Bajaj Finserv offers easy-to-meet MSME Loan eligibility criteria to ease prospective borrowers. Avail an MSME loan with ease to induce additional capital to your business and give it a boost. A substantial loan amount of Rs.45 lakh can suitably meet big-ticket business funding requirements of a concern to help improve and scale-up operations.
The funds can be availed to meet business requirements like office renovation, improvement of cash flow, inventory purchase, up-gradation to advanced technology, lease new premises for expansion, raw material purchase, and many more. Also, furnish a handful of documents when applying to streamline the application procedure.
Simple MSME loan criteria along with minimal documentation help avail the funds without any hassle. Enjoy customised MSME loan with attractive features that also reduce EMI burden and make repayment affordable. Other facilities that further make managing the loan easy include anytime access of loan account through our customer portal Experia, collateral-free funds, fast disbursal, etc.To apply for an SME or MSME loan from Bajaj Finserv, you must be one of the following:
Once you fulfil the eligibility criteria, you have to submit only a handful of documents to get a Bajaj Finserv MSME Loan. The list of required MSME loan documents are as follows:
|KYC documents||Aadhar card, Pan card, Voter ID card, driving license or any KYC document approved by the government|
|Address proof||Documents such as electricity bill, rent agreement, passport, etc.|
|Financial documents||Copy of ITR, GST returns, bank account statement and profit and loss statement|
|Business ownership proof||The registration documents for your business|
MSME stands for Micro, Small and Medium Enterprise. It was introduced by the Government of India in agreement with the Micro, Small and Medium Enterprises Development (MSMED) Act of 2006. As per this act, MSMEs are the enterprises involved in the production, processing or preservation of goods and commodities. Vital for economic growth, this sector contributes around one-third of the country’s GDP and generates employment for around 110 million of the population.
It also plays an important role in the socio-economic development of the country as many of these enterprises operate in rural India. According to the Government's annual report of 2018-2019, more than 6 lakh MSMEs operate in the country.
Initially, MSMEs were classified based on two factors - investment in plant/machinery and an annual turnover of the enterprises. However, the Ministry of Micro, Small and Medium Enterprises has recently revised the classification by combining these two factors into a single criterion.
The MUDRA loan is provided under the Pradhan Mantri MUDRA Yojana (PMMY) to non-farming and non-corporate micro and small enterprises. These enterprises can avail loans up to Rs.10 lakh under the MUDRA (Micro Units Development & Refinance Agency Ltd.) scheme.
We have discontinued this product (MUDRA Loan) at this time. Please reach out to us on +91-8698010101 to know more about the current financial services provided by us.
|Loan amount under Shishu||Up to Rs.50,000|
|Loan amount under Tarun||Rs.50,001 to Rs.500,000|
|Loan amount under Kishore||Rs.500,001 to Rs.10,00,000|
|Processing fees||0.5% for Tarun Loan, nil for others|
|Eligibility criteria||New and Existing Units|
|Repayment period||3-5 Years|
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