Best Banks for Business Loan Mumbai
1% - 2.5% of the Loan Amt
Business Loan Mumbai Features
- Business Loan Mumbai gives an Overdraft facility without any security.
- Avail of a loan up to Rs. Forty lakhs (up to Rs. 50 lakhs in some selected areas) without any security.
- Tenure ranging from 12-48 months.
- Attractive Rate of Interest @10.45% p.a.
- No Foreclosure/part Closure shall be permitted during the first six months of the limit setting.
- Review your Business Growth Loan eligibility online or at any office in just 60 seconds.
- Loans will be paid based on the previous payment of home loans, auto loans, and credit cards.
Business Loan in Mumbai Interest Rates
To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates
Business Loan in Mumbai Documents Required
Salaried Customers:
- PAN Card of the person availing the Business loan.
- Residence Proof required (Owned/Rented/Company provided) for loans.
- Passport-sized photos–2.
- Identity proof needed by the Business loan Mumbai (Aadhar card/driving license/Voter Id)
- Payslips of the last three months of the candidate is also required.
- Bank statements for the previous 6 months of the person who is asking for a loan.
*NOTE: In the case of rented houses, a rent agreement needs to be attached.
Self-Employed Customers:
- Aadhar Card
- Residence verification( Current and Permanent) is needed for applying.
- Two passport-sized photos of the person applying for a loan.
- All financial documents are needed of the customer(Balance Sheet, P&L Statement as well as ITR files).
- PAN Card is compulsory for applying.
Business Loan in Mumbai Eligibility Criteria
Salaried Applicants
- The job position of the applicant should also be mentioned.
- A borrower should also have the least income of INR 25,000 per month.
- The least age of the person should be 21 years and a maximum of 60 years.
- Work experience of the three years and the payroll should also be received in their accounts only.
- Candidates must have an excellent credit history.
Self-Employed Applicants
- The credit score of the individual candidates should be fair, and there should not be any debt or dues left of the individual.
- The annual income of the applicants should be at least Rs 2.5 lakh.
- The whole documentation method of the personal loan is that the applicants have to present their financial and bank statements of the previous three months.
- The least age for an independent person should be 25 years.
- The applicants asking for the personal loan should need to have a file of ITR for the last three years.
- The company should be running for the prior three years continuously.
How to Apply for Business Loan in Mumbai?
- Visit our website Dialabank
- Go to the loan part on the page and click on the personal loan section.
- The applicant will address you all the details of the Business loan where they can choose their favoured city, according to their needs.
- For more information on Business loans and free administration, you may call on 9878981166.
Processing Fees / Prepayment Charges on Business Loan in Mumbai
Every Bank and NBFC charges a fee for processing your loan request. Processing Fees charged by the Bank or NBFCs on Business Loan Mumbai is up to 2.50% of the loan amount.
If you close your loan before the accepted loan tenure in the documents, every lending company charges you a penal prepayment fee for the loan period agreed beforehand. In most cases, you cannot settle your loan before 12 months from the date of availing the loan. Post that the charges also vary depending on how many years the credit has been done. The Prepayment charges are mentioned below:
- 07-24 Months – 4% of Principal Outstanding
- 25-36 Months – 3% of Principal Outstanding
- >36 Months – 2% of Principal Outstanding
Business Loan EMI Calculator Mumbai
CIBIL Score Required for Business Loan Mumbai
Every lending organization has its criteria for the minimum CIBIL score required for processing Business Loan demand in Mumbai. Most institutions require the least score of CIBIL of 750 to process your loan application.
The organizations don’t just look at the overall score but also the detailed response on the previous loans taken. This includes details on the type of loan taken and the sum borrowed. Any delayed payments for past loans can act as a hindrance to your availing of a fresh loan.
Business Loan Mumbai Agents/Broker
Dialabank is the best agent for availing Business Loan in Mumbai.
You can simply apply online at Dialabank or give a bell at 9878981166.
Business Loan Mumbai Contact Number
Call 9878981166 and get instant help and approval for availing of Business Loan Mumbai.
Pre Calculated EMI Table for Business Loan Mumbai
About Mumbai
Mumbai (formerly called Bombay) is a densely populated city on India’s west coast. A financial centre, it’s India’s largest city.
Major localities in Mumbai for availing Business Loan
| Business Loan Nagpur | Business Loan Latur |
| Business Loan Nashik | Business Loan Kolhapur |
| Business Loan Nanded | Business Loan Jalna |
| Business Loan Pune | Business Loan Jalgaon |
