Business Loan in Mumbai - Apply Online @11.69%

Irrespective what your business need is taking a business loan is always a great option available in Mumbai. With the help of a business loan you will not just get necessary funding for your needs but will also get tax exemption benefits and will have transparency of all information. Banks will do a thorough checking of the documents before applying a loan, thus it is in a way rechecking if you have all necessary and valid documents related to your business and its activities.

Getting a business loan in Mumbai is no more a challenge. Finance Buddha is here to handhold and to help every applicant to get business loan in hassle-free manner. You can simply visit the website and fill the application form. Along with this you will be also able to check the eligibility and documentation factors with each bank. Post considering the applicant can pick the bank from the options and apply for a business loan. 

It is crucial that every applicant for a business loan in Mumbai should meet these requirements.

• Age of the applicant should be between 21 - 60 Years
• Business should have a vintage of at least 3 years
• Business should have IT returns filed for the last 3 years
• Business Individual should be staying in the city for at least 1 Year
• Business should have all company documents adhering to the state laws
• You would require basic documentation such as your address proof, identity proof, latest bank statements etc.
• Business Financials which include the overall turnover and profit after taxes should also be available

Rate of interest and other charges vary from bank to bank, the below list will give you a brief information of what the rates and processing fees are at the top 5 business loan providing banks in Mumbai.

Business Loans Interest Rate Comparison of Top Banks / NBFCs in Mumbai (updated 27 May,2023)

Below are some of the common documentations required for any type of business loans in Mumbai.

• ID Proof
• Address Proof
• Proof of Continuity Of Business
• Bank Statement 6 Months
• Board Resolution (If pvt ltd co. is co-borrower/Partnership Authorization Letter {if partnership firm is co-borrower}
• ITR & Statement Of Computation of Income – for last 2 Years
• CA Certified or Audited P/L Acc Statement and for >40 Lacs cases Audit report along with schedules of P&L and Balance Sheet – for last 2 years
• Latest ITR of Co-Applicants – For last 2 Years
• Ownership Proof of Residence or Office