Personal Loans in Navimumbai

  • Bajaj Finance
  • ICICI Bank
  • INDUSIND Bank
  • FULLERTON
  • IDFC
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Why apply through CreditMantri

Quick and easy approval for Personal Loans in Navi Mumbai CreditMantri matches your credit and demographic profile to lender's Personal Loan lending criteria - others just match your demographic criteria. We shortlist lenders willing to lend to you Personal Loans in Navi Mumbai, based on our proprietary matching algorithm.

In effect, we pre-screen your application to make sure you are likely to qualify as per the lender’s credit criteria. We upfront check whether you qualify for Personal Loan in Navi Mumbai Hence the chances of your Personal Loan application getting approved is higher. We even try our best to help people with low CIBIL Score, get a Personal Loan in Navi Mumbai.

max tenure

5 yrs

processing fee

0.5%*

best rate

12.99%*

  • Maximum loan - 20 lakhs
  • Attractive Interest Rates
  • Quick and easy approval process
  • Balance transfer on existing personal loan
  • Interest rate - 12.99% to 23%
  • Processing fee - 0.50% to 2.50% of loan amount
  • KYC – ID proof, DOB Proof, Signature proof & Address proof
  • Bank Statements
  • Residence stability proof
  • Employment stability proof
  • Latest 3 month salary slips / Form-16 / Appointment letter

max tenure

5 yrs

processing fee

2.25%

best rate

14.75%

  • Maximum loan - 25 lakhs
  • 5-minute online personal loan approval and cash in bank in 72 hours
  • Interest rate - 12% to 15%
  • Processing fee - 2.25% to 3% of loan amount
  • Per bounced cheque - 1000/- and 2% penal interest per month
  • Secure fee - 999/- for instant approval online
  • Online application, Employee ID card
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID
  • Address proof (any one) - Passport, Driver's license, Ration card, Mobile bill, Letter from employer
  • Signature proof (any one) - Passport, PAN, Driver's license, Photo credit card, Letter from bank verifying signature
  • Work experience documents - Appointment letter, Form 16, 1 yr old salary slip, same for previous employment

max tenure

5 yrs*

processing fee

999₹*

best rate

11.49%*

  • Maximum loan - 20 lakhs (salaried)
  • Maximum loan - 30 lakhs (self employed)
  • Fixed interest rate
  • Direct credit of the loan amount through Fund Transfer (FT)
  • Simple repayment options such as ECS, AD or PDC
  • Interest rate - 13% to 18%
  • Processing fee - Up to 2.5% of loan amount
  • Application form with 2 photographs , Processing fee cheque
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID
  • Address proof (any one) - Passport,Utility bill, Lease agreement
  • Salaried - Salary slip for 3 months, bank statement with salary credit
  • Self employed - Office address proof, audited financials for last 2 yrs and latest 6 months balance sheet

max tenure

4 yrs

processing fee

2%

best rate

17.25% *

  • Personal Loan up to 20 lacs.
  • Easy Repayment over 12 to 48 months.
  • Quick and easy approval process
  • Balance transfer of an existing Personal loan
  • Interest Rate: 17.25% onwards
  • Processing Fee: 2% onwards
  • Application form with a recent photograph
  • ID Proof - Passport Copy/ Voter ID card/ Driving License/ PAN Card
  • Address Proof - Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License
  • Age proof - PAN Card, Passport, any other certificate from a statutory authority
  • Bank Statements (Bank statement / Bank Passbook for last 6 months) OR Last 3 months’ salary slip
  • Form 16
  • Income Tax Returns for last 3 years
  • Processing fee cheque
  • Previous 2 years’ experience letter without any gap (if current work experience < 1 year)

max tenure

5 yrs

processing fee

2%

best rate

15%

  • Ability to save on interest
  • Quick and transparent processing
  • Customized loan as per your requirement
  • Simpler documentation
  • Interest Rate – 15%
  • Processing Fees - 2%
  • PAN Card
  • Address Proof -Any one of Aadhaar/Driving licence/Passport/Voter ID/NREGA Card
  • Age Proof
  • Last 3 months’ salary slips
  • Last 6 months’ bank statement

Personal Loan in Navi Mumbai

Do you live in Navi Mumbai? Are you looking for a personal loan in Navi Mumbai and wondering what your options are? Read on!

Personal Loans in Navi Mumbai

What is a personal loan?

A personal loan is an unsecured loan, meaning you don’t have to pledge collateral in order to avail the loan. The end use of the loan is not restricted and it could be used for anything from personal expenses like your child’s wedding, to fund your dream vacation, for a medical emergency or any other business expenses. It could be used as a debt consolidation tool as well, since its interest rates are generally lower than credit card interest rates.

The downside to a personal loan is that it is among the most expensive loans. They come with the highest interest rates since they are 'unsecured' and the lender has no safeguard against default.

The interest rate on a personal loan could range from as low as 12.99% to as high as 32% or even more. It is influenced by a variety of factors, like your repayment record, credit history, net annual income, debt-to-income ratio, employment stability etc.

Key features of a Personal Loan:

  • Easy documentation and speedy approvals
  • Quick Processing
  • Flexible tenure up to 5 years
  • Interest Rate starting at 12% p.a.
  • Over-the-Counter loans available with leading banks, subject to certain conditions
  • Facility to apply online with most lenders
  • Special offers for existing customers like a reduced interest rate, etc.

Personal Loans in Navi Mumbai—Availability

All major banks and NBFCs offer personal loans in Navi Mumbai. Popular banks and NBFC’s that offer personal loans in Navi Mumbai include: Karur Vysya Bank, Citibank, Indian Bank, Punjab national Bank, RBL Bank, IndusInd Bank, Kotak Mahindra Bank, Central Bank of India, HDFC Bank, IDBI Bank, Bank of India, SBI, Canara Bank, Axis Bank, Fullerton, Bajaj Finance, Mahindra Finance, Shriram Finance, etc.

Personal loans in Navi Mumbai for salaried, self-employed, business people and NRIs are available.

Personal Loan for CIBIL Defaulters in Navi Mumbai

A good CIBIL score is a pre-requisite for availing any kind of loan. If you are a CIBIL defaulter, it can get very difficult to get any form of credit, let alone a personal loan.

You could perhaps approach personal loan providers in Navi Mumbai that offer special loans for defaulters. Be prepared for high interest rates and other restrictions if you are offered a loan under such circumstances.

Is it possible to get a personal loan in Navi Mumbai with bad credit?

Generally, the higher your credit score, the better the interest rate offered will be. The benefit of having a good credit score is that you will be able to negotiate a lower interest rate with your lender. It is not entirely impossible to avail a personal loan with bad credit as well, as it depends on a variety of factors, like the severity of your credit situation, and the relationship you share with your lender.

Eligibility for Personal Loan in Navi Mumbai

  • Age criteria: The applicant should be between 21 years to 65 years (at the time of maturity of the loan).
  • Salaried, self-employed, and business professionals are eligible to apply. If you are not a regular wage earner, talk to your bank manager about your situation.
  • Minimum salary for salaried people is typically Rs. 15,000 though the salary requirement depends on what tier of city you live in and the company you work for.
  • Should be staying in the same address / city for at least 1 year
  • Total work experience should be at least 2 years
  • Should have a stable employment history.

You can check your eligibility for a personal loan in Navi Mumbai online, on the lender’s website.

Documents Required for Personal Loans in Navi Mumbai

For salaried / self-employed professionals:

Following are an overview of the documents generally asked while applying for a personal loan in Navi Mumbai:

  • Valid Identity Proof - Passport, Driving License, Voter ID Card, Aadhar Card, PAN Card (any one document to be submitted)
  • Valid Address Proof – Lease/Rent Agreement, Passport, Driving License, Ration Card, Utility bill (not more than 3 months old), Bank Statement
  • Income Proof Documents – Last 6 months salary slip and latest Form 16
  • Bank Statements: Past 6 months bank statement with salary credit
  • Continuity of employment proof, like offer letter, relieving letter, etc.

For the self-employed and those into business, the following might be requested for in addition to the above-mentioned documents.

  • Degree Certificate / educational documents for self-employed professionals.
  • Proof of business existence
  • Last 3 years Income Tax returns (self and business)
  • Last 3 years Profit /Loss and Balance Sheet, duly attested by a CA
  • Any other documents as directed by the Bank or NBFC

Personal Loan in Navi Mumbai With Low Interest

If you have a good credit history, then you stand a better chance of availing a loan at low interest rates. Periodically obtain your credit report and check your score. Lenders usually offer a low interest rate to those who have a good credit history.

Personal Loan in Navi Mumbai FAQS

Do I need to provide security in order to avail a personal loan?

No security / guarantor / collateral is required to avail this loan.

What is the ideal credit score to avail a personal loan?

The ideal credit score would be 750 and above. Keep in mind though, that sanctioning of a personal loan depends on several other factors as well, such as your income and employment stability. A good credit score alone does not guarantee loan approval.

What is the minimum and maximum loan amount for salaried people?

The loan amount depends on various factors like your net annual income, your repayment behavior, your credit score, credit history and other factors.

How do I repay the loan?

You can repay the loan amount in convenient EMI (Equated Monthly Instalments), which is the monthly amount you need to pay your lender towards servicing your personal loan—interest included. The longer your tenure, the lower your EMI will be.

Is there any restriction on the end-use of a personal loan?

The personal loan could be used for any legitimate purpose. Its end use is not restricted.

What is the interest rate on a Personal Loan?

The interest rate varies with each customer and their credit profile, as well as the lender’s policies.

How to apply for Personal loan in Navi Mumbai:

There are several ways to apply for a personal loan:

  • You can apply directly online at the bank / NBFC's website;
  • You can go in person to your nearest branch and apply with the required documentation

Need help? Alternatively, if you think you need help with your personal loan application and advice on loan eligibility, then CreditMantri can guide you through the entire process and match you with the loan offer that best suits your unique credit profile.