Payday Loans in Mumbai India

Payday loans in Mumbai, India are provided in form of small cash loan at Loanbaba.com. Through payday loans, you can avail short-term finance as and when required. The repayment tenure can range between 30 days and 90 days. The loan amount is approved till the salary day of the applicant; hence the borrower is expected to repay the loan amount from his/her salary. The small cash loans limit is set between Rs. 10,000 and Rs. 50,000 and can be disbursed the same day the loan application is approved on our website.

The option of small cash loan is best for those who are having a sudden and immediate need of cash, or for those who are having a bad credit history. The payday loans in Mumbai are approved by Loanbaba.com even if you have a decent credit score. Other eligibility factors such as employment history, financial profile, and repayment capacity will be accounted for deciding on approval of quick payday loans in Navi Mumbai, Mumbai and Thane.

Payday Loans in Mumbai India Details

Loan Amount

Rs. 10 thousand to Rs. 50 thousand

Loan Tenure

30 days to 90 days

Interest Rate

0.1% per day

Application-in-minutes

You need not to visit the bank with bunch of documents. To apply for payday loans in Mumbai, India all you need to do is just upload the relevant documents like employment proof, CIBIL score, ID proof and last 6 months bank statement, online at our website.

Free Eligibility Check

You need not to depend on the lenders to tell you if you are eligible for the loan or not. Instead,  at our website, you can check your eligibility online through the loan eligibility calculator. Similarly, you can get to know the tenure, rate and amount suitable as per your income profile.

Things to Consider Before Applying for Payday Loans Mumbai

  • Your Professional Status: You need to draw monthly salary since only salaried individuals are allowed to obtain payday loans Mumbai. The salary must reflect in your bank account. Salary handed in cash will not be considered.
  • Your Repayment Capacity: Since the tenure of payday loans are short and up to only 3 months, you need to be sure about your repayment ability. Make sure you do not have too many existing financial liabilities. You will have to pay monthly instalment.
  • Your Credit History: As the loan in unsecured, your credit history will be checked. A CIBIL score of 600 and above is needed to qualify for this loan. However, if you had defaulted in credit payments out of a genuine reason, then you can be still considered as a reliable candidate for the loan.

Requirements for Applying for Payday Loan in Mumbai

  • Eligibility Criteria: The minimum salary required is Rs. 25,000. The person must have a credit score of 600 and above. The person must be employed with the employer for a period of at least 3 months. You can use our free-of-cost small cash loan eligibility calculator to understand your eligibility for the loan. On the other hand, you can also utilize the loan EMI calculator for free.
  • Documents Required: Only minimal and basic documents requires such as identity proof and current address proof in form of Aadhar card, PAN card, voter ID card, driver’s licence, passport, electricity bill, utility bill etc. You need to provide income proof such as salary slip, bank statements, and your credit score will be checked.
  • Interest Rate: The interest rate is as low as 0.01% per day.
  • Other Terms: You have to provide post-dated cheques as per repayment terms and conditions. Additional charges will be applied as decide per loan agreement, on delay in loan EMI payment.

Need-based Loanbaba Payday Loans in Mumbai

For small cash loan Mumbai, you need have steady monthly salary. If your eligibility and submitted documents are found to be in order then the payday loan is processed and then disbursed online soon.  As soon as you apply for the payday loan, the e-application will be seen and processed further by the loanbaba.com. We assure you the lowest rate of interest for your instant cash loan in Mumbai, India.

Payday Loans Mumbai FAQs

Below mentioned are the important questions about Payday loans Mumbai.

  • addFAQs
    1. Can I get payday loan or small cash loan if I do not reside in Mumbai?
    2. You are eligible to get payday loan only if you are a resident of Mumbai, Navi Mumbai, or Thane. Currently, we do not cater small cash loans to other parts in India.

    3. How much can I borrow and is the amount disbursed as hard cash?
    4. You can borrow between Rs. 10 thousand and Rs. 50 thousand as loan. The amount is not handed over as hard cash directly by Loanbaba, but rather deposited in the bank account of the borrower.

    5. What happens if I default at repayments?

    You will be charged a decided amount, specifically Rs. 100 per day as penalty on defaulting at loan repayment.

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