Personal Loan in Mumbai
Personal Loan EMI Calculator
Get a Personal Loan in Mumbai Up to 5 Lakh
Mumbai is India’s financial capital and one of the busiest cities to live in. From business areas like BKC, Lower Parel and Nariman Point to residential locations across Andheri, Thane and Navi Mumbai, everyday life here comes with high costs. Rent, travel, medical expenses, education fees and family responsibilities can often stretch monthly budgets.
To manage these needs, many residents opt for unsecured Personal Loans. Hero FinCorp offers Personal Loans in Mumbai that can be applied for online with instant approval. You can borrow up to Rs 5 Lakh at competitive interest rates and choose flexible repayment tenures based on your income. With a minimum monthly income of Rs 15,000 and a fully digital process, you can handle both planned and urgent expenses without affecting your long-term savings.
Why Mumbai Residents Prefer Hero FinCorp?
Mumbai residents look for speed, clarity and predictable EMIs when choosing a lender. With high living costs and busy schedules, a simple and reliable loan process matters. Hero FinCorp’s instant loan in Mumbai is designed to meet these expectations.
- Trusted by 20M+ customers across India for quick and reliable financial support
- Loan disbursed every 30 seconds, reflecting fast processing and strong digital systems
- 1 million+ app installs, making it easy to apply for and manage loans online
- Simple application through the Hero FinCorp website or personal loan app
- Loan amounts of up to Rs 5 Lakh for personal, medical, education or household needs
Whether you live or work in areas such as Andheri, Borivali, Thane, Navi Mumbai, Dadar or Lower Parel, this digital-first process helps you save time while keeping your finances on track.
Eligibility Criteria
The eligibility criteria for a Personal Loan are simple and easy to meet.
| Criteria | Requirement |
| Age | 21-58 years |
| Citizenship | You must be an Indian citizen. |
| Work Experience | 6 months for salaried individuals and 2 years for self-employed individuals. |
| Monthly Income | Minimum Rs 15,000 |
| Credit Score | 725 or above |
No Documents Required for Personal Loans in Mumbai
You can easily apply for a Personal Loan in Mumbai as the application process is fully digital and hassle-free. Since the entire journey is digital, applicants do not need to submit physical documents or visit a branch.
- You only need to provide consent for online verification of your details.
- Basic personal and income details are captured online to assess eligibility.
- Keep your PAN and Aadhaar numbers ready to complete KYC quickly.
Interest Rate and Charges
As per RBI guidelines, we ensure complete transparency in all costs. Our Personal Loan interest rates and other charges are transparent. Here is detailed information:
| Fees & Charges | Amount Chargeable |
| Interest Rate | Starting from 19% p.a. |
| Loan Processing Charges | Minimum 2.5%+ GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST ( As per the latest NBFC Master Circulars ) |
| 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. The online loan app does not charge any cancellation charges |
| 2. The interest amount paid is non-refundable | |
| 3. Processing charges are also non-refundable |
Mumbai-specific Uses of Personal Loan
Mumbai’s fast-paced lifestyle and high cost of living create a wide range of financial needs. A Personal Loan in Mumbai can be used for several purposes without any end-use restriction, such as:
- Relocation and rental expenses: Manage high security deposits and rent when moving closer to work locations in areas like Andheri, BKC, Lower Parel, Powai, Thane or Navi Mumbai.
- Medical expenses: Cover hospital bills, treatments or emergency care at leading hospitals and speciality clinics across Mumbai.
- Education and skill development: Pay for school or college fees, coaching classes or professional courses that support careers in finance, media, IT and other industries common in Mumbai.
- Weddings and family functions: Handle expenses related to venues, catering, jewellery, décor and travel for weddings and celebrations held across Mumbai and nearby locations.
- Home improvement: Fund repairs, interior work, furniture or appliance purchases for flats and independent homes across Mumbai’s residential areas.
- Work-from-home setup: Invest in laptops, office furniture, power backup and internet upgrades to support remote or hybrid work arrangements.
Since the loan is unsecured, you have full flexibility to use the funds based on your personal and family priorities.
How To Apply For a Personal Loan in Mumbai?
Need an instant Personal Loan in Mumbai? Here’s how you can get it online.
- 01
Visit the website or install the Personal Loan online app.
- 02
Go to the Personal Loan page and click Apply Now to apply for a Personal Loan.
- 03
Enter your mobile number and verify it with the OTP received.
- 04
Choose the loan amount you need and proceed.
- 05
Verify your KYC details to confirm your eligibility.
- 06
Click Submit to finish your request for an instant Personal Loan online.
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Frequently Asked Questions
Our rates start from 19% per annum. You can use the Personal Loan EMI Calculator to plan your monthly instalments.