The court sentenced Laxmibai Dangle to life imprisonment yesterday.
Victim Latika Kamble (55) and Dangle lived in same locality in suburban Vikhroli.
According to police, Dangle habitually borrowed money from her neighbours.
On September 14, 2011, Kamble's nephew found her lying in pool of blood at her home.
She was bludgeoned to death by stone, and her bangles, earrings and mobile phone were missing.
Her daughter told the police that Kamble had had an argument with Dangle after she refused to lend Rs 50 to latter.
Suspecting her role, police arrested Dangle on September 21, 2011, and recovered the missing ornaments from Dangle's creditors.
During the trial, public prosecutor Jagganath Kenjalkar examined 16 witnesses to prove that last visitor to Kamble's house was Dangle, and she committed the murder to get money.
'Look' how the Sheena Bora case has taken a toll on Indrani Mukerjea
Photos: Katrina Kaif, Parineeti Chopra, Shilpa Shetty's movie outing in Juhu
Birthday special: 14 Bollywood actors who made it big on TV
Photos: Vaani Kapoor, Poonam Pandey, Sana Khan at fashion event
Photos: Rishi Kapoor, wife Neetu, daughter Riddhima at book launch