Secure Your Business Growth with MSME Loan

Bank Name	Min Interest Rate	Processing Fee	Max Tenure (Month)	Insurance Cover Fees	Forclosure Charge
HDFC Bank Ltd	10.75%	1%	12	1.50% - 2.00%	1%
Small Industries Development Bank of India (SIDBI)	8.50%	1%	84	1.50% - 2.00%	1%
Bank of Baroda	9.85%	1%	12	1.50% - 2.00%	1%
Axis Bank Ltd.	8.00%	1%	12	1.50% - 2.00%	1%
Standard Chartered Bank	13.50%	1%	12	1.50% - 2.00%	1%
Bank of India	8.00%	1%	12	1.50% - 2.00%	1%
Bank of Maharashtra	8.50%	1%	12	1.50%- 2.00%	1%
Canara Bank	8.50%	1%	12	1.50% - 2.00%	1%
Central Bank of India	8.00%	1%	12	1.50%-2.00%	1%
Indian Bank	8.00%	1%	12	1.50% - 2.00%	1%
Indian Overseas Bank	8.00%	1%	12	1.50% - 2.00%	1%
Punjab & Sind Bank	8.50%	1%	12	1.50% - 2.00%	1%
Punjab National Bank	8.50%	1%	12	1.50% - 2.00%	1%
State Bank of India	8.00%	1%	12	1.50% - 2.00%	1%
UCO Bank	8.50%	1%	12	1.50%-2.00%	1%
Union Bank of India	8.50%	1%	12	1.50% - 2.00%	1%
United Bank of India	8.00%	1%	12	1.50% - 2.00%	1%

Apply Now EMI Calculator Eligibility Criteria Documents Check List FAQs

Loan Amount is:

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₹ 10L

₹ 50L

₹ 1C

₹ 1.5C

₹ 2C

₹ 2.5C

₹ 3C

Interest Rate is:

10%

15%

20%

25%

30%

Loan Tenure is:

Yr Mo

Loan EMI

₹

Total Interest

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Total Payment

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// `); // setTimeout(() => { // w.print(); // }, 1000) // w.document.close(); // return false; // }); // share_doc.addEventListener('click', () => { // share_url.style.display = 'block'; // }); function drawChartCustom(one, selElem) { var data = google.visualization.arrayToDataTable([ ['Task', 'Hours per Day'], ['Principal', 100 - one], ['Interest', one], ]); // Optional; add a title and set the width and height of the chart var options = { 'title': 'Total Payment Break-up', 'width': 200, 'height': 175 }; // Display the chart inside the

element with id="piechart" document.getElementById(selElem).innerHTML = ''; var chart = new google.visualization.PieChart(document.getElementById(selElem)); chart.draw(data, options); // console.log('done'); } const calculate_pl = () => { const interest = parseFloat(pl_loaninterest.value) / 1200; const loantenure = pl_loanyears.checked ? 'Y' : 'M'; const months = loantenure === "M" ? 1 : 12; // let term = loan.loanDuration * months; let term = pl_loanterm.value * months; const top = Math.pow(1 + interest, term); const bottom = top - 1; const ratio = top / bottom; const loanamountValue = pl_loanamount.value.replace(/[^\d\.]/g, ""); const EMI = loanamountValue * interest * ratio; const Total = EMI * term; const EMI_data = { EMI: EMI.toFixed(0), Total: Total.toFixed(0), total_interest: (Total.toFixed(0) - loanamountValue).toFixed(0), }; pl_k_emi.innerText = EMI_data.EMI; pl_k_pay.innerText = EMI_data.Total; pl_k_int.innerText = EMI_data.total_interest; const noOfMonths = parseInt(term); let listHtml = ``; let pr_val = loanamountValue; for (let i = 0; i < noOfMonths; i++) { const int_amt = pr_val * (parseFloat(pl_loaninterest.value) / 100) / 12; const pri_amt = EMI - int_amt; const bal_amt = pr_val - pri_amt; listHtml += `${i+1}₹ ${pri_amt.toFixed(0)}₹ ${int_amt.toFixed(0)}₹ ${EMI.toFixed(0)}₹ ${bal_amt < 0 ? 0 : bal_amt.toFixed(0)}`; pr_val = pr_val - pri_amt; } pl_emi_list.innerHTML = listHtml; // console.log("EMI", EMI_data); // const a = EMI_data.Total; // const b = EMI_data.total_interest; // const c = parseInt((b / a) * 100); // drawChart(c); return EMI_data; }; const calculate_cl = () => { const interest = parseFloat(cl_loaninterest.value) / 1200; const loantenure = cl_loanyears.checked ? 'Y' : 'M'; const months = loantenure === "M" ? 1 : 12; // let term = loan.loanDuration * months; let term = cl_loanterm.value * months; const top = Math.pow(1 + interest, term); const bottom = top - 1; const ratio = top / bottom; const loanamountValue = cl_loanamount.value.replace(/[^\d\.]/g, ""); const EMI = loanamountValue * interest * ratio; const Total = EMI * term; const EMI_data = { EMI: EMI.toFixed(0), Total: Total.toFixed(0), total_interest: (Total.toFixed(0) - loanamountValue).toFixed(0), }; cl_k_emi.innerText = EMI_data.EMI; cl_k_pay.innerText = EMI_data.Total; cl_k_int.innerText = EMI_data.total_interest; const noOfMonths = parseInt(term); let listHtml = ``; let pr_val = loanamountValue; for (let i = 0; i < noOfMonths; i++) { const int_amt = pr_val * (parseFloat(cl_loaninterest.value) / 100) / 12; const pri_amt = EMI - int_amt; const bal_amt = pr_val - pri_amt; listHtml += `${i+1}₹ ${pri_amt.toFixed(0)}₹ ${int_amt.toFixed(0)}₹ ${EMI.toFixed(0)}₹ ${bal_amt < 0 ? 0 : bal_amt.toFixed(0)}`; pr_val = pr_val - pri_amt; } cl_emi_list.innerHTML = listHtml; // console.log("EMI", EMI_data); // const a = EMI_data.Total; // const b = EMI_data.total_interest; // const c = parseInt((b / a) * 100); // drawChart(c); return EMI_data; }; const updatePL = () => { const loanObj = calculate_pl(); // console.log('loanObj', loanObj); const total = loanObj.Total; const interest = loanObj.total_interest; const intPer = parseInt((interest / total) * 100); // console.log('intPer', intPer); drawChartCustom(intPer, 'pl_piechart'); }; const updateCL = () => { const loanObj = calculate_cl(); // console.log('loanObj', loanObj); const total = loanObj.Total; const interest = loanObj.total_interest; const intPer = parseInt((interest / total) * 100); // console.log('intPer', intPer); drawChartCustom(intPer, 'cl_piechart'); }; // pl_loanamount.addEventListener("keyup", updatePL); // pl_loaninterest.addEventListener("keyup", updatePL); // pl_loanterm.addEventListener("keyup", updatePL); // pl_loanyears.addEventListener("change", updatePL); // pl_loanmonths.addEventListener("change", updatePL); // cl_loanamount.addEventListener("keyup", updateCL); // cl_loaninterest.addEventListener("keyup", updateCL); // cl_loanterm.addEventListener("keyup", updateCL); // cl_loanyears.addEventListener("change", updateCL); // cl_loanmonths.addEventListener("change", updateCL);

Eligibility Criteria

What you mean by MSME loan Eligibility Criteria?

MSME Loan for new business & existing business, you can avail this type of loan for development of infrastructure, to meet day to day operational capital, purchasing new equipment & machinery. The best part of the loan is you don’t require to pledge any collateral or assets.

MSME loan Eligibility Criteria

Eligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover, total work experience & Creditworthiness ...etc.

Eligibility Criteria

• Age Limit of Individuals - 22 to 60 years
• Individuals, Proprietary concerns, Partnership firms, Companies (Private & Public), Trusts (Private Trusts), Limited Liability Partnerships
• Minimum 2 years of business continuity
• Minimum 1 years of audit by registered chartered accountant
• Minimum turnover of business should be 90,000

Note: - It would range from minimum 5 Lakh to maximum 1 Cr.

What are the factors generally affecting MSME loan Eligibility Criteria?

There are top factors that generally affects construction loan eligibility criteria as given below: -

Lack of good credit report: - Your past financial behavior going to determine your future financial stability. Therefore, if in past years missed to do payments on timely manner, then probably you will looser the chances of getting loan.

Bad cash flow: - Lender want to check know about your company cash flow management, whether you are managing well or not, if it seems to be bad cash flow then possibility of chances gets lower.

What are the ways to increase MSME loan eligibility?

To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.

Maintain good record credit: - Lender usually check whether you are maintaining good credit by making payments on time & avoiding having multiple credit cards, if you are practicing these methods to maintain good record of credit, it will enhance your eligibility towards getting a loan.

Do paying tax on time: - This is one of the major methods to increase eligibility, take initiate to do paying tax on time to build credit score improve as well as lender confidence level increases.

Documents Required

INDIVIDUAL

PHOTOGRAPHS 2
PAN CARD COPY
AADHAR CARD + PASSPORT
ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
PROCESSING FEE CHEQUE IN FAVOUR OF BANK
MACHINE QUOTATION
ORDER IN HAND
LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER

PROP FIRM

PHOTOGRAPH BOTH
PAN CARD CLEAR COPY PROPRIETOR
ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
LAST 1 YEAR GST RETURN COPY
FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
PROVISIONAL FINANCIAL AY 2019-20
BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS WITH CHAIN SANCTION MAP

PARTNERSHIP FIRM

PHOTOGRAPH PARTNERS
PAN CARD - COMPANY, ALL PARTNERS
ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
PARTNERSHIP DEED COPY
GST CERTIFICATE
GST RETURN LAST 1 YEARS
3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
PROVISIONAL FINANCIAL AY 2019-20
3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
ALL PARTNER SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH MAP
ALL DIRECTORS PHOTOGRAPH
CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
ADDRESS PROOF – COMPANY AND DIRECTORS
LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
1 YEAR GST RETURNS
ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP

PVT.LTD

AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
ALL DIRECTORS PHOTOGRAPH
CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
ADDRESS PROOF – COMPANY AND DIRECTORS
LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
1 YEAR GST RETURNS
ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP

FAQs

Frequently asked questions (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.

Is there any turnover limit set for msme to get loan?

Yes, enterprises to enterprises it may vary as below given: -

For micro enterprises turnover limit is upto 5 Crore
For small enterprises turnover limit is upto 25 Crore
For medium enterprises turnover limit is upto 250 Crore

How to get msme loan for new business?

You are required to request loan application form it can be done online & offline both, Fill the required details with correct values, upload online or submit offline with form to get approval & sanction quickly.

Does my industry come under msme business loan sector?

MSME Loan is provided to those businesses which come under manufacturing & services industries. Therefore, make sure your business is involved in such industries.

What are the benefits of getting msme loan from government?

There are various benefits offered by the government to msme business loan borrowers.

It provides multiple subsidy beneficial schemes to micro small medium enterprises.

Which bank is best for msme loan?

Almost all government banks have similar rates & terms which considered to be the best banks for msme business loan.

What is msme loan?

This type of credit facility comes under unsecured category & offered by several financial institutions to MSME Sector business to meet specific requirements.

Who is eligible for msme loan?

The applicant's age should be between 22 - 60 years and business existence should be at least 1 year old with a minimum annual turnover should be 24 lacs.

Personal Need Loan Products

Secured Loan Products

Unsecured Loan Products

Project Loan Products

MSME Loan @9.75% Onwards

Project Cost Detail

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Maximum Loan Amount:

Minimum Interest Rate: 7.50%

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MSME Loan