What is the rate of interest on MSME loan?

7.65% p.a.

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Similarly one may ask, what is MSME subsidy?

The Credit Linked Capital Subsidy Scheme (CLCSS) renders a subsidy for technology upgradation to the MSMEs. This scheme provides 15% subsidy for additional investment up to Rs. 1 crore for technology upgradation by MSMEs. … Eligibility – Any MSME unit is eligible under this scheme.

Beside this, what is the business loan interest rate in India? Comparison of Business Loan by Banks

Lender Interest Rate Loan Tenure
HDFC Bank 15.65% p.a. to 21.20% p.a. (Rack interest rate) 12 months to 48 months
IIFL 18% p.a. to 25% p.a. 12 months to 48 months
Fullerton India 13% p.a. to 16% p.a. (floating) 12 months to 48 months
DHFL As per the lender’s terms and conditions Up to 5 years

In this regard, what is the interest rate of business loan?

Business Loan Details

Interest Rate 14.00% onwards
Processing Fee Upto 3% of loan amount
Loan Tenure Upto 5 years
Lowest EMI per lakh ₹ 2,327 for 5 years

Which bank is best for MSME loan?

Which Bank Is Best For Msme Loan

Bank Name Interest Rate
Andhra Bank 9.05% to 12.75%
Allahabad Bank 8.65% to 15.75%
SBI 9.1% to 15.65%
Indian Bank 9.25% to 15.1%

Which loan interest is low in India?

Lowest Personal Loan Rates Comparison

Banks Interest Rate Processing Fees
ICICI Bank 10.25% Upto 2.25% of Loan Amount
Kotak Bank 10.25% Starting from Rs.999
HDFC Bank 10.25% Upto 2.50% Min ₹ 999
Axis Bank 10.49% Rs.4,999

Which loan is best for business?

5 Best Banks for Business Loan in India 2021

  • HDFC Bank Business Growth Loans. HDFC Bank offers business loans up to Rs. …
  • SBI Simplified Small Business Loan. SBI business loans is a facility for the MSME business. …
  • IDFC First Bank Business Loans. …
  • Citi Banks Business Loans. …
  • Axis Bank Business Loan.

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