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Max Loan Amt.Upto ₹75L
Rate of Interest10.75% - 28%
Tenure uptoUpto 5 Years
Processing FeeUpto 2%
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Max Loan Amt.Upto ₹50L
Rate of Interest13.25% 19.25%
Tenure uptoUpto 5 Years
Processing FeeUpto 2%
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Max Loan Amt.Upto ₹75L
Rate of Interest15% - 19.25%
Tenure uptoUpto 5 Years
Processing FeeUpto 2%
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CLCSS – Scheme, Eligibility, Benefits & Beneficiaries

Credit Linked Capital Subsidy Scheme (CLCSS) is a subsidy scheme launched under The Ministry of Micro, Small and Medium Enterprises (M/o MSME) for the technology up-gradation of Micro and Small Enterprises (MSEs) under approved and specified 51 sub-sectors/products. The primary focus of Credit Linked Capital Subsidy Scheme is to provide growth and development of Small Scale Industries (SSI) in rural and urban areas of India.

Large percentage of Small Scale Industry (SSI) units still work with outdated technology and plant and machinery. The Scheme aims at helping technology up-gradation by providing upfront capital subsidy to SSI units, including tiny units, Khadi units, village units and coir industrial units. The capital subsidy is provided to SSIs for the modernization of their production equipment (plant and machinery) and techniques.

Eligibility Criteria to avail loans under CLCSS

  • The capital subsidy of 15% rate in eligible plant and machinery under the scheme shall be available only for projects, where term loans have been sanctioned by the eligible PLI on finance up to Rs. 1 crore
  • Micro and Small Enterprises having a valid Udyog Aadhaar Memorandum (UAM) number are eligible
  • The industries which are upgrading from small scale to medium-scale on account of sanction of additional loans under CLCSS are eligible for assistance
  • Eligibility for capital subsidy under the scheme is not linked to any refinance scheme for the nodal agencies
  • Export-oriented and labour intensive new sectors/activities will be considered under this scheme

Benefits of CLCSS

This scheme brought many advantages to Small Scale Industries (SSIs). These benefits are as follows:

  • The main objective is to help in up-gradation of technology in Tiny and SSI units in the specified products / Sub-sectors as notified by Govt. of India by providing 15% capital subsidy for investment up to Rs 1 crore in eligible plant and machinery
  • By introducing this scheme, many non-productive industries were improved
  • Both the existing SSI Units and New SSI units which are registered are covered in this scheme
  • The scheme would cover the following technology / needs / products / sub-sectors:

List of Approved Sub-sectors/ Products

1. Drugs and Pharmaceuticals 13.Mineral Water Bottle 25.Transformer/ Electrical Stampings/ Laminations /Coils/Chokes including Solenoid coils 37. Industry based on Medicinal and Aromatic plants
2. Glass and Ceramic items including tiles 14. Toys 26. Mineral Filled Sheathed Heating Elements 38. Glass and Ceramic Items, including tiles
3. Biotech Industry 15. Steel Furniture 27.  Control; Analytical, Medical, Electronic Consumer & Communication equipment, etc. 39. Information Technology (Hardware)
4. Food Processing (including Ice Cream manufacturing) 16. Readymade Garments 28. Forging & Hand Tools xxvi) Foundries – Steel and Cast Iron 40. Plastic Moulded/ Extruded Products and Parts/ Components
5. Wooden Furniture 17. Wires & Cable Industry xxii) Auto Parts and Components 29. Combustion Devices/ Appliances 41. Non-Ferrous Foundry
6. Rubber Processing including Cycle/ Rickshaw Tyres 18. Steel Re-rolling and /or Pencil Ingot making Industries 30. Khadi and Village Industries 42. Sewing Machine Industry
7. Machine Tool 19. Agricultural Implements and Post-Harvest Equipment 31. Paints, Varnishes, Alkyds and Alkyd products 43.Locks
8. Cosmetics 20. Sport Goods 32. Electronic equipment via test, measuring and assembly/ manufacturing, Industrial process 44. Welding Electrodes
9. Fans & Motors Industry 21 Agricultural Implements and Post-Harvest Equipment 33. General Light Service(GLS) lamps 45. Dimensional Stone Industry (excluding Quarrying and Mining)
10. Dyes and Intermediates 22. Beneficiation of Graphite and Phosphate 34. Common Effluent Treatment Plant 46. Corrugated Boxes
11. Printing Industry 23. General Engineering Works xxviii) Gold Plating and Jewellery 35. Leather and Leather Products including Footwear and Garments 47. Coir and Coir Products
12. Zinc Sulphate 24. Poultry Hatchery & Cattle Feed Industry 36. Bicycle Parts 48. Industrial Gases

Comparison of Interest Rates on Business Loan Offered by Top Banks/NBFCs in 2023

Bank/NBFCs Interest Rate
Axis Bank 10.75% p.a. onwards
Flexiloans 1% per month onwards
HDB Financial Services Ltd. 8% - 26% p.a.
HDFC Bank 10.75% - 25% p.a.
IDFC First Bank 10.50% p.a. onwards
Indifi 1.50% per month onwards
Kotak Mahindra Bank 16% - 26% p.a.
Lendingkart 12% - 27% p.a.
Mcapital 2% per month onwards
NeoGrowth Finance 15% - 40% p.a.
Tata Capital 12% p.a. onwards
UGRO Capital 9% - 36% p.a.
Bajaj Finserv 10% to 26%

Documents required

  • Aadhar card / Voter ID / PAN card
  • KYC documents of the applicant
  • Business address and vintage proofs
  • Any other document required by the lender

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List of Beneficiaries (CLCSS)

  • Andhra Bank
  • Bank of Baroda
  • Bank of India
  • Canara Bank
  • Corporation Bank
  • Indian Bank
  • NABARD
  • Punjab National Bank
  • SIDBI
  • State Bank of India
  • Tamil Nadu Industrial Investment Corporation

Claim Subsidy under CLCSS

To avail or claim a subsidy under CLCSS, you need to apply online via Primary Lending Institutions (PLIs) from where the Micro and Small Enterprises (MSEs) avail term loans.

Total CLCSS Units: 87,989
Progress Report: 2021-22
Financial Year: 2021-22
  • Total Number of Units: 1800
  • Total Subsidy (Rs. in Crore): 106.63

Source: https://dashboard.msme.gov.in/

How Can I Apply for a Business Loan Online?

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Step 1: Enter your mobile number in the application form.

Step 2: Enter OTP to verify your mobile number.

Step 3: Provide your personal details.

Step 4: Select a bank account for account aggregator consent.

Step 5: Compare offers and apply for the best-suited loan.

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FAQs

This scheme is for the technological advancement of small-scale industries both in rural and urban areas.

The eligible beneficiaries for this scheme are Private and Public Limited Companies in the SSI sector, Cooperative societies, Partnerships, and Proprietorships.

The ceiling on the subsidy would be Rs. 15 lakh or 15% of the investment in eligible plants and machinery, whichever is lower.

No, the Subsidy under CLCSS shall not avail any other subsidy for technology up-gradation from the Central/State/UT Government.  Except Cases covered under National Equity Fund (NEF) Scheme and Units in the North-Eastern region are eligible under CLCSS can also be covered under this scheme.

Yes, any beneficiary unit shall remain in commercial production for a period of at least 3 years.

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