Personal Loan in Mumbai

Name: Personal Loan in Mumbai
Brand: Paisabazaar
Rating: 4.2 (2839 reviews)

Wide Choice

Quick Disbursal

SmartMatch

Digital Process

Wide Choice

Quick Disbursal

SmartMatch

Digital Process

Customer Rating

4.2_/5

2839 Reviews

51M+Satisfied Customers

65+Lending Partners

800+Cities across India

Apply Personal Loan Online

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Customer Rating

4.2_/5

2839 Reviews

51M+Satisfied Customers

65+Lending Partners

800+Cities across India

Find Best Personal Loan Offers

Sort by:

HDFC Bank

10 Second Disbursal*100% Digital Process*Quick Disbursal

Max. Loan Amt.Upto ₹25L

Rate of Interest9.99% - 12.5%

Tenure upto1-5 Years

Processing Fee₹ 6,500

Axis Bank

Low Processing fee

Max. Loan Amt.Upto ₹25L

Rate of Interest9.99% - 17.15%

Tenure uptoUpto 6 Years

Processing FeeUpto 2%

Kotak Mahindra Bank

Lowest Income requirement100% Digital Process*

Max. Loan Amt.Upto ₹25L

Rate of Interest9.98% - 17.2%

Tenure upto1-5 Years

Processing Fee1.1% - 1.5%

Quick Links

Personal Loan Interest Rates in Mumbai

What Do You Need to Apply?

Why Use Paisabazaar in Mumbai?

Need Rs 5 Lakh Loan in Mumbai?

Why Choose Paisabazaar?

Compare & Choose the Best Offer

Pre-approved Offers with Instant Disbursals

Know Your Chances of Approval

End-to-End Digital Process

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Personal Loan Amounts and Interest Rates in Mumbai

Most lenders in Mumbai offer personal loan amounts of up to Rs 50 lakh at interest rate of 9.98% p.a. onwards, based on:

Your monthly income: Usually, a minimum Rs 15,000 for salaried and Rs 5 lakh p.a. for self-employed applicants
Credit score: 750+ preferred
Employer type: MNC, private, government
EMI/NMI Ratio: Within 50-55%
Employment/Business Continuity: Usually 1 year of employment stability/3 years of business continuity

What Do You Need to Apply?

Basic Documents for Personal Loans in Mumbai:

PAN and Aadhaar for identity verification
Salary slips (last 3–6 months)
Bank account statements (recent 3–6 months)
Employment proof (offer letter or company ID)

No Paperwork for Pre-Approved Offers:

If you’re an existing customer with a bank/NBFC, you may be eligible for pre-approved personal loans with zero documentation. The lender already have the KYC details such as Aadhaar Card, PAN Card, income details, loan repayment history (in case of borrowers), etc. This eliminates the need for submitting fresh documents by those existing customers.

Why Use Paisabazaar in Mumbai?

Paisabazaar helps you:

Compare 30+ top lenders without applying separately
Get instant pre-approved offers
Apply 100% digitally - no need to visit any branch
Check your credit score for free
Get support for quick loan disbursal

Need Rs 5 Lakh for a Major Expense in Mumbai?

Skip the long queues and multiple applications. With Paisabazaar, you can instantly explore personalized loan offers from 30+ top lenders – including pre-approved ones. Compare interest rates, EMI and repayment tenure, know your credit score side-by-side all from a single platform, without stepping out. Enjoy a 100% digital process designed for speed and convenience.

All you need to:

Download Paisabazaar App or click anywhere on the apply section of the website.
Fill in employment type, annual income details, salary bank account, current residence city etc, to get your best offers on personal loan.
You will also be able to know your chances of approval.

Avail Personal Loan For
All Your Needs

Local Safety Tips for Taking Personal Loans in Mumbai

Download apps only from official app stores.
Avoid sharing Aadhaar, PAN via WhatsApp or unknown links.
No legitimate lender will promise approval without eligibility checks.
Never pay upfront processing fees to unknown entities.
Read the fine print before signing.
Ask for a full loan agreement and review the total cost of borrowing—not just interest rate.
If you suspect fraud, report it to:
- Cyber Crime Cell, Mumbai
- Google Play Store or App Store (for fake apps)
- RBI Sachet Portal (https://sachet.rbi.org.in)

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Explore Our Personal Loan Lenders

Avail Personal Loan For
All Your Needs

FAQs

Most lenders require a minimum monthly income of Rs 15,000. Some NBFCs and fintech lenders offer loans to low-income applicants but at a higher interest rate.

Make sure the lender is RBI-registered before applying for a loan. Use trusted platforms like Paisabazaar to avoid fraud.

It is safe if the app is RBI-registered or partnered with an RBI-licensed NBFC/bank. Avoid unknown or unverified apps that could misuse your data.

Some lenders offer loans to delivery partners, freelancers and gig workers based on alternate income proofs like bank statements or ITR. The loan application approval depends on your repayment capacity, financial stability, credit score, minimum income, etc.

If you've changed jobs within the last 2–3 months, some lenders may consider you a higher risk as employment stability is one of the factors in the loan approval process. You may need to wait until you've completed the minimum job experience criteria set by the lender

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What our customers say

Excellant EMI calculator and expert assistance available

The EMI calculator helped me choose the right repayment plan. Clear guidance at every step made the loan process really easy.

Mohit YadavDec 3, 2025

Fully Digital Process for Real.

Loved the real-time loan status updates.Everything was handled online — didn’t have to visit any branch.

Gautam BakshiDec 3, 2025

Lower Rate than My Own Bank

Got a lower interest rate than my bank was offering.Smooth digital verification and quick disbursal.

Shivani SuryaDec 3, 2025

Pre-approved offers with quick approval

I liked how Paisabazaar showed pre-approved offers without affecting my credit score. Customer support was prompt and helped me close the loan quickly.

Suraj VermaDec 3, 2025

Same day approval. wow.

The loan was approved the same day — super smooth and transparent process.

Shiv KumarDec 3, 2025

Multiple offers in Minutes

Paisabazaar helped me compare multiple loan offers in minutes, and I got the best rate without any paperwork.

Ankita BajajDec 3, 2025

Itna Badhiya Rate and Service Hai!

Apke yaha itna acha interest rate mil gya market mei sabse kum and service toh aur bhi achi h. thank you.

Mohit SinghDec 2, 2025

Best Interest Rate Offer

Got the best interest rate on your website. Best assistance and seamless experience.

Aniket SinghDec 2, 2025

Best Marketplace to Shop for Loans

Your website is the best to apply for a personal loan. Got my loan disbursed within 3 days. So easy and hassle-free.

Nikita SharmaDec 2, 2025

Fast loan approval

I got my loan approved within 24 hours. The process was fast, transparent, and reliable, exactly what I was looking for.

Pragati ShuklaDec 2, 2025

View All Testimonials

Written By

Vandana Punj

Reviewed By

Shamik Ghosh

Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners

*Applicable for selected customers

Personal Loan in Mumbai

Find Best Personal Loan Offers

Quick Links

How Can I Apply for a Personal Loan Online?

Personal Loan Amounts and Interest Rates in Mumbai

What Do You Need to Apply?

Basic Documents for Personal Loans in Mumbai:

No Paperwork for Pre-Approved Offers:

Why Use Paisabazaar in Mumbai?

Need Rs 5 Lakh for a Major Expense in Mumbai?

Local Safety Tips for Taking Personal Loans in Mumbai

How Can I Apply for a Personal Loan Online?

FAQs

Can I get a loan in Mumbai with a Rs 20,000 monthly salary?

Is it safe to take a loan from a digital lender in Mumbai?

How quickly can I get a loan in Mumbai?

I work in the gig economy. Can I get a personal loan in Mumbai?

Will changing jobs recently affect my loan approval?

Personal Loan Articles

What our customers say

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