Personal Loan in Mumbai

All you need to do is enter your information and then compare your best loan offer to see whether you qualify. All that remains is for you to select your loan amount and payback period. Your unique eligibility will also influence the maximum loan repayment duration.

Eligibility Criteria for Personal Loan in Mumbai

1. Age Criteria: You need to be between the age of 21 to 60 to apply for a personal loan.


2. Employment Factor: Consistent employment is an important factor. A stable job history is required for salaried persons, while a steady income flow is required for self-employed individuals.


3. Salary Structure: It is important to look at your salary to guarantee you can repay the loan.


4. CIBIL Score: A strong CIBIL score is important since it represents your creditworthiness. A higher score enhances the likelihood of loan acceptance and may result in better loan conditions.


5. Indian Nationality: You must be a resident of India to apply for a personal loan in Mumbai.

How to apply for a Personal Loan in Mumbai?

•     Step 1: Install the Airtel Thanks App on your smartphone.


•     Step 2: Login using your mobile number.


•     Step 3: Enter your PAN number.


•     Step 4: Fill in your bank details to receive the loan amount.


•     The loan amount will be credited instantly!

•     Step 1: Go to the Airtel Personal Loan website.


•     Step 2: Move down to find the QR code to initiate your loan application.


•     Step 3: Scan the QR code.


•     Step 4: The QR code will take you to the Airtel Personal Loan page.


•     Step 5: Start filling your application by entering your personal details like name, DOB, etc.


•     Step 6: Enter the employment details with PAN and Aadhaar number.


•     Step 7: Confirm the details that you have entered.


•     Step 8: You will instantly see the loan offers that you are eligible for. If not, your online personal loan application will be rejected.


•     Step 9: Select one of the loan offers and proceed with the application.


•     Step 10: Complete the KYC.


•     Follow the instructions shown on the screen and complete the personal loan application online.


•     After getting the approval, the loan amount will be credited to your account within 24 hours.


•     Open the Airtel Personal Loan page on your smartphone.


•     Click on the ‘Apply for Airtel Personal Loan’ button.

Key Features and Benefits of Personal Loans in Mumbai

•     Flexi Credit of ₹10,000 to ₹9,00,000.


•     Rate of Interest starting from 11.5%.


•     Personal Loan tenure of 3 to 60 months.


•     Credit disbursal within 24 hours.


•     The entire process is paperless.


•     Low processing fee of 2% to 5% + GST.

•     Flexibility to choose your loan amount, tenure, and even the EMI amount as per your need.


•     Immediate money transfer to your account.


•     Quick and cashless process.

Key Documents Required to Apply for a Personal Loan in Mumbai

•     Name, Address, PAN card number, Aadhar Card number.


•     Employment details.


•     Bank details.


•     Finally, you need to complete your online KYC process.

Fees and Charges for Personal Loans in Mumbai

Understand Personal Loan Interest Rates in Mumbai

Things to avoid while applying for a Personal Loan in Mumbai

• Failure to pay credit card payments on time: If you have other loans like some short term loan or a credit card with a big debt, your loan application will most probably be declined. Your take-home salary is reduced by other EMIs and credit card fees. Keep your credit usage to a minimum for personal loan approval.


• Ignoring your loan repayment capacity: Make sure that the entire decrease in interest charges outweighs any prepayment fees imposed by your lender, if any.


• Submitting applications to several lenders: Applying for many loans in a short period might significantly damage your credit score.