Mumbai is one of the biggest and most populated cities in India. It is also the fastest-growing city that attracts a lot of youths and working people from all over the country. The expenses in the city are relatively high with establishment costs right at the top with the most expensive cities. This primarily makes it tough for a salaried person to afford extra cash flow for their various needs outside the basic necessities. It can be as small as buying a new smartphone or getting a two-wheeler for your daily commute. Arranging for the extra cash when you have a fixed salary can be a difficult task. Thus, we at Credy promote to provide the quick extra cash that you might need without any security and approved instantly. Loans are also a burden for salaried person, thus we believe in making it affordable for every salaried person with low-interest rates and minimal fee.
Credy unlike many others, provide instant personal loans to people living in Mumbai and to the floating population from other parts staying in Mumbai for their various cash needs. With an instant loan, you can get funds for your expenses within hours from submitting a loan application. You can submit a loan application online on our website or android app and get a loan securely. We keep the whole process streamlined and transparent for everyone to secure a loan with minimum paperwork. The online process cuts down the delay any bank would take to approve your application and disburse the loan.
We have a paperless structure that allows us to approve a loan instantly and disburse the amount directly to the bank account. All the verification work is done by our team of experts and field agents. At no point in time through the loan approval procedure, you are asked to visit a branch or get the documents physically verified. Our field agents do the job for you by visiting your home personally and verifying the documents on your behalf. After the process is completed, you can expect the amount approved to be credited to your bank by the next NEFT hour depending on your bank.
Areas Credy Serves in Mumbai
Bhandup East, Mumbra, Borivali H.O, Sharma Estate, Juhu, Wadala Truck Terminal, Vikhroli Usha Nagar, Trombay, Tilak Nagar (Mumbai), TagoreNagar , S.B. Road, Sindhi Society, Sahakar Bhavan, Shivaji Nagar (Mumbai), R.A.Nagar , Rajawadi, Powai IIT, NITIE, Mulund Colony, Mhada Colony, Mahul Road, Barve Nagar, Anushakti Nagar, Netajinagar, Chunabhatti Infotech Park (Hinjawadi), Sakinaka, Thane H.O, Mahim H.O, Mumbai Central H.O, Chinchbunder H.O, Dadar H.O, Andheri H.O, Mumbai G.P.O. Kasarvadavali , Audit Bhavan, Kandivali East Extn Counter, Kandivali RS, BPC Jacob Circle, Parel Rly, Work Shop, Null Bazar , Mira, Khar Delivery, Santacruz P&t Colony, Vidyanagari, Vesava, Seepz, Santacruz(East) Sahar P & T Colony, J.B. Nagar, Chakala Midc, Bandra West, Andheri Railway Station, Andheri East, Nagari Niwara, Goregaon RS, Ins Hamla, Oshiwara , Jogeshwari East, Liberty Garden, Rani Sati Marg, Dahisar, S. K.Nagar, Mandapeshwar, Borivali West, Worli Sea Face, New Prabhadevi Road, Dharavi Road, Delisle Road, Opera House, Dockyard Road, L B S N E collage Sewri, V J B Udyan, Session Court (Aurangabad), Tilaknagar (Thane), Wagle I.E., Sandozbaugh, Naupada (Thane), Kalwa, Jekegram, Balkum, Apna Bazar, Nerul Sec-48, Kopar Khairne, Ghansoli, Airoli.
Reasons for Personal Loan in Mumbai
There are various reasons people apply for a personal loan in Mumbai. Most common being Medical Emergencies, Home Renovation and Marriage. However, a personal loan is a flexible loan which after credited to your account does not limit you in how you can spend it. You can spend the granted amount in any way you want to. You can use it for your weekend getaway or even finance your scooter or bike. Some of the reasons you can take a personal loan for in Mumbai are:
- Medical Emergency: A medical emergency can arise at any time and can catch you unprepared. A personal loan can help you tackle any such emergencies in time without waiting for the cash by using our instant loan app. You can apply for a loan online and complete the process without any paperwork on our app or website. The amount will be credited directly into your bank account within hours of receiving your application. This ensures you will have the cash in hand when in case of any medical emergency where you need the money as soon as possible. Time is very important in emergencies thus, we put in extra effort in such cases to credit the fund as quickly as possible within 24hrs.
- Home Renovation: Home maintenance costs are pretty high in Mumbai making it obvious for many people to turn to personal loans for their home renovation works. Your usual home renovation loans from banks normally take longer to be approved and have higher interest rates. You are also required to provide collateral before you can expect your loan application to be approved. A personal loan, on the other hand, is an unsecured loan that does not need any security or collateral for approval of your loan. This makes it easier to apply and secure a personal loan. We also have a paperless and instant approval for your loan application which makes it easier to acquire a loan from us.
- Marriage: Marriage is an expensive affair that bears elaborate and unplanned expenses. A personal loan from Credy can be really helpful in situations where you need quick cash to pay some unplanned overheads. As there is no restriction on how you spend the fund, you can use it for various expenses related to the marriage. You can choose to pay for the extra flowers or last-minute DJ without disrupting your savings. A personal loan is approved instantly and you can expect the sum to be credited in a day. The quick approval can help a long way in making your marriage a day to remember.
- Buying Goods: You can finance any expensive shopping you are willing to take this come the festive season. If you are planning to get a new washing machine or getting a new DSLR, a person is an easy and affordable way to finance your consumer durables. With a personal loan, you can purchase anything you want at any time without the burden of burning a hole in your pocket at once. A personal loan can be repaid in easy EMIs over a period of 3-12 months.
- Travel: If you are an explorer or love traveling, a personal loan gives you the freedom to explore freely without worrying about cash. You can apply for a personal loan to cover your traveling expenses so that you can enjoy your trip better. The amount granted can be used to pay your lodging expenses or tickets or use it for any other expenses you incur during your trip. As the loan is approved almost instantly and disbursed within 24hrs, you can set out for your dream vacation straight away without waiting for funds.
- Others: A personal loan can be used in many ways to pay any expenses. You can use it to pay fees for any course or education of your kids. You can use it to pay your credit card outstandings or you can even use it for debt refinancing. It is up to your will and choice to spend the amount once granted as a personal loan. The amount is credited directly to your bank account which you can withdraw for any purpose or expense anytime.
Mumbai Personal Loan Interest Rate and Fees
We at Credy believe in making it affordable for everyone to acquire a personal loan. We thus charge a nominal fee of 3% as a processing fee on the loan amount with Rs 500 as a minimum. The interest rates are variable from 1-1.5% per month for a loan tenure of 3-12 months. Thus, the affordable interest rates make it ideal for you to secure a personal loan quick and easy. For the other fees and charges please refer to the chart below:
|Loan Amount||Up to ₹ 1 Lakh|
|Interest Rate||1 to 1.5% of Loan Amount Per Month|
|Loan Tenor||3 to 12 months|
|Processing Fee||3% of Loan Amount (Minimum ₹500)|
|Early Repayment Fee||2% of outstanding loan amount|
|Late Fee||2% of EMI Amount per week|
Personal Loan Calculator
A personal loan is an unsecured loan that is granted to anyone with a salary account and a good credit score. Our basic eligibility criteria include:
You can apply for a personal loan up to 1 lakh rupees on our Android app or website with some basic information like your salary statement and personal information. You can check your eligibility and signup on our app or website to submit a loan application. The application usually gets approved instantly and the amount is disbursed to your bank account as early as 24hrs. Your credit score is the biggest determinant of the loan amount that can be granted to you. A good credit score will allow us to approve a higher loan amount. Thus, maintaining a good credit score is very important for anyone who is planning to take a loan or already has a loan.
Loan Stories of our Customers from Mumbai
#1 Story of Radhika
Radhika (name changed) is 25 years old and lives in Kopar Khairne, Mumbai with her family. She had a requirement of ₹1,50,000 for a personal loan. A personal loan can be for any personal reason and may have the requirement to get the money instantly. Radhika needed quick money but her monthly salary was ₹19,022. Most banks and lenders do not approve a personal loan for this income.
At Credy, we just don't look at the monthly income amount but also take into consideration other factors like credit score, spending patterns, savings, payment history of previous loans, etc. Radhika had a good credit score of 812 and had zero days of EMI delay on loans or credit cards in the last 1 year. After careful evaluation of this and several other factors, Radhika's loan was disbursed in just 6 hours!
There are many happy customers like Radhika who are impressed by our fast online loan process.
#2 Story of Abhinav
Abhinav (name changed) is 26 years old and lives in Airoli, Mumbai with his friends. He had a requirement of ₹50,000 for a medical emergency. A medical emergency can be stressful as well as costly and getting a quick loan may come as a relief. Abhinav needed quick money but his monthly salary was ₹21,000. Most banks and lenders do not approve a personal loan for this income.
At Credy, we do a careful assessment of the applicant's profile for multiple factors like credit history, spending patterns, credit score, loan payment history, etc. Monthly income is just one of the many factors. Abhinav had a good credit score of 809 and had zero days of EMI delay on loans or credit cards in the last one year. Considering this and many other factors, Abhinav's loan was approved and disbursed.
We are proud to have helped many customers like Abhinav.
#3 Story of Jayant
Jayant (name changed) is 27 years old and lives in Nagari Niwara, Mumbai in his rented house. He had a requirement of ₹10,000 for debt refinance. Loans with high-interest rates must be paid off soon and that requires a big amount of money. Jayant needed money quickly but banks and large lenders take a long time to disburse small loan amounts.
At Credy, we use technology and analytics to give a fast loan decision and quick disbursal via a paperless process. On evaluating Jayant's loan application, we found that he had good spending patterns on his salary bank account and decent credit history. Considering this and many other factors, Jayant's loan was approved and disbursed in 5 hours!
We are glad to have offered timely help to Jayant who is just one of our many happy customers.
As you can see from our customer experiences, we are fast, reliable and understand the problems of everyone applying for a loan. We always take the extra step to ensure you can have the funds in your need without waiting for long.