Personal Loan in Maharashtra, Interest rates from 10.50%
Avail personal loans in Maharashtra with interest rates starting at 10.50%. Enjoy fast approvals, minimal paperwork, and flexible repayment options!
Personal Loan in Maharashtra
Personal loans in Maharashtra are a convenient financial solution for individuals seeking funds for medical emergencies, weddings, travel, home renovation, or debt consolidation. With interest rates starting as low as 10.50% per annum, flexible repayment terms, and no collateral required, these loans are designed to cater to diverse financial needs. Here’s everything you need to know about personal loans in Maharashtra, including eligibility, repayment terms, charges, and application tips.
Eligibility Criteria for Personal Loans in Maharashtra
| Eligibility Factor | Details |
|---|---|
| Age | 21 to 65 years |
| Employment | Salaried or self-employed |
| Minimum Income | ₹20,000 per month (may vary by lender) |
| Credit Score | 750 or higher for better rates |
| Work Experience | At least 1 year (salaried); 3 years (self-employed) |
Comparison of bank Lenders in Maharashtra
Comparison of Personal Loan Interest Rates of Banks (2025)
| Bank | Interest Rate | Loan Amount | Processing Fee | Processing Time | Apply |
|---|---|---|---|---|---|
| DBS Bank | 10.99% – 30.00% | ₹25,000 to ₹15 Lakhs | 1%–3% + GST | 24–48 hrs | Apply |
| HDFC Bank | 10.90% – 24.00% | ₹50,000 to ₹40 Lakhs | Up to ₹6,500 + GST (~1–3%) | 24–48 hrs | Apply |
| Axis Bank | From ~11.25% | ₹50,000 to ₹15 Lakhs | 1.5%–2% + GST | 24–72 hrs | Apply |
| ICICI Bank | 10.80% – 16.65% | Up to ₹50 Lakhs | 0.5%–2% + GST | 24–48 hrs | Apply |
| Bank of Baroda | 10.49% – 18.75% | ₹30,000 to ₹20 Lakhs | Up to 2% + GST | 48–72 hrs | Apply |
| SBI | 10.30% – 15.30% | ₹10,000 to ₹35 Lakhs | Up to 1.5% + GST | 2–3 working days | Apply |
| IndusInd Bank | From 10.49% | ₹30,000 to ₹50 Lakhs | Up to 3.5% (2% online) + GST | 24–48 hrs | Apply |
| Yes Bank | 10.99% – 21% | ₹100,000 to ₹40 Lakhs | Up to 2.5% + GST | 24–48 hrs | Apply |
| Standard Chartered | 11.49% – 17% | ₹1 Lakh to ₹50 Lakhs | Up to 2.25% + GST | 48–72 hrs | Apply |
| IDFC FIRST Bank | 9.99% – ~10.75% | ₹1 Lakh to ₹50 Lakhs | Up to 3.5% + GST | 24–48 hrs | Apply |
| Kotak Mahindra Bank | From 10.99% | ₹50,000 to ₹40 Lakhs | 1%–2.5% + GST | 24–48 hrs | Apply |
| Punjab National Bank | 11.50% – 17.05% | Up to ₹20 Lakhs | Up to 1% + GST | 2–3 days | Apply |
| Bandhan Bank | 10.50% – 12.55% | ₹50,000 to ₹25 Lakhs | Up to 3% + GST | 48–72 hrs | Apply |
Comparison of Personal Loan Interest Rates of NBFCs (2025)
| NBFC | Interest Rate | Loan Amount | Processing Fee | Processing Time | Apply |
|---|---|---|---|---|---|
| Piramal Finance | From 12.99% | Up to ₹35 Lakhs | 2%–3% + GST | 24–72 hrs | Apply |
| Shriram Finance | From 14% | Up to ₹35 Lakhs | Up to 3% + GST | 2–3 days | Apply |
| Tata Capital | From 10.99% | Up to ₹35 Lakhs | Up to 2.5% + GST | 24–48 hrs | Apply |
| InCred | From 18% | Up to ₹10 Lakhs | 2%–4% + GST | Instant to 24 hrs | Apply |
| Finnable | From 16% | Up to ₹10 Lakhs | Up to 3% + GST | 24–48 hrs | Apply |
| Poonawalla Fincorp | From 9.99% | Up to ₹30 Lakhs | 1%–2% + GST | 24–72 hrs | Apply |
| Fullerton India | From 11.99% | Up to ₹25 Lakhs | Up to 3% + GST | 1–2 working days | Apply |
| Axis Finance | From 13% | Up to ₹25 Lakhs | Up to 2.5% + GST | 1–2 days | Apply |
| Mahindra Finance | From 10.99% | Up to ₹10 Lakhs | Up to 3% + GST | 2–3 days | Apply |
| Aditya Birla Finance | From 11.99% | Up to ₹50 Lakhs | Up to 2.5% + GST | 48–72 hrs | Apply |
| Bajaj Finance | From 11% | Up to ₹50 Lakhs | Up to 4% + GST | 24–72 hrs | Apply |
Repayment Terms
- Tenure Options: Personal loans in Maharashtra offer flexible repayment terms ranging from 12 to 84 months.
- EMI Structure: Fixed monthly installments ensure predictable repayment schedules.
- Prepayment: Many lenders allow prepayment of loans, but charges may apply, typically around 2%-4% of the outstanding amount.
Interest Rates and Charges for Personal Loans in Maharashtra
| Details | Rates/Charges |
|---|---|
| Interest Rate | Starting from 10.50% per annum |
| Processing Fee | 1%-2% of the loan amount |
| Late Payment Penalty | 2%-3% of the EMI amount |
| Prepayment/Foreclosure | 2%-4% of the outstanding loan amount |
Types of Personal Loans in Maharashtra
| Type | Purpose |
|---|---|
| Wedding Loan | Funding wedding expenses, venues, and decorations. |
| Medical Loan | Covering medical emergencies and healthcare costs. |
| Travel Loan | Financing domestic or international trips. |
| Education Loan | Supporting education fees and related expenses. |
| Home Renovation Loan | Renovating or upgrading your property. |
Documents Required for Personal Loans in Maharashtra
| Document Type | Examples |
|---|---|
| Identity Proof | Aadhaar, PAN, Passport, Voter ID, Driving License |
| Address Proof | Utility bill, Rent Agreement, Aadhaar, Passport |
| Income Proof | Salary slips, Bank statements (last 6 months), ITR |
| Employment Proof | Offer letter, Employee ID, or Business Registration |
| Photographs | Recent passport-sized photos |
Important Tips Before Taking a Personal Loan in Maharashtra
- Check Your Credit Score: A high score (750 or above) increases your chances of approval and lower rates.
- Compare Offers: Use loan comparison platforms to find the best interest rates and terms.
- Understand the Charges: Review the processing fees, prepayment penalties, and late payment charges.
- Choose the Right Tenure: Opt for a tenure that balances EMIs with your repayment capacity.
- Read the Fine Print: Understand all terms and conditions before signing the loan agreement.
How to Apply for a Personal Loan at Maharashtra?
Fincover.com is an online marketplace that allows you to compare loan quotes from various banks and NBFCs.
Mentioned-below is the process to apply for a Personal Loan at Fincover.
- Visit /banking/loan/personal/
- Complete the loan application by filling up all the necessary details
- Most popular quotes matching your requirement will be displayed.
- Apply for the bank along with the requested documents and get a reference number. You can then check the status of the application from our dashboard.
- Upon verification and approval, the loan will be disbursed to your account. The whole process takes just a few days, some even hours. The loan processing time varies from bank to bank
