| Suryoday Small Finance Bank – Business Loan | |
|---|---|
| Interest Rate | As per applicant’s profile |
| Min. Loan Amount | Rs. 1 lakh |
| Max. Loan Amount | Rs. 10 lakh |
| Business Existence | Min. 2 years |
| Loan Disbursement Tenure | Within 7 working days |
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.
The bank offers credit products to traders, manufacturers, service providers, micro and small enterprises that form to be a part of MSME sector.
| Secured Overdraft for MSMEs | |
|---|---|
| Offered to | MSMEs, Traders, Manufacturers, Shopkeepers, Service providers, etc. |
| Min. Overdraft Amount | Rs. 5 lakh |
| Max. Overdraft Amount | Rs. 50 lakh |
| Business Existence | At least 3 years |
| Collateral/Security required | Yes |
| Current Account | Mandatory and of Suryoday Small Finance Bank’s (SSFB) only |
Shopkeeper Loan from Suryoday Small Finance Bank
Shopkeeper loan is offered to small businesses, including grocery stores, garment shops, kirana shops, medical stores, etc. Loans for shopkeepers are offered to meet the business requirements that include stock purchase, business expansion, debt consolidation, paying-off salaries, working capital, hiring staff, buying machinery and raw materials, etc.
| Shopkeeper Loan from Suryoday Small Finance Bank | |
|---|---|
| Interest Rate | As per applicant’s profile and bank’s guidelines |
| Loan Amount | Up to Rs. 1 lakh |
| Monthly Turnover | Min. Rs. 5 lakh |
| Insurance | Provided on loan amount |
| Income Documents | Not required from proprietary/single owner enterprises |
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.
Check - Business Loan Interest Rate of Top Banks
MSME loans offers by Suryoday Small Finance Bank can be used for various purposes mentioned below:
