7.65% p.a.
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.