Personal Loan in Mumbai

Personal Loans ranging from Rs.25K to Rs.25L with a tenure starting from 6 months.

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Our Financial Institutions

  • HDFC Bank
  • ICICI Bank
  • Fullerton India
  • Yes Bank
  • Axis Bank
  • IDFC Bank
  • Tata Capital
  • Indiabulls
  • Ujjivan Small Finance Bank

Basic Eligibility Criteria

You're probably eligible for a Loan if you are

  • At Least 23 Years Old

  • Less Than 65 Years Old

  • Salary must be in your account

  • Minimum salary required Rs.15000/Month credit in bank

  • Minimum job experience / stability 6 months

Get the Best Deals on Personal Loans in Mumbai with Aapka Bank


If you need cash on an urgent basis for meeting any needs, the personal loan can be a good option. However, there is a lot that goes behind the process of loans, such as the eligibility criteria, credit score, documentation, and more. When you decide to take the personal loan, it is important to remain well informed about everything so that you can receive the loan on the best terms and conditions. 

If you are looking for personal loans in Mumbai, connect with Aapka Bank. Aapka Bank is a one-stop destination for all your loan related needs. We are India’s leading financial service marketplace. While we don’t offer you the loan; we certainly help you get one! Aapka Bank is one of the best platforms to get an insight into various types of loans and your eligibility criteria for the same. Not just that, you can get information on leading financial institutions, banks, and NBFCs offering a personal loan on the best interest rate. Aapka bank can help you in getting the best deal. You can easily make the comparison and study the terms and conditions before making the final decision. And all these services are offered without charging any penny from you. 

We have established our services intending to make common people self-dependent by offering them assistance for securing a loan when they are in need. We can make the hassle of personal loan apply in Mumbai easier for you. You can get all personal loan related information under one roof. We make sure that you get the best arrangement for a personal loan in India by comparing your points of interest against the qualification criteria of different banks and NBFCs. Our experienced and skills help us empower the loan seeker with the right information so that they can make the best decision. 

Let’s get some insight on personal loan in Mumbai:


One of the best things about a personal loan is that it can be used for any purpose unlike business, education, or home loan, which is allotted for a specific purpose. Whenever in life you face any difficulty, a personal loan can come at your rescue and enable you to recover your life and get on track in a short span of time. In fact, personal loans can be taken for various amounts and have different repayment terms. The time frame depends on the motivation behind the advance as well as on the loan provider. 

  • Personal loans are like an installment loan. You borrow a fixed sum of money and pay it back on a monthly installment basis with interest over the life span of the loan. The tenure ranges from 12 to 84 months. Once the full amount is paid, the account is closed. If you need more money, you can apply for a new loan. 
  • There are two types of personal loans - secured and unsecured. The unsecured personal loans are not backed by collateral. The lender decides if you qualify for the unsecured loan depending on your financial history. If you don’t qualify for an unsecured loan, some lenders offer secured options as well.
  • The secured loans are backed by collateral like FD or savings account. In case you fail to repay the loan, the lender has right on your asset as repayment for the loan. 
  • The banks are one of the first places that occur to mind when thinking of loans. However, they are not the only lenders of personal loans. There are other finance companies, online lenders, NBFCs, etc. that offer personal loan. 
  • When you apply for a loan, the lender will pull your credit as a part of the application process. It will usually lower the credit score by a few points. 
  • When taking a personal loan, you must think about the interest rates and other charges. The interest rates and fees can make a significant difference in how much you are paying over the life of the loan. They widely vary from lender to lender. 
  • Interest rates
The interest rates usually range from 5% to 36% depending on the lender and your credit score. It is observed that the better your credit, the lower your interest rate. Also, for longer loan durations, the rate of interest is usually higher. 
  • Origination fees
Some lenders charge a fee for covering the cost of processing loans. Origination fees can typically range from 1 to 6% of the loan amount.
  • Prepayment penalties
Some lenders charge a fee if you pay off your loan early as early repayment means lenders are missing out on some of the interest which otherwise, they would have earned. 

When you go for a personal loan, you must get clarity on all the costs that are adding up and associated with the loan. This will help in determining the total amount of money you need to pay. 

Eligibility criteria for a personal loan

  • Profession- salaried people working in government, private, or MNC companies and self-employed professionals such as CA, CS, Architect, and Doctors. 
  • Age- The eligibility criteria for age is 21 years to 60 years.
  • Minimum income for loan eligibility- Rs. 25000 per month for salaried and Rs. 5 lac gross annual receipts for professionals.
  • Work experience- 3 years and above
  • Experience in Current company- 1 month to 1 year
  • Minimum CIBIL Score- 650
  • Minimum EMI as a percent of income- 65%

Documents for a personal loan

  •  Passport/ driving license/voters ID/PAN Card.
  • Utility Bill/ Passport as address proof.
  • Bank statement for the past 3 months.
  • Salary slips for last 3 months.
  • 2 passport size photographs.

For self-employed individuals

  • KYC documents
  • Proof of residence 
  • Income proof (audited financials for last two years)
  • Latest 6 months bank statement
  • Office address proof
  • Proof of residence or office ownership 
  • Proof of continuity of business
Next time you or someone you know is in need of a personal loan provider in Mumbai, get in touch with our team. We assure of assistance in fetching loan at the best deal.