Get up to Rs. 50 lakh digital business loans in Mumbai with competitive interest rates. You can take MSME loans & Working Capital loans to grow your business in the most popular city Mumbai.
24hrLoan gives you the best interest rate from 12% to 16.75% per annum. The loan will disburse within 72 hours.
Digital Business Loans in Mumbai
| Company | LendingKart |
| Interest Rates | 12% to 16.75% p.a. |
| Processing Fees | 2-3% of the loan amount |
| Loan Tenure | 12 months to 36 months |
| CIBIL Score | -1 / 700+ |
| Pre-closure Charges | NIL |
| Loan Amount | Rs. 50,000 – Rs. 50 lakhs |
| Eligible For | Self-Employed Business |
Benefits of Digital Business Loans in Mumbai
- Not required to visit brunch
- Get a loan up to Rs. 50 lakhs
- Fast disbursement within 72 hours
- 100% digital process
- Minimal documentation process
- Competitive interest rate
- 2% to 3% processing charge
Also Read: NeoGrowth Business Loan
Eligibility Criteria for Business Loans in Mumbai
- Indian Citizenship required
- Minimum age of 21 years to 60 years required
- Businesses should be Proprietors, Private limited companies, Public limited companies, and partnership firms.
- Annual Turn Over 12 lakh per annum required
- Business should be 1 year old.
- No defaults on the previous loan
Documents Required for Business Loan in Mumbai
You should check out the following documents to apply for a digital business loan in the Mumbai area:
- Trade License
- ITR File / MSME Certificate
- Pan Card (Identity Proof)
- Aadhaar Card (Address Proof)
- Residential Proof (Electricity bill/ Gas bill/ Water bill)
- Recent 1-year bank statement pdf
- Applicant cancel cheque
Also Read: IIFL Business Loan
Interest Rate & Other Charges
| Processing Fees | 2-3% of the loan amount |
| Interest Rate | 12% to 16.75% p.a. |
| Pre-closure Charges | NIL |
| Late Penalty Fees | Rs. 300 and 36% on the overdue amount. |
How to Apply for Digital Business Loan in Mumbai
Step 1: Click on the “LendingKart Business Loan” button.
Step 2: Fill all the forms carefully
Step 3: Customer representative call you for documents
Step 4: After a successful application, the lender will check eligibility.
Step 5: If you are eligible, the bank will verify your business & get the loan.
FAQs on Digital Business Loans in Mumbai
How many business loan amounts are available in Mumbai City?
You may get up to Rs. 50 lakhs digital business loan in Mumbai city.
What are the eligibility criteria to get the loan?
A minimum of 12 lakhs transaction is required within 1 year.
Can I apply with a low credit score?
You can apply a minimum 670+ credit score if you have an annual 12 lakh turnover on your bank statement.
Can I apply with a minus credit score?
Yes. You are eligible to apply with a minus credit score.