MSME Loans
- Individual unsecured business loans to the MSME segment to cover their Capital and Working Capital Needs.
MSME Loans
These are individual unsecured business loans to the MSME segment, primarily targeting rural, semi-urban & Urban customers.
Benefits
Customized product
Service at the door step
Tenure Maximum 36 months
Repayment frequency as desired (weekly, fortnightly & Monthly)
Interest Rates
| Minimum | Mean | Maximum |
|---|---|---|
| 18.00 % p.a. | 18.00 % p.a. | 18.00 % p.a. |
Note : Interest rates offered may differ from product variant/scheme selected by the customers and may differ from BC to BC.
Fees & Charges
Processing Fee - Up to 1.50% of loan amount plus applicable taxes. Processing fee is applicable only for loans above Rs.25000.
Stamp Duty – Stamp duty charged at actuals. Depending on the state rules, stamp duty will be paid by the customer.
Credit Shield Insurance to be charged at actuals and to be paid by the customer if opted. Insurance is optional to the customer.
Note : Charges may differ from product variant/scheme selected by the customers and may differ from BC to BC.
Eligibility
- Individual (18-65 years).
- Have Officially Valid Documents as KYC.
- Should be doing the activity for which loan is being applied
- Residing within the operational area of Bank though BC.
*Customer final loan eligibility will be determined by the banks loan eligibility criteria set for the specific product.
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