MSME Credit Scheme
loans for msme at low interest to fuel your business
Our exclusive and flagship credit scheme for Micro Small and Medium Enterprise (MSME) entails providing lower rate of interest for growing business units and offering them access to powerful banking services at a low rate of interest and quick processing and servicing both online and offline.
About our MSME Lending Product:
Current Buzzword in Banking Industry is “MSME Financing” after Government of India’s initiatives to step up credit flow to Small and Medium Enterprises through bringing out a new legislation named Micro, Small and Medium Enterprise Development (MSMED) Act 2006. Unlike large industries, which have access to various domestic and international sources of finance, MSMEs are dependent largely on Bank Credit. The banks are trying to outwit each other through aggressive promotional strategies to create a niche segment in MSME financing.
Salient features of MSME Credit Scheme:
- To provide Bank Credit to MSME at liberalized terms towards working capital and term loan for acquiring fixed assets.
- All MSME units run by Individuals/HUFs, Proprietary concerns, Partnership Firms, Limited Companies are eligible.
- To provide All Type of Fund Based & Non-Fund Based Limits, to provide Bank Credit to Micro, Small & Medium Enterprises (MSMEs) at concessional Rate of Interest towards working capital and term loan for acquiring any fixed assets for business development purpose.
- Obtention of collateral security is waived provided the said limit is eligible and covered under Credit Guarantee Fund Scheme (CGFSI) for SSI.
All the Terms and Conditions of this scheme are subject to change and sanctioning of the loans is at the sole discretion of the Bank. Goods & Service Tax (GST) on All Service Charges extra wherever applicable.
Download the Complete Scheme Document:
MCLR Rates of Interest:
Click the link, Get the MCLR Rates of Interest to know more about the rates of interest charged for our MSME Loan Schemes.
