MSME Loan Overview
|
Interest Rate |
7.65% p.a. onwards |
|
Loan Amount |
Rs.50,000 onwards |
|
Loan Tenure |
Up to 15 years |
MSME Loans are very crucial for the development of the MSME sector in India. Most of the banks and NBFCs provide MSME loans to Micro, Small and Medium Enterprises. The interest rates on the MSME loans range from 8.50% to 17% depending on the business profile and internal policies of the lender.
The best bank for MSME loans is the one that caters to your requirement at lower interest rates. It purely depends on your business credit profile and the lender’s policies.
The following are the interest rates offered on MSME loans by the top lenders.
Leading Banks and their MSME Loan Interest Rates
|
Bank Name |
Interest Rate |
|
At the discretion of the bank |
|
|
From 10.70% per annum |
|
|
At the discretion of the bank |
|
|
State Bank of India MSME Loan |
7.65 percent per annum onwards |
|
Syndicate Bank MSME Loan |
At the discretion of the bank |
|
At the discretion of the bank |
|
|
UCO Bank MSME Loan |
8.85% per annum onwards |
|
United Bank of India MSME Loan |
10.25% to 16.25% |
The above interest rates mentioned are indicative, it may vary as per the lenders’ policies. If you are looking for a business loan, you can check your eligibility at CreditMantri with just a few clicks.