Saturday, 10 October 2020

What is the difference between MSME loans and SME loans?

Features and benefits of MSME loan / SME loan

MSME loan / SME loan is designed to assist the emerging enterprise to meet its monetary needs in a well-timed and easy manner. Its most amount is Rs. 20 lakhs.

You will get an MSME mortgage with out collateral, which signifies that there isn't a must mortgage any asset for financing. With an attractive rate of interest, the mortgage gives a unique flexi loan facility and approval in simply 24 hours. Our MSME / SME business mortgage is an ideal source of convenient MSME finance for your enterprise.


What can MSME / SME loan be used for?


• Spend money on your agency's infrastructure

• meet working capital necessities

• Set up new plants and machines

• Pay overhead expenses

Key features of MSME / SME loan:


•MSME / SME Finance Rs. Up to 20 lakhs


To meet all your business wants, Rs. High loan limit of 20 lakhs.

•Fast processing


Collateral-free amount with easy on-line utility process and approval within 24 hours.

•Flexi loan facility


Borrow and prepay cash according to the quickly changing needs of your business, because it has turn into convenient to take an MSME / SME mortgage from Bajaj Finserv. For example, withdraw cash multiple times in your mortgage, and pay interest on the amount used, thus reducing your EMI by 45%. 

•Minimum documentation


MSME / SME finance has never been simpler as it's important to give only 2 paperwork to representatives, who come to your own home to take them.

•Convenient period


Period from 12 months to 60 months based on your budget.

• On-line account handling


Operate your mortgage account with just a few clicks and entry your money easily.

• Pre-approved offer


Improve your online business by raising cash from SME / MSME Bajaj Finserv. Verify your pre-approved offers to get a loan with out waiting.

SME / MSME Loan FAQ


What paperwork is required for SME / MSME loan?


Certain companies only have a few paperwork to process your SME / MSME loan-

• KYC document

• Statement of bank account

• proof of business vintage

You could be asked to submit different associated paperwork if required. .

Who're eligible for SME / MSME loan?


Candidates who've been running a enterprise for not less than three years can apply for SME / MSME mortgage. They need to be within the age group of 25 to 55 years and should submit IT (Income Tax) returns of at least 1 yr of their business. .

How can I avail of SME / MSME mortgage?


To get an SME / MSME mortgage it's important to meet the eligibility criteria and your credit score rating should be minimum 750 and your payment record shouldn't be bad. .

Who can take SME / MSME mortgage?


Firms, self-employed professionals and self-employed non-professionals such as proprietors, retailers, merchants and others can avail SME / MSME loans from a Financial corporations


What's the rate of interest for SME / MSME mortgage?


Most of the Financial Institutions SME / MSME mortgage rates of interest begin at 18%. .

Find out how to apply for the SME / MSME loan?


The method of applying for SME / MSME loan is easy.

• To use for SME / MSME mortgage, fill the online application form.

• Submit all related paperwork to finish the process.

• Get cash within the financial institution within 24 hours.

These are the few steps where you can easily apply and get approval in simply 24 hours.

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