An MSME loan by Bajaj Finserv is a perfect financial solution to meet the planned/unplanned expenses of your small business. This collateral-free loan comes with an attractive rate of interest and a nominal processing fee of up to 2% (plus taxes). There are no hidden charges as all the terms and conditions are transparently mentioned for your clear understanding.
|Types of Fees||Applicable Charges|
|Rate of interest||18% onwards|
|Processing fees||Up to 3% of the loan amount|
Statement of Account/ Repayment Schedule/Foreclosure Letter/No Objection Certificate/Interest Certificate/List of documents
|Download your e-statements/letters/certificates at no extra cost by logging into Customer Portal – Experia. You can get a physical copy of your statements/letters/certificates/List of Documents from any of our branches at a charge of Rs. 50/- (Inclusive of taxes) per statement/letter/certificate.|
|Bounce charges||Up to Rs. 3000 (Inclusive of applicable taxes)|
|Penal interest (Applicable in case of non-payment of monthly Instalment on/before the Due - Date)||2% per month + applicable taxes|
|Document processing charges||Rs. 1449 + applicable taxes|
|Outstation collection charges||Rs. 65 + applicable taxes per repayment instrument|
Bajaj Finserv offers low interest rates along with nominal fees and charges on its MSME Loans. This ensures that your enterprise can pay its EMIs affordably.
EMI stands for Equated Monthly Instalment. It is a fixed monthly payment made by the borrower towards repayment of the loan. This small monthly instalment comprises both the principal amount and the accrued interest.
Bajaj Finserv offers a flexible repayment tenor of up to 84 months on MSME loans to ease the process of repayment. This long tenor lets you spread out your EMIs and make the credit facility affordable. You can also use our online EMI calculator to know the exact amount of your monthly outgo and total payable interest in just a few minutes.
Manual calculation of monthly instalment can be time-consuming and might give you an erroneous result. In such a situation, the MSME Loan EMI Calculator can help you as it is simple to use and gives accurate results in a few minutes.
You can calculate your EMI by giving the following information:
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|
Get up to Rs.45 lakh to upgrade equipment | Pay only interest as EMIKNOW MORE
Convert your existing loan | Pay lower EMIs by up to 45%*KNOW MORE
Get up to Rs.45 lakh to manage operations | Flexible tenor optionsKNOW MORE
Get funds up to Rs.45 lakh | Minimal documentationKNOW MORE