Unsecured Loan
You can acquire the necessary funds without putting up any valuables as collateral.
Personal Loan in Mumbai
Loan up to Rs 5 Lakh
Minimum Salary Required Rs 15K
Instant Approval in 10 Minutes
Personal Loan EMI Calculator
Get a Personal Loan in Mumbai Up to 5 Lakh
Mumbai, the financial capital of India, is a bustling metropolis known for its vibrant culture, thriving economy, and diverse population. As a significant hub for business, entertainment, and education, the city's fast-paced lifestyle creates a growing demand for better housing, healthcare, and financial support. To meet these needs, Personal Loans have become a popular choice. Hero FinCorp is a leading Personal Loan provider in Mumbai, offering loans of up to Rs 5 Lakh at attractive rates and flexible tenures with a monthly income of Rs 15,000. You can apply online to get approval in 10 minutes.
Features and Benefits of Personal Loan in Mumbai
When applying for a Personal Loan in Mumbai, check its advantages and features. Here are some features of Hero FinCorp Personal Loans.
Competitive Interest Rates
Hero FinCorp provides a Personal Loan in Mumbai at a competitive interest rate.
Flexible Tenure
Hero FinCorp offers personal loans for a tenure ranging from 12 months to 36 months.
Hassle-free Process
Complete the online application form, upload your e-KYC, and receive instant approval.
Eligibility Criteria for Instant Personal Loan in Mumbai
To apply for a personal loan in mumbai, you must meet the eligibility criteria, including your age, monthly income, work experience, and citizenship. At Hero FinCorp, the personal loan eligibility criteria are simple and easy to fulfil.
| Criteria | Requirement |
|---|---|
| Age | You must be between 21 and 58 years old. |
| Citizenship | You must be an Indian citizen. |
| Work Experience | 6 months for salaried individuals and 2 years for self-employed individuals. |
| Monthly Income | To ensure loan approval, you must maintain a minimum monthly income of Rs 15,000. |
List of Documents Required to Apply for a Personal Loan in Mumbai
Are you looking for an urgent cash loan in Mumbai? The documentation requirements may vary based on whether you are salaried or self-employed. Prepare the personal loan documents according to your profession and submit them along with your application.
Documents Required for Salaried Employee
Proof Of Photo Identity
Driver’s Licence, Passport, PAN Card, Aadhaar Card
Mandatory Documents
Filled Loan Application Form, Passport Size Coloured Photograph
Proof of Income
Six Month Salary Slip & Bank Account Statement, Form 16
Job Continuity Proof
Appointment Letter From the Current Employer
Proof of Residence
Driver’s Licence, Passport, Aadhaar Card, Utility Bill
Proof of Business Existence
Not Applicable
Documents Required for Self-Employed
Proof Of Photo Identity
Driver’s Licence, Passport, PAN Card, Aadhaar Card
Mandatory Documents
Filled Loan Application Form, Passport Size Coloured Photograph
Proof of Income
Last Six Months Bank Statement, ITR for the Last Two Consecutive Years
Job Continuity Proof
Not Applicable
Proof of Residence
Maintenance Bill, Utility Bill, Property Documents, Rent Agreement
Proof of Business Existence
Copy of Tax Registration, Shop Establishment Proof, Company’s Registration Certificate
Interest Rate and Charges for Personal Loan in Mumbai
Unlike private loan providers in mumbai, our personal loan interest rates and other charges are transparent and nominal. Here is detailed information about the costs involved:
| Fees & Charges | Amount Chargeable |
|---|---|
| Interest Rate | Starting from 1.58% per month |
| Loan Processing Charges | Minimum 2.5%+ GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST |
| EMI Bounce Charges | Rs 350/- |
| Interest on Overdue EMIs | 1-2% of the loan/EMI Overdue Amount Per Month |
| Cheque Bounce | Fixed Nominal Penalty |
| Loan Cancellation | 1. Online loan app does not charge any cancellation charges |
| 2. Interest amount paid is non-refundable | |
| 3. Processing charges are also non-refundable |
How To Apply For a Personal Loan in Mumbai?
Need an instant personal loan in mumbai? Here’s how you can get it with Hero FinCorp.
- 1
Visit the Hero FinCorp website or install the personal loan app
- 2
Go to the Personal Loan page and click ‘apply now’
- 3
Enter your mobile number and verify with the OTP received
- 4
Choose the loan amount you need
- 5
Verify your KYC details to check income eligibility
- 6
Click ‘Submit’ to complete your application
What Our Clients Say About Us
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Frequently Asked Questions (FAQs)
We consider the following factors while deciding on the maximum loan amount: Applicant's age and income, Credit history, Employer reputation, Debt-to-income ratio.
You should be at least 21 years old when applying for a Personal Loan in Mumbai with Hero FinCorp.
Applying for our personal loan is very simple. You can apply for it either online through our official website or by visiting our Mumbai branch or outlet in person.
When you apply with us, you enjoy the following perks and features: Instant approval Minimal documentation, Unsecured and multi-purpose loans Flexible repayment terms.
At Hero FinCorp, you can get instant approval if you fulfil all Personal Loan formalities and provide the required documents. You will get a loan offer you must accept for disbursal within 48 hours.
Yes, Personal Loans from Hero FinCorp can be used for various purposes like vacation, education, home renovation, or medical emergency.
At Hero FinCorp, you can get the best offers on Personal Loans online. We provide ample loan amounts, attractive rates and repayment tenures.
At Hero FinCorp, the Personal Loan interest rate starts from 1.58% a month or 19% annually.
Yes, you can probably get a Personal Loan in Mumbai even with a bad or low credit score but the lender may not give you a larger loan amount or best rates.
To be eligible for a Personal Loan from Hero FinCorp, you must be between 21 and 58 years of age, have a monthly income of Rs 15,000 and the required work experience based on your profession.
You can get a Personal Loan in Mumbai of up to Rs 5,00,000 from Hero FinCorp without collateral.
Yes, you can use a Personal Loan in Mumbai for wedding expenses, since it is an unsecured loan which can be used flexibly.