Mumbai, the financial capital of India, is the epicentre of all the economic activities in the country, thanks to the presence of prominent financial institutions including the Reserve Bank of India and the Bombay Stock Exchange. Mumbai is also the costliest city in the country in terms of the cost of living. Therefore, if you wish to build your own start-up in the country’s financial capital, apart from the requisite skill set, you also need an adequate supply of funds. A business loan from Bajaj Markets can serve the purpose. You can easily avail a business loan at competitive interest rates at Bajaj Markets from any of our partner lenders. The application process is also simple and hassle-free and requires minimal documentation.
Quick Online Processing: You can apply for a business loan online on our platform and get it approved in just 2 minutes. The online process not only saves time but also ensures that your request is processed instantly and the amount is disbursed into your bank account within 24 hours of approval.
Zero Collateral: Some financial institutions demand collateral against a business loan. However, business loans at Bajaj Markets are unsecured and do not require the applicant to pledge any collateral.
High Loan Limit: Depending on the planned expansion scale, the funds required for a particular business may vary. Therefore, the business loans offered at Bajaj Marketscome with a high loan limit of ₹50 Lakhs.
Long Repayment Tenure: It is necessary to have a comfortable loan repayment tenure to make sure that you do not default on your EMIs. At Bajaj Markets, you can enjoy a flexible repayment tenure of 12-60 months on your business loan.
You can avail a business loan in Mumbai from Bajaj Markets at affordable rates of interest. Our lending partners include:
You may refer to the table below to get an estimate of the interest rates and processing fees charged by our various lending partners on business loans in Mumbai:
18% p.a. onwards
15% p.a. onwards
12% p.a. onwards
14% p.a. onwards
18% p.a. onwards
Disclaimer: Interest rates and processing fees are subject to change. Please check with the lender before applying.
It is important to make sure that you meet the business loan eligibility criteria of the concerned lender. While every lender has a different set of criteria, some of the criteria that you are required to fulfil in case of most lenders are as follows:
You must be a citizen of India
You must be self-employed
Your age must be in the range of 25-60 years
You must have business experience of at least 3 years
You need to furnish the following set of documents while applying for a business loan in Mumbai:
Identity Proof: Aadhaar card, passport, voter ID, etc.
Address Proof: Electricity bill, telephone bill, passport, Aadhaar card, driving licence, etc.
Business Proof: Certificate of business existence, Income Tax filings for the previous financial year, profit and loss statements for the past 3 years, etc.
Photographs: 2 passport-size photographs
You may follow the steps given below to avail a business loan in Mumbai through Bajaj Markets:
Step 1: First, head on to the Bajaj Markets website. Seek out the ‘Business Loan’ option under the ‘Loans’ tab. Click on ‘Apply Now’ to proceed to fill out an online form.
Step 2: Fill out the form with required basic information such as your contact details, personal details, as well as business details.
Step 3: The next step is to fill out the specific details of your business loan, including your choice of tenure and the desired loan amount.
Step 4: Once verified, the business loan can be approved in just 2 minutes and the loan amount would be disbursed to your bank account within 24 hours
Loans involve a risk of loss of collateral in case you fail to repay the loan amount. A business loan offers financial assistance for the growth and expansion of the business. You must ensure that the sanctioned loan amount is within your repayment capabilities to avoid loss of collateral.
After the verification of the information and completion of paperwork between the lending institution and borrower, it generally takes 24-72 hours for the fund disbursal.
You can check your business loan eligibility via an online eligibility calculator. Online eligibility calculator takes various factors into consideration like turnover, loan amount, geographical location, etc. to determine your eligibility against the requested loan amount.
A CIBIL score of 750 or above is considered ideal for a hassle-free loan approval.