RBL Bank Business Loan - Eligibility & Documentation

Eligibility & Loan Criteria
Business Loans can be availed by self-employed individuals, self-employed professionals, sole proprietorships, partnership firms and private limited companies (including closely-held public limited companies), with a profitable business for the past 3 years.

Applicant’s age should be minimum 27 years at the time of application and maximum 65 years at loan maturity.
Minimum 5 years of experience required in the same line of business with at least 3 years of business establishment & operation in the same city. For self-employed professionals, minimum 
4 years of post-qualification experience is required.

Minimum business turnover required is Rs. 1 Crore and for Professional / Service Sector, applicant’s gross receipts should be at least Rs. 60 Lakhs.

Applicant must own either residence or office in his name or jointly with family members or resides in a residence owned by an immediate family member.

List of Documents Required
PAN Card – For Individual / Partnership Firm / Company

  • Identity Proof – Any one (e.g. Voter ID / Driving License / Passport / Aadhar Card)
  • Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease
  • Deed or Sale Agreement / Bank Statement)
  • Ownership proof of either residence or office either in the name of applicant or jointly with family members
  • Business Continuity Proof – Any one document dated 5 years old (Bank Statement / Sales Tax Challans / IT Returns / Shops & Est. Certificate / Certificate of Incorporation / Partnership Deed)
  • Letter certifying end use of the business loan funds on Business Letterhead
  • Passport Size Photographs of all applicants and co-applicants

List of Financial Documents Required

For Self-Employed Individuals / Sole Proprietorships
Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)

Bank statements from the borrower's main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet

For Self-Employed Professionals
Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)

Bank statements from the borrower's main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet

Professional Qualification Certificate and Degree Certificate for professionals. (Doctors, Architects, Chartered Accountants etc.)

For Partnership Firms / Private Limited Companies
Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)

  • Bank statements from the main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
  • Partnership Deed and partnership authority letter for partnership firms
  • Memorandum and Articles of Association and Board Resolution from the company
  • Certificate of Incorporation (COI) for companies
  • Latest shareholding patterns for Private Ltd. / Public Ltd. companies

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