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You can get an MSME loan at attractive interest rates. Here is an overview of rates set by some leading financial institutions that offer business loans to MSMEs on Bajaj Markets:

Lenders

Starting Interest Rate (p.a.)

Ambit Finvest

20.00%

AYE Finance

29.50%

Bajaj Finance

9.75%

Credit Saison

22.00%

FlexiLoans

18% (reducing)

IIFL Finance

16.50%

InCred Finance

24.00%

Indifi

22.00%

KreditBee

14.00%

Lendingkart

19.20%

Protium

20.50%

U GRO Capital (Line of Credit)

26.00%

*Disclaimer: The mentioned rates are subject to change at the lender's discretion.

How to Calculate Interest on MSME Loan?

Loan Amount
Tenure
Months
Rate of Interest
Business Loan
Your Monthly Business Loan EMI
Principal Amount
Total Interest
Total Amount Payable
Amortization Schedule
Download Amortization Schedule Download
Expand Amortization Schedule
Year EMI Principal Interest Balance

Manual calculation of a monthly instalment can be a time-consuming process. As such, the MSME Loan EMI Calculator becomes a better and simpler alternative. It helps you get accurate results within minutes. You can calculate the EMI for an MSME loan by entering the following details into the calculator:

  • Principal

  • Rate of interest

  • Tenure

 

Try different combinations of loan terms to find an offer that best suits your budget.

Frequently Asked Questions

What are the eligibility criteria for getting an MSME loan?

The eligibility criteria for MSME loans vary from bank to bank. Usually, Indian citizens between 24 and 70 years of age are eligible. They should be either self-employed professionals or non-professionals. Limited liability partnerships, private companies and partnerships may also be eligible. They are typically required to have a minimum business vintage of 3 years.

Does the MSME sector fall under priority sector lending?

Yes, the MSME sector comes under the priority sector. RBI urges banks to allocate funds for lending to essential economic areas deemed priority sectors. 8 major sectors have been identified, which are listed below:

  • Agriculture

  • Micro, Small and Medium Enterprises (MSME)

  • Export Credit 

  • Education 

  • Housing 

  • Social Infrastructure 

  • Renewable Energy 

  • Others

Do I need to provide collateral for getting an MSME loan?

No, you may not have to provide collateral for MSME loans. These loans are generally collateral-free and are provided based on your credit history.

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