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Not getting the desired loan amount

- Try adding multiple partner/director as a co-applicant alongwith the borrowing entity

Not getting the desired loan amount?

- Finance Buddha can try to do a debt consolidation/balance transfer to increase eligibility

Business Loan in Mumbai

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.

How Finance Buddha can help you get a Business Loan in Mumbai?

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. 



Business Loan Eligibility Criteria in Mumbai

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



Business Loan Documents Required in Mumbai

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



Business Loan Interest Rates, Fees & Charges in Mumbai

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.

Bank Name

ROI in Mumbai

Processing Fee

Loan Amount


17% - 22%

2% - 2.5%

75K - 15 Lacs

Bajaj Finserv

19% - 20%


1 Lac – 45 Lacs

RBL Bank

18% - 19%


15 Lac - 35 Lacs


15% - 19%

2% - 2.5%

2 Lacs - 25 Lacs

Fullerton India

21% - 28%

2% - 3%

1 Lac - 20 Lacs


Apart from rate of interest, some of the other charges and fees applicable for business loan in Mumbai are:

Product Features

Loan Against Property

Unsecured Business Loan

Maximum Loan amount

Up to 60% of the property value

Rs. 10 lakhs to Rs 5 crores

Loan Tenure

5 - 15 years

1-3 years

Interest Rate

13.50% – 15%

14% onwards

Processing fees

0.25% - 2%

2% - 3%



Frequently Asked Questions