What is MSME Loan?
Micro, Small, and Medium Enterprise (MSME) loan is the credit facility in form of a business loan offered by financial institutions to individuals, MSMEs, and Startup enterprises. MSME loans are majorly used by self-employed customers, business owners, and enterprises for business expansion purposes, start a business, meet their working capital requirements, manage or increase cash flow, buy equipment/machinery, and much more.
Compare MSME Loan Interest Rates – Oct 2021
|SBI||8.30% onwards (SME Loan)|
|Kotak Mahindra Bank||14% onwards|
|Axis Bank||15% onwards|
|HDFC Bank||16% onwards|
|Fullerton Finance||17% onwards|
|ICICI Bank||18% onwards|
|Lendingkart Finance||18% onwards|
|IIFL Finance||18% onwards|
|Hero Fincorp||18% onwards|
|Indifi Finance||18% onwards|
|NeoGrowth Finance||18% onwards|
|Tata Capital Finance||18% onwards|
|RBL Bank||19% onwards|
|IDFC First Bank||20% onwards|
|HDB Financial Services Ltd.||22% onwards|
|PNB Business Loan||Based on your Business’s Profile|
|Bank of Baroda||Based on your Business’s Profile|
Note: The mentioned interest rates are subject to change and depend on the sole discretion of the bank, NBFC and RBI. Interest rates are updated as on Oct 2021.