Comparison of Personal Loan Interest Rates of Top Banks/NBFCs in Mumbai
Banks/NBFCs | Interest Rates(p.a.) | |
Axis Bank | 11.25% onwards | Apply Now |
IndusInd Bank | 10.49% onwards | Apply Now |
IDFC First Bank | 10.99% onwards | Apply Now |
HDFC Bank | 10.75% onwards | Apply Now |
ICICI Bank | 10.85% onwards | Apply Now |
Kotak Mahindra Bank | 10.99% onwards | Apply Now |
Tata Capital | 10.99% onwards | Apply Now |
Federal Bank | 12.00% onwards | Apply Now |
DMI Finance | 12.00% - 40.00% | Apply Now |
L&T Finance | 12.00% onwards | Apply Now |
Kreditbee | 16.00% - 29.95% | Apply Now |
MoneyTap | 13.00% onwards | Apply Now |
Piramal Finance | 12.99% onwards | Apply Now |
Aditya Birla | 10.99% onwards | Apply Now |
Moneyview | 15.96% onwards | Apply Now |
Cashe | 27.00% onwards | Apply Now |
Note: Rates as of 14th October 2024
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EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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Personal Loan Features
- No end usage restriction except for speculative purposes
- Interest Rates- 10.49% p.a. onwards
- Loan Amount- Up to Rs 40 lakh
- Repayment Tenure- Up to 5 years
- No collateral security
- Instant loan disbursal
- Pre-approved personal loans
- Processing Fee- Up to 4% of loan amount
Income Requirements for Personal Loan in Mumbai
For Salaried: Minimum monthly income of at least Rs 15,000 per month
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Eligibility for Personal Loan in Mumbai
- Minimum Age: 21 years
- Nationality: Indian
- Having credit score 750 and above can increase the chances of availing personal loan
- Job Profile: Salaried doctors, employees of public and private sector companies, employees of Government sector/Public Sector Undertakings/Central/Local bodies, self-employed professionals and self-employed non-professionals
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Documents Required for Personal Loan in Mumbai
- Application form with photograph
- ID Proof- PAN Card/Aadhaar Card/Voter ID/Passport/Driving License
- Age Proof- Aadhar Card/Birth Certificate/SSC Certificate/Voter ID/PAN Card
- Address Proof- Aadhar Card/Voter ID/Driving License/Passport/copy of ration card /electricity bills/gas connection bills
- Salary slips for last 3 months
- Bank account statement for last 6 months
- Form 16/ITR for past 3 years