Mcapital Business Loan

Mcapital offers collateral-free business loans to small and medium enterprises (SME) for loan amounts of up to Rs 15 lakh and repayment tenures of up to 3 years. Mcapital business loan interest rates start from 2% per month. Along with small business loans, it also offers POS loans (Loan Against POS Receivables/ Retailer Loan). Borrowers availing POS loans also get a POS machine.

हिंदी में पढ़े

Updated: 07-11-2024 08:59:18 AM

Mcapital Business Loan Highlights
Interest rate	2% per month onwards
Loan amount	Up to Rs 15 lakh
Repayment tenure	Up to 3 years
Processing fee	2% of the loan amount

Rates as updated as of 7 November 2024

Table of Contents

Interest Rates
Fees and Charges
Types
Eligibility Criteria
Documents Required

Interest rate of Mcapital Business Loan

Mcapital business loan interest rate starts from 2% per month.

Fees and Charges of Mcapital Business Loan

Processing Fee

Mcapital charges a processing fee of up to 2% of the loan amount.

Prepayment Charges

Small Business Loan	5% of the outstanding amount +GST
Loan Against POS Receivables	5% of the outstanding amount +GST

Other Fees and Charges

Particulars	Small Business Loan	Loan Against POS Receivables
Penal Charges for Cheque/NACH bounce	Rs 750 + GST	Rs 750 + GST
Late payment fee	Penalty for late payment of EMI- 5% per month on EMI amount from the due date till the date of repayment of EMI.	Rs. 100 per day and charges @5% per month on EDI with a maximum 3 days grace period in a month if it is within the grace period limit
Change in repayment mode charges	Rs 600 + GST	Rs 600 + GST
Duplicate NOC Issuance charges	Rs 600 + GST	Rs 600 + GST
Issuance of physical statement of account	Rs 600 + GST	Rs 600 + GST
EMI Pick up charges	Rs 600 + GST	Rs 600 + GST
Loan cancellation & Rebooking charges	5% of principal outstanding or INR 1000/- whichever is higher	5% of principal outstanding or INR 1000/- whichever is higher
Furnishing Cibil copy	Rs 600 + GST	Rs 600 + GST
Duplicate Repayment schedule	Rs 600 + GST	Rs 600 + GST

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Types of Mcapital Business Loan

Small Business Loan

Purpose: Mcapital small business loan is a collateral-free loan for entrepreneurs and newly established businesses to expand their businesses, meet capital requirements or renovate their existing business.
Loan amount: Up to Rs 15 lakh
Repayment tenure: 1 year to 3 years

Loan Against POS Receivables (Retailer loan)

Purpose: Mcapital offers loan against POS receivables or POS loans to businesses. Borrowers can use the loan amount to start a new business, stock inventory, etc.
Loan amount: Rs 50,000 onwards
Repayment tenure: 6 months to 1 year