MSME Loan for New and Existing Business or Enterprise is a type of credit facility in form of a Term Loan (short-term/intermediate-term/long-term), Working Capital Loan, Overdraft, Cash Credit, Letter of Credit, Bill Discounting, and other funding products.
Micro, Small, and Medium Enterprise (MSME) loans are offered by numerous financial institutions to Startups, Self-employed Professionals, MSMEs, Business Owners, Sole Proprietorships, Private and Public Limited Companies (PLCs), Partnership Firms, Limited Liability Partnerships (LLPs), and other business entities engaged in the Services, Manufacturing, and Trading sectors.
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Further, let’s discuss business loan interest rates offered by leading Banks/NBFCs, along with MSME loan features, eligibility criteria, fees & charges, and much more.
Comparison of Business Loan Interest Rates offered by Top Banks/NBFCs – February 2023
|Axis Bank||14.95% - 19.20% p.a.||Apply Now|
|Bajaj Finserv||9.75% - 25% p.a.||Apply Now|
|Flexiloans||1% per month onwards||Apply Now|
|HDB Financial Services Ltd.||Up to 36% p.a.||Apply Now|
|HDFC Bank||10% - 22.50% p.a.||Apply Now|
|IDFC First Bank||15% p.a. onwards||Apply Now|
|Indifi||1.50% per month onwards||Apply Now|
|Kotak Mahindra Bank||16% - 19.99% p.a.||Apply Now|
|Lendingkart||1% - 2% per month||Apply Now|
|Mcapital||2% per month onwards||Apply Now|
|NeoGrowth Finance||19% - 24% p.a.||Apply Now|
|Tata Capital||12% p.a. onwards||Apply Now|
|UGRO Capital||14.90% p.a.||Apply Now|
Note: Business loan interest rates are updated as on February 2023.