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Learn about the latest MSME loan interest rates and apply now!
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 |
14% |
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.
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
The eligibility criteria for MSME loans may vary from bank to bank. Generally, Indian citizens between the ages of 24 and 70 are eligible. Applicants should be self-employed professionals or non-professionals, with limited liability partnerships, private companies, and partnerships also potentially qualifying. A minimum business vintage of 3 years is typically required. A strong CIBIL score can further improve eligibility and help secure better loan terms.
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
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.
