Lowest Interest Personal Loans Online in 2021

Now no reason to postpone your bucket list.

Loans up to 5 Lakhs

Avail loan from Rs. 20,000 to Rs. 5 Lakhs

Speedy approval and prompt disbursal

Once sanctioned, will process in a matter of hours

Collateral Free

No need for collateral while availing personal loan

Eligibility Criteria

Any INDIVDUAL residing in state of Maharashtra who is an active Member of Mudra Co-op Credit society, and is working in MNC, Public or Private limited company and is between 21- 58 years of age is eligible for availing a personal loan at Mudra

A net salary of Rs.20,000/- per month for Cities and 15,000 per month for Rural areas
A person who has a minimum educational qualification of being a graduate
An active resident of a city for at least 1 year
A minimum work experience of at least 1 year
A Guarantor required

Essential Documents

For Salaried Applicant

Proof of Identity – Passport, Pan Card, Aadhar Card, Voters ID, Driving License (Any one of these)
Proof of Residence – Utility Bill, Aadhar Card, Passport or Leave & License agreement
Bank Statement for last 3 months with income details
Salary Slip for the last 3 Months
2-3 Passport Size Photographs

For Guarantor

Proof of Identity – Passport, Pan Card, Aadhar Card, Voters ID, Driving License (Any one of these)
Proof of Residence – Utility Bill, Aadhar Card, Passport or Leave & License agreement
Bank Statement for last 3 months with income details
Salary Slip for the last 3 Months
2-3 Passport Size Photographs

Fees and Charges

Loan	Personal Loan
Reducing Balance Interest Rate	Starting 14%
Loan Processing Charges	Upto 3% of the loan amount
SHARES AMOUNT	5 % of the loan amount
Stamping Charges	Applicable as per the State's Stamp Act
Overdue Charges (Penalty)	25% of the Interest
Dishonour Charges Per Instance	Rs. 750 per instance
Swap Charges (Change in mode of repayment/Instrument/EMI Date swap)	Rs.500 per Swap per Instance
Prepayment Interest / Foreclosure Charges	Lock in period for 06^ months. After 6 to 12 Months 5.00% 12 to 24 Months 2.50% 24 to 36 Months 2.00%
Duplicate Issue of NOC	Nil
No Due Certificate	Nil
Charges applicable in case customer requests for copies of records pertaining to his transactions ( SOA / Amortization Schedule)	Once yearly without any charge. Post that Rs.200 per request

Frequently Asked Questions

What is a personal loan?

A home loan or car loan will allow you to use the money to purchase a home or car respectively, but when you apply for a personal loan, it need not be restricted to a specific use.

With Mudra Personal Loans, you can get instant money for a wide range of your personal needs like renovation of your home, marriage in the family, a family holiday, your child's education, buying a laptop, medical expenses or any other emergencies.

How can I apply for a Personal Loan?

With minimum documentation, you can now avail a personal loan for an amount up to Rs. 5 lakhs at attractive rates of interest.

Alternatively, the forms are available at our Branches. You can fill the form out and submit it at the nearest Branch.

When can I swap my PDC's and what are the charges?

What do I need to do, in case I want to opt for an ECS mode for making my Installment payments instead of PDC?

You need to do the followings:

You would need to sign an ECS Mandate form.
One security cheque to be drawn in favor of “Mudra Co-op Credit society ltd”. This cheque needs to be undated and blank, and at the bottom, it needs to mention 'Not more than the loan amount'.
Six security cheques to be drawn in favor of “Mudra Co-op Credit society ltd”'.This cheque needs to be undated and blank, and at the bottom, it needs to mention 'Not more than three times the EMI amount'
PDC swap charges* will be applicable at Rs. 500/- per instance

When will I receive No Objection Certificate?

Please follow the below procedure:

In case your Loan has matured, you need to send us a request for NOC via letter/email. NOC will be issued to you 15 working days post termination of the loan in our system (provided there is no penal outstanding).
In case if your loan is foreclosed, NOC will be issued to you 15 working days post termination of the loan in our system (provided there is no penal outstanding).

How long does it take for Mudra to approve a personal loan?

Once you submit your application form and the required documents as per Society's criteria, you can expect our approval and disbursal of your personal loan within 10 working days provided everything is in order. All loan approvals are at the sole discretion of the Mudra Co-op Credit Soc. Limited.

Let's discuss money.

Visit

LG-34. Avior Corporate Park, LBS Marg,
Mulund (W), Mumbai-400080

Call

For assistance, call our Phone Banking
at 96780 96780.

Write

Be it an enquiry, feedback, write to us
at info@mudraonline.in

Get money forwhat matters most.

Mudra Personal Loan