features and benefits on personal loans:
- A long tenor of up to 96 months
- A high loan value of up to Rs. 40 lakh
- Hassle-free documentation
- Quick approval
- Easy access to an online account
- Up to 45% lower EMIs, and more
The few documents required are – your employee ID card, salary slips, account statements, KYC documents, and photographs.
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.
The minimum salary required to get our personal loan is Rs. 25,001.
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 fees and charges carefully.