Micro-Small-Enterprises-Loan
MSME loans are unsecured loans provided to individuals or business for meeting any personal or business financial need/purposes. The term MSME stands for Micro and Small, Enterprise Loans.
Who can Avail Loan !
Self-employed individuals: small traders, vegetable vendors, tiffin centre owners, bakeries, cement and hardware shop owners, brick-making unit owners, flower vendoretc
Skilled labourers : carpenters, masons, electricians, painters, plumbers, mechanics etc
Small-scale farmers
Small scale manufacturers – Gold Smith, Garment manufacturing, plastic products, engineering items, Metal and steel, fabrication unit etc
Service providers – Beauty parlor, photographers, tailor, barber, butcher, commission agents etc
Certain individuals should not be considered for loans, including those with political influence, involvement in criminal cases, law enforcement, or the media, as well as previous loan defaulters. Additionally, applicants with significant health issues should be carefully evaluated before granting loans.
| Lending Model | Individual or with co-borrowers |
| Loan Amount | Up to Rs. 1,00,000 |
| Tenure | 03 – 15 months |
| Repayment Frequency | Monthly/Fortnightly/Weekly |
| Rate of Interest (Fixed interest Method) | 24% p.a to 36% p.a |
| Processing Fee | Flat 2.36% (incl 18% GST) |
Eligibility
The borrower should be an Indian resident and citizen with age between 21 to 60
The borrower shall utilize the funds only for his business purpose
The borrower should not have any outstanding loans from any other lender
Loan repayment obligation of borrower should not exceed 50% of monthly household income
Loan is given to a borrower having annual household Income uptoRs 3,00,000/-.
All the loans are mandatorily to be verified by Credit bureau before disbursement.
Terms & Conditions
Processing fee charged at the time of disbursement, will be reduced from loan amount
Minimum Loan period is 3 months, before which repayment cannot be made.
After 3 Months, prepayment of loan is allowed without penalty
Loan is without collateral.
FAQ
What Legal papers needed for opening insurance policy?
Insurance plans will help to pay for medical emergencies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family.Insurance plans will help to pay for medical emerg encies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family
How EFT is used for your premium payment method?
Insurance plans will help to pay for medical emergencies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family.Insurance plans will help to pay for medical emerg encies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family
What is the age limit for elderly care policy?
Insurance plans will help to pay for medical emergencies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family.Insurance plans will help to pay for medical emerg encies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family
How to claim a policy amount from you?
Insurance plans will help to pay for medical emergencies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family.Insurance plans will help to pay for medical emerg encies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family