Get a Personal Loan in Mumbai Instantly
Mumbai, the financial capital of India, is also home to several industries, including IT, consumer goods, textiles, and entertainment. Although the city offers various economic opportunities for its residents, the cost of living is relatively high and can sometimes strain one's finances.
If you have an urgent need for funds, you can avail a collateral-free Personal Loan from Poonawalla Fincorp of up to ₹50 Lakh. Enjoy a competitive interest rate, a seamless online application process, and swift approval with just a few clicks. Apply now!
Why Choose Poonawalla Fincorp
Personal Loan EMI Calculator
Use our Personal Loan EMI calculator to know our monthly payments. Enter the Personal Loan amount, tenure, and interest rate to calculate your EMIs. Try now!
Apply for a Personal Loan Online in Just 3 Steps
Click on “Apply Now”
Tap the “Apply Now”button to initiate your application.
Enter Details
Enter your DOB, PAN card number, monthly income, KYC details and residential details.
Upload Documents
Upload the necessary documents for quicker approval.
On successful verification, the loan amount will be disbursed into your bank account instantly.
Eligibility Criteria for a Personal Loan in Mumbai
You can apply for an instant Personal Loan online with attractive interest rates if you fulfil our basic criteria:
- Age: Between 21 and 60 years.
- Citizenship: Indian.
- Employment Type: Full-time job at a private or public sector organisation.
- Work Experience: Minimum 1 year with at least 1 month at current job.
- Net Monthly Salary: At least ₹30,000 per month.
Documents Required for a Personal Loan in Mumbai
Upload a few documents to apply for our instant personal loan:
- KYC Documents: Voter ID, Driving License, Aadhaar Card, PAN Card or Passport.
- Income Documents: Salary slip for the last 1 month and bank statements for the last 3 months.
- Address Proof: Passport, Rent Agreement or Utility Bills.
- Employment Proof: Official mail ID or Employee ID card.
Interest Rate and Charges for a Personal Loan in Mumbai
Get a loan for personal use with competitive interest rates and minimal charges:
i) If Foreclosure or Prepayment is done including balance transfer from another financial institution – 4 % on amount being prepaid plus applicable taxes.
2) After repayment of first six EMI:
i) If Foreclosure or Prepayment is done from own funds of the Borrower- Nil charges.
ii) If Foreclosure or Prepayment is done any other source including by balance transfer from another bank/financial institution- 4% on amount being prepaid plus applicable Taxes.
Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf
*T&C Apply
Different Uses of a Personal Loan in Mumbai
Here are the different ways you can use an instant personal loan in Mumbai:
-
Consolidating high-interest existing debts
-
Covering unexpected expenses for medical emergencies
-
Travelling to overseas destinations for your dream vacation
-
Renovating your old home or the interiors of your new home
-
Pursuing higher education in India or abroad
-
To cover wedding expenses or urgent personal expenses
Who Can Get a Personal Loan in Mumbai
You can easily go ahead with your online personal loan application if you fall under one of the following salaried categories:
-
Salaried individuals
-
Salaried Company Secretaries
-
Salaried doctors
-
Salaried Chartered Accountants
Tips for a Successful Personal Loan Application
To ensure quick approval and disbursal of your instant loan in Mumbai, here are some strategies that you can keep in mind:
-
Check the Personal Loan eligibility criteria before applying.
-
Try to keep your credit utilisation ratio below 30%.
-
Check your credit score before you apply for an online Personal Loan
-
Maintain a low debt-to-income ratio to showcase income stability.
-
Ensure you have the necessary documents such as bank statements, identity proof, etc.
-
Avoid multiple loan applications across different apps and lender websites.
-
Try to close your existing personal loans before applying for a new personal loan online.
mpact of Personal Loan on Your Credit Score
Here are some impacts of your credit score on your Personal Loan:
Timely Repayments Improve Your Score
Paying your Personal Loan EMI consistently on or before the due date helps strengthen your credit profile and shows that you're a reliable borrower.
Over-borrowing May Affect Your Score
When the Personal Loan amount is high compared to your income, it increases your credit usage, which can bring down your credit score.
Credit Checks Can Cause Minor Dips
Every time you apply for a loan, a credit check is performed, which may lead to a temporary, small decrease in your score.
Late Payments Can Harm Your Record
Missing a Personal Loan EMI can have a serious impact on your credit score and may reduce your chances of getting approved for future credit.
Common Mistakes to Avoid When Applying for a Personal Loan
Look out for some common mistakes below to avoid while applying for an instant Personal Loan:
Eligibility Requirements
Applying without confirming if you meet the lender’s eligibility criteria, such as income, age, or credit score, can lead to rejection. Always review the criteria before submitting your loan application.
Overlooking Rates and Charges
Focusing only on the Personal Loan EMI and ignoring other factors like interest rate, processing fees, or penalties can become costly. It’s important to evaluate the full cost of the loan, not just the monthly payment.
Choosing a Longer Tenure
Opting for a longer repayment period without checking might lower your monthly EMI, but it increases the total interest paid. It's important to balance affordability with the overall cost of the loan.
Entering Incorrect Information
Discrepancies in your documents or application details can result in delays or rejection. Always ensure that all the information you provide is accurate and up to date.
Not Reviewing Credit Report
Applying for a Personal Loan without checking your credit score or report in advance may lead to surprises. Unaddressed errors or low scores can result in rejections or higher interest rates. Reviewing your credit profile in advance gives you a chance to fix any issues.
Poonawalla Fincorp Branch Address in Mumbai
Poonawalla Fincorp Limited
Address: Unit No. 73, 7th floor, Kalpataru Square, Kondivita Lane, Andheri-Kurla Road, Andheri (East), Mumbai, Maharashtra -400059
Contact Number: 1800-266-3201 (Toll Free)
Timing: 10 am – 6:30 pm (Weekly off on first and second Saturdays and all Sundays)
Happy Customers, Happy Us


I opted for a Loan Against Property balance transfer with Poonawalla Fincorp, and the experience exceeded my expectations. The application process was completely digital, quick, and required minimal paperwork. Getting a significantly lower interest rate helped me reinvest in my business. With better financial flexibility, I was able to scale operations efficiently, leading to a 30% increase in business turnover. Poonawalla Fincorp made the entire journey stress-free, and I highly recommend their services to any business owner looking for smart financial solutions.


Poonawalla Fincorp’s Pre-owned Car Loan made the entire financing process effortless. The loan approval was quick, and the minimal documentation made it even more convenient. Within just a couple of days, the funds were disbursed, allowing me to purchase a well-maintained pre-owned vehicle without any hassle. The repayment options were flexible, and the entire experience was seamless. Thanks to Poonawalla Fincorp, I could get my car without any financial strain. Highly recommended!


Securing a loan to purchase a commercial property with rental income was crucial for my business. Having previously worked with Poonawalla Fincorp, I was confident in their services. The process was incredibly smooth and transparent. The quick disbursement and excellent post-sales support made the entire experience stress-free. Thanks to Poonawalla Fincorp, I now own a prime commercial property in Mumbai, which has significantly boosted my business. Their quick turnaround time and excellent post-sales support made all the difference. I wholeheartedly recommend them to anyone in need.


I had a great experience with Poonawalla Fincorp’s Pre-owned Car Loan. The offered loan amount was as per my expectations, and the entire process was smooth and hassle-free. The documentation was minimal, and the loan was disbursed in just two days! What stood out was the flexibility—repayment was easy, and the EMI structure was well-planned. The loan approval process was straightforward, making it convenient to get the car I wanted without any delays. Overall, the service was excellent, and I highly recommend Poonawalla Fincorp to anyone looking for an easy and quick loan process!


A friend in need, is a friend indeed. Poonawalla fincorp has been like one of those friends for me, who has supported me in my journey. With no hidden charges and no prepayment charges, the company has provided me with the adequate funds I needed for me professional practice. From the loan application process to the disbursal of funds, I did not face any problems. My experience was hassle-free and smooth. Not just me, all my fellow professionals and friends have had a wonderful experience with Poonawalla Fincorp’s Professional Loan.


I am practicing Chartered Accountant (CA) based out of Hubli. There were working capital issues that i was facing like upgrading my firm’s overall infrastructure, hiring well-qualified staff and digitization. Poonawalla fincorp hab been of great support when it comes to funding these requirements. I’ve got one of the best interest rates available in the market, my documentation process was fast & hassle-free. and the digital application process made it very simple to get a Professional Loan as a CA. I recommend to CAs to consider Poonawalla Fincorp for their working capital or any other funding requirements.


I run a chain of farmacy stores with 5 branches in pune. With the growing polpularity of home delivery, my customers were expecting the same from me as well. However, the extra capital requirement made it difficulf for me to hire delivery persons. With Poonawalla fincorp’s Business loan, I am now able to compete with online pharmacy retailers, manage working capital and upgrade my system. My customers have grown 50-60%. The loan applicatipn process is digital, simple and speedy. I was delighted to get my loan amount disbursed quickly, allowing me to upgrade my operationg seamlessly.
Explore Different Types of Personal Loans to Suit Your Needs




























































































































































Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s
FinHub
Frequently Asked Questions
Different types of Personal Loan include:
-
Personal Loan for Medical Emergencies
-
Personal Loan for Wedding Expenses
-
Personal Loan for Travel
-
Home Renovation Loan
-
Personal Loan for Salaried Employees
-
Personal Loan for Students
-
Personal Loan for Women
-
Personal Loan for Education
Personal loans provide a lump sum loan amount that you repay in monthly instalments over a set period.
You repay this amount over time through EMIs, which consist of both principal and interest. Since it is an unsecured loan, it requires no collateral but relies on your credit profile and repayment history.
You can use a Personal Loan in Mumbai for medical emergencies, to tackle sudden expenses, maybe for a wedding or home renovation, etc.
The tenure for our personal loan ranges from 12 to 84 months, which you can tailor as per your convenience and repayment capacity.
Yes, you can avail of a Personal Loan to pay for your child’s education. You can cover the admission and tuition fees, accommodation costs, travel expenses, cost of study material, etc., with the loan.
If your Personal Loan gets rejected, check the reason; it could be because of a lower credit score or high existing debt. Work on improving your credit profile or reducing outstanding dues before reapplying.
With Poonawalla Fincorp, you can get an online personal loan amount of up to ₹50 Lakh, with just a few clicks. Apply now and get affordable personal loan interest rates.
Currently, Poonawalla Fincorp personal loans are available for salaried professionals employed with public or private sector organisations. Self-employed individuals may explore other tailored financing products.
Salaried individuals typically need to provide some personal details such as income proof (salary slips & bank statements), identity proof (Aadhaar, PAN, etc.), and address proof (utility bills, rent agreement, etc.) when applying for a personal loan.
Yes, you may still be eligible for taking a personal loan even with a lower credit score, depending on your income stability and overall financial profile. However, Personal Loan interest rates or terms may vary, and improving your credit score can help you secure better loan offers.
Yes, you can apply for another personal loan even if you already have an existing loan. Your approval will depend on factors like your debt-to-income ratio, creditworthiness, and payment track record.
But it's better to pay off an existing personal loan before taking a new one.
Yes, the Personal Loan application process has become simple, especially for residents of Mumbai. With minimal documentation, flexible repayment options, and basic loan eligibility criteria, you can easily get an unsecured Personal Loan at attractive fixed interest rates.
Poonawalla Fincorp levies a personal loan processing fee of up to 3% plus taxes.