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If you are a business owner belonging to a minority group, you can avail a business loan for minorities to expand your business. Business loans for minority groups are essentially offered at concessional interest rates as well as longer repayment tenures. You can avail a business loan for minority in India if you are a Sikh, Buddhist, Zoroastrian, Muslim, Christian or a Jain as per the MC (National Commission for Minorities) Act, 1992. Read on to know more about business loans for minorities.

Business Loan for Minority Interest Rates

The interest rates at which you can avail a business loan for the member of a minority group are as follows

Minority Loan Type

Credit Line

Maximum Available Limit (₹)

Rate of interest (p.a.)

Term Loan

Credit Line-1

20 Lakhs

6% (for female applicants)

Credit Line-2

30 Lakhs


8% (for male applicants)

Virasat Scheme


10 Lakhs


5% for men and 4% for women.

Micro Finance Loan

Credit Line-1

1.5 Lakhs


Up to 8% (for female applicants)

Credit Line-2

1.5 Lakhs

10% (for male applicants)


Disclaimer: The rates mentioned above are subject to change. Also, being a part of a minority group does not guarantee a minority business loan. A minority business loan will be granted to you on the basis of your funding requirements as well as your monthly income.

Types of Minority Business Loans Available in India

The types of minority business loan options that are available in India are as follows:

1. Term Loan

A minority business loan is given to an individual through State Channelising Agencies (SCAs) under this scheme. The interest rate varies for men and women. A maximum of ₹30 Lakhs can be availed through this facility to finance your business if you are classified as someone who can get Credit Line 2. On the contrary, if you are classified as a member of a minority group eligible to get the Credit Line 1, you can get upto ₹20 Lakhs. If you are a woman, you must pay a maximum of 6% per annum as interest rate, whereas as a man, you will have to pay 8% per annum as interest. You can even avail a 6-month moratorium period and a repayment tenure of up to 5 years.

2. Virasat Scheme

If you are an artisan who wants to purchase tools or machinery to carry out your business operations and are in need of either working or fixed capital, you can easily avail up to ₹10 Lakhs as a minority small business loan under this scheme. Men will need to pay 5% interest, whereas as a women will need to pay only 4% as interest. Additionally, you can avail a moratorium period of up to 6 months and repayment tenure of upto 5 years.

3. Micro-Finance

If you are a business owner who lives in a village, you can avail the micro finance minority business loan option. Through this scheme, you can avail funding of up to ₹1.5 lakh at an interest rate of up to 10% per annum. If you are a woman, you can avail the same at 8% per annum.

How to Apply for Minority Business Loan on Bajaj MARKETS?

Applying for a minority business loan on Bajaj MARKETS is really simple. All you will need to do is just follow these steps:

  • Online Form Filling: First, help yourself to the application page and then fill in your personal and business details.

  • Select Your Lending Partner: Next, select a minority business loan option from the list of loan offers that you will see.

  • Specify Loan Details: After that, you will need to choose the loan amount of your choice as well as the tenure of repayment.

  • Required Documents: Post, you must upload the scanned copies of the documents that will be required.

  • Approval and Disbursal: Finally, after submitting your application, your documents will be verified. Once that is done successfully, the money will be credited into your account within a matter of a few days.