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

    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

    Account access online

    Our customer portal enables 24x7 access to your loan account and its relevant details.

  • Repayment over flexible tenors

    Repayment over flexible tenors

    Choose an appropriate tenor of up to 96 months.

  • Minimum documents

    Minimum documents

    Besides meeting simple eligibility criteria for a personal loan, provide just a few basic documents for verification.

  • Nominal Rates

    Nominal Rates

    With us, you get an attractive interest rate, transparent terms and conditions, and pay no hidden fees.

  • Money directly in account

    Money directly in account

    We take only 24 hours* to credit the amount to your account.

  • Receive approval instantly

    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.

*Conditions apply

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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.

  • Nationality


    Indian, resident of India

  • Employment


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

  • Credit score

    Credit score

    Above 685

  • Age


    Between 21 years to80 years*. 80 years* or younger, at the end of the loan tenure.

  • Income


    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.

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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

Applicable charges

Rate of interest

11% to 35% 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

Rs. 700 - Rs. 1,200 per bounce.
“Bounce charges” shall mean charges for non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason

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.


  • 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.

Instalment default charge 

Rs. 450/- per month from the first instalment due date for mandates rejected by customers bank until the new mandate is registered.

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.
Cash collection handling charges Rs. 177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs.
Cash deposit charges Customers will incur a cash deposition charge of Rs. 50 (inclusive of applicable taxes) when making cash payments at our branch offices.
PG facility charges Rs. 11 (inclusive of applicable taxes) will be charged for utilizing the payment gateway to make part or full payments towards the loan through digital properties.

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 36.79% 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

What are the loan eligibility criteria for borrowers in Mumbai?

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
Why should I go with Bajaj Finserv for a personal loan?

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
Which documents are necessary?

The few documents required are – your employee ID card, salary slips, account statements, KYC documents, and photographs.

What happens if my CIBIL score is low?

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.

How much minimum salary is required to avail of a personal loan in Mumbai?

The minimum salary required to get our personal loan is Rs. 25,001.

Is it mandatory to have a guarantor for personal loan?

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

Can I make a partial payment on my personal loan?

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.

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