Mudra Loan in Mumbai
Explore Mudra Loan options in Mumbai under the Pradhan Mantri MUDRA Yojana (PMMY). Get collateral-free loans for small businesses with minimal documentation and flexible terms.
Understanding of Mudra Loan in Mumbai
Mumbai, the financial capital of India, is home to countless small and micro enterprises that form the backbone of the city’s economy. To support these businesses, the Government of India offers the Pradhan Mantri MUDRA Yojana (PMMY), which provides collateral-free Mudra Loans. These loans are designed to help entrepreneurs across trading, manufacturing, and services sectors access affordable credit and grow sustainably. Check your business loan eligibility to explore other financing options that may be available to you.
Types of Mudra Loans available in Mumbai
Explore the different categories of Mudra Loans available in Mumbai to support micro and small enterprises at various stages of growth.
- Shishu Mudra Loan – Ideal for startups and early-stage businesses. Loan amount up to Rs. 50,000
- Kishor Mudra Loan – Designed for businesses in the growth phase. Loan amount from Rs. 50,001 to Rs. 5 lakhs
- Tarun Mudra Loan – Suitable for established businesses. Loan amount from Rs. 5 lakhs to Rs. 10 lakhs
Eligibility criteria for Mudra Loan in Mumbai
To avail a Mudra Loan in Mumbai, applicants must meet certain eligibility conditions. These ensure the loan is provided to genuine micro and small business owners.
- Must be an Indian citizen
- Should own a non-farm, non-corporate micro or small business
- Business should operate in trading, manufacturing, or services
- Must have a viable business plan
Learn more about the eligibility criteria for mudra loan
Documents required for Mudra Loan in Mumbai
Lenders request a set of documents to validate the applicant's identity, business operations, and financial status.
- Proof of identity: Aadhaar card, PAN card, Voter ID, driving licence, or passport.
- Proof of address: Aadhaar card, Voter ID, driving licence, passport, or recent utility bills.
- Proof of business: Ownership documents, business address proof, or establishment certificate.
- Additional documents: Caste certificate (for reserved categories), bank statements, income certificates, IT returns, or Form 16 verified by a chartered accountant.
Check the full list of documents required for mudra loan
Interest rates and charges for Mudra Loan in Mumbai
Mudra Loans come with competitive interest rates and minimal charges, making them an affordable credit option for small business owners.
- Interest rates typically start from 9.30% per annum
- No collateral required
- Processing fees may vary by lender
- Tenure of up to 7 years
View the latest Mudra Loan interest rate.
How to apply for Mudra Loan in Mumbai?
Getting a Mudra Loan in Mumbai is a straightforward process. Follow these steps to apply online or through partner banks:
- Visit the official portal or a participating bank's website
- Register as a new user
- Fill in the loan application form with business and financial details
- Upload the required documents
- Submit the application and track status online
Learn more about the Mudra Loan application process. Check your pre-approved business loan offer for instant funding alternatives that match your eligibility.
Benefits of Mudra Loan for Mumbai businesses
Mudra Loans offer various advantages for entrepreneurs and small businesses in Mumbai.
- Collateral-free loans up to Rs. 10 lakhs
- Minimal documentation
- Quick loan processing and disbursal
- Government-backed financial support
- Supports businesses in manufacturing, trading, and services sectors
Why choose Bajaj Finserv for Mudra Loan in Mumbai?
Bajaj Finserv simplifies the Mudra Loan experience with a digital-first approach and customer-centric services.
- Easy and fast online application
- Transparent loan terms and conditions
- Pre-approved loan offers for eligible users
- Dedicated customer support
- Reliable and trusted financial partner
Difference between Mudra Loan and Business Loan in Mumbai
Compare Mudra Loans with traditional business loans to choose the right solution for your financial needs in Mumbai.
| Feature | Mudra loan | Business loan |
|---|---|---|
| Loan Amount | Rs. 10,000 to Rs. 10 lakhs | Rs. 2 lakhs to Rs. 80 lakhs |
| Target Audience | Micro and small businesses | SMEs, startups, and expanding enterprises |
| Categories | Shishu, Kishor, Tarun | Term Loan, Flexi Term Loan, Hybrid Loan |
| Collateral | Not required | Usually not required |
| Interest Rate | Starts from 9.30% p.a. | Starts from 14% p.a. |
| Repayment Tenure | Up to 7 years | Up to 8 years |
Frequently Asked Questions
Applicants can get up to Rs. 80 lakh under Bajaj Finserv Business Loan, subject to eligibility and document verification.
A preferred CIBIL score is 685 or above. Applicants with lower scores may still apply but may face stricter scrutiny or higher interest rates.
No, Mudra Loans are collateral-free, making them accessible to a wide range of businesses.
If all documents are accurate and complete, the loan amount can be disbursed within 48 hours.
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