Get Instant Personal Loan in Mumbai up to ₹20 Lakh
Personal Loan in Mumbai
Mumbai, widely known as the city of dreams, is the commercial hub of India. Bustling nightlife, vibrant culture, helpful people and a rich past, Mumbai is a perfect concoction of old-world charm and modern delights. However, the cost of living is a bit on the higher side, especially due to the soaring real estate price. So, if you have moved to the city and are in need of urgent cash, get a personal loan in Mumbai with Navi.
Navi offers hassle-free instant personal loans with zero paperwork and attractive interest rates. All you need to do is download the Navi app and apply!
Features and Benefits of Personal Loan in Mumbai
Features and Benefits of Personal Loan in Mumbai
How to Apply for a Personal Loan in Mumbai?
How to Apply for a Personal Loan in Mumbai?
Eligibility Criteria and Documents Required
Indian Resident 18-65 years of age
PAN Card Holder
Salaried or Self-Employed
Aadhaar Card Holder
Interest Rates for Personal Loan in Mumbai
| Interest Rate | 9.90% p.a. onwards |
| Processing Fee | Up to ₹7,500 |
| Loan Amount | Up to ₹20 lakh |
| Loan Prepayment Fee | Nil |
| Loan Tenure | From 3 to 72 months |
How to Calculate EMI on Personal Loan?
Calculate your loan EMI beforehand to better plan your loan and manage your finances. You can either calculate your loan EMI manually or take the help of our personal loan EMI calculator. Here’s the formula for EMI calculation:
EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months.
However, manual calculations can be tasking. A better alternative would be using Navi Personal Loan EMI Calculator. All you have to do is select the loan amount, interest rate and loan repayment tenure. The calculator will show you the EMI in a matter of seconds.
Personal Loan Calculator
Loan Amount
Rate of Interest (P.a)
%
Loan Tenure (Months)
months
Monthly EMI
0
Total Interest
Total Amount
Why Choose Navi Personal Loan in Mumbai?
Instant disbursal
If you need instant cash to cross any financial hurdle, choose Navi. It hardly takes a few minutes to apply and get the loan disbursed to your account if you are eligible.
No hidden charges
Extremely transparent process with no additional or hidden charges. In case you have any doubt, feel free to write to us or check our rate card.
No paperwork
100% app-based paperless process. You can apply for a loan from anywhere, anytime.
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Frequently asked questions
It’s always recommended to have a good credit score. Having an above-average credit or CIBIL score could help you get better deals like preferential rates on your loan.
Here are some of the factors you could consider before taking a personal loan:
- Credit score: Having a good credit score can help you fetch better deals on your loan. Similarly, a poor credit score could lead to loan rejection
- Repayment capacity: Check your repayment capacity before taking a loan. Missed EMI payments could hurt your credit score and put a dent in your creditworthiness
- Loan EMI: Always calculate your loan EMI beforehand to check your monthly repayment obligations. This would help you manage your finances in a better way.
You can improve your credit score by following the best personal finance practices. This would include paying your credit card bills on time, correcting any inaccuracy in your CIBIL report, timely EMI payments, etc. For a detailed guide, read our blog on how to improve your credit score.
You can get an instant cash loan in 1 hour in Mumbai with Navi. The entire process takes hardly a few minutes. Just keep your PAN card at your disposal while applying, that’s it.