All you need to know
Personal loan for all your needs
Higher credit score increases the chances of loan approval. Check your CIBIL score today and get free insights on how to be credit-worthy.
Check Credit ScoreHome Loan with instant approval starting
@ 9.15% p.a
All you need to know
Home Loan for all your needs
Calculators
Business loan to suit your growth plan
All you need to know
Business loan for all your needs
Get secured business loans with affordable interest rates with Tata Capital. Verify eligibility criteria and apply today
Know MoreAll you need to know
Explore Used car loans
Calculators
All you need to know
Calculators
Avail Loan Against Securities up to ₹40 crores
All you need to know
Explore Loan Against Securities
Calculators
Higher credit score increases the chances of loan approval. Check your CIBIL score today and get free insights on how to be credit-worthy.
Check Credit ScoreAvail Loan Against Property up to ₹3 crores
All you need to know
Loans for all your needs
Calculators
All you need to know
Loans for all your needs
Shop with our QIK EMI card at authorized dealerships and repay with easy EMIs
Know MoreAll you need to know
Calculators
Loan Restructuring for COVID-19 related stress
Loan restructuring can be availed by borrowers to manage financial stress caused by the COVID-19 pandemic. Customers eligible under RBI circular, having any of the retail loans can apply for restructuring of the loan via the Tata Capital website.
Micro, small, and medium-sized enterprises (MSMEs) form the backbone of India’s economy, owing to their considerable contribution to the country’s GDP, exports, and employment generation. At present, there are approximately 6.3 crore MSMEs in India, contributing to around 30% of India’s GDP and more than 40% of total exports. Moreover, MSMEs are the second-largest employer in India after the agriculture sector. To help these MSMEs grow and flourish without being affected by financial hurdles, Tata Capital offers MSME loans or SME loans at competitive interest rates.
An MSME loan or SME loan is a unique type of business loan provided exclusively to startup owners or small and medium-sized business enterprises in India. That is why an MSME loan/SME loan is also known as a startup business loan or simply a startup loan. An MSME loan/SME loan can be used as working capital or for long-term business requirements, such as buying equipment, upgrading infrastructure, and hiring manpower.
With Tata Capital’s MSME loan/SME loan, you can acquire funding of up to Rs. 75 lakhs and meet your various short-term and long-term business requirements. Our business loans for startups come with features like easy eligibility, minimum documentation, and doorstep services. Moreover, our MSME loan interest rate is highly competitive, starting from just 15% per annum.
Along with the affordable interest rates and easy eligibility, our business loans for startups come with the following product offerings:
As an MSME or SME owner, you can avail of an MSME loan/SME loan from Tata Capital and fulfill all your business's financial requirements. Our MSME business loan is easy to get and offers the following advantages:
The eligibility criteria and documents required for MSME loan may vary from one lending institution to another. If you want to avail of an MSME business loan from Tata Capital, you must meet the following MSME loan eligibility criteria:
Age- To be eligible for our startup business loan, your age must be between 21 and 65 years
Business Profitability - We provide business loans for startups to those businesses which have shown consistent profits for at least the past three years
Business Turnover - Your business turnover must indicate an upward trend if you want to apply for our MSME loan scheme
Balance Sheet - The balance sheet of your business must be audited by a registered Chartered Accountant if you want to avail of our MSME loan for startup business
Please note that our MSME loan process may involve some other eligibility requirements as well.
Just like any other loan, business loans for startups involve certain charges and fees. These charges can be classified into three categories - General Charges, Miscellaneous Charges, and Foreclosure Charges. The details of the charges applicable on Tata Capital’s business startup loan are mentioned below:
General Charges
Below are the general charges applicable on our MSME loan/SME loan:
| Type of Fee | Applicable Charges |
|---|---|
|
Interest Rate |
Starts at 15% p.a.* |
|
Processing Fee |
2.50% of the loan amount + GST |
|
Stamp Duty |
As Applicable |
|
Penal/Additional Interest Rate |
3% on Overdue amount per month + GST |
Below are the miscellaneous charges that would apply to your MSME loan/SME loan:
| Type of Fee | Applicable Charges |
|---|---|
|
Dishonor/Bounce Charges |
Rs. 2,000 for every cheque/Payment Instrument Dishonour + GST |
|
Mandate Rejection Service Charge |
Rs. 450 + GST |
|
CCOD Annual Maintenance Charges |
0.25% on Dropline amount or Rs. 1,000, whichever is higher per year |
|
Document Processing Fees |
Rs. 1999 + GST |
|
Outstation Collection Charges |
Rs. 100 + GST per repayment tenure |
|
Statement of Accounts (SOA) |
Soft Copy – Nil. Branch Walk-in – Rs. 250 + GST |
|
Loan Cancellation Charges |
2% of the loan amount or Rs. 5,750, whichever is higher + GST |
|
Payment Instrument Swapping |
Rs. 550 + GST |
|
Duplicate Repayment Schedule |
Soft Copy – Nil Branch Walk-In – Rs. 550 + GST |
|
Duplicate NOC |
Rs. 550 + GST |
|
Post-dated Cheque Charges |
Rs. 850 + GST |
Below are the foreclosure charges applicable on our MSME loan/SME loan:
| Type of Fee | Applicable Charges |
|---|---|
|
Foreclosure Charges |
|
|
Foreclosure Charges for Top-up |
|
|
Foreclosure Charges for CCOD |
|
|
Foreclosure Letter Charge |
|
Several lenders provide loan for SME in India. With Tata Capital, the MSME loan apply process is simple and hassle-free. You can do it in any of the following ways:
Several lenders provide loan for SME in India. With Tata Capital, the MSME loan apply process is simple and hassle-free. You can do it in any of the following ways:
If your business desperately needs money to fund operations, it can certainly benefit from an MSME loan. There are various options available with MSME loans that make them attractive for enterprises of all levels.
If your business qualifies for the requirements set by the Government of India, then you can avail of an MSME loan. Micro, small and medium enterprises have different criteria, so if you come under the investment and annual turnover set by the Government, then you qualify.
No, there is interest on the MSME loans, but they are available at lower interest rates. These interest rates are subject to the lender issuing the MSME loan.
MSME offering schemes are diverse, making them attractive to people in different areas to improve their prospects. For example, the PMEGP/MUDRA scheme provides financial assistance for businesses to expand their operations. Depending on your needs, you can pick a relevant MSME scheme.
The interest rate on MSME loans is variable, depending on the lender. They can start as low as around 7.5% - 17%.
A small business might not have the funds necessary to expand its business operations. When it is in need of money, an MSME loan can offer them the desired space and flexibility to pay back their loans on time without compensating for growth.
MSME loans typically require the following:
An MSME loan can be useful for various reasons, from expanding your business, purchasing new equipment, paying employee salaries and more. Regardless of the need, an MSME loan can be perfect if you need immediate cash at hand.
You can obtain an MSME loan directly from the lenders or institutions offering the loan. You need to ensure you meet the specific eligibility requirements set by the lender to avail of the loan.
Yes, if you have a new company, you can make use of MSME loans to fund your business operations. However, depending on the lender, your business must be running for two or three years at the time of application.
Submitted successfully
Be investment ready in minutes by signing up with the Tata Capital Moneyfy App. We are here to make mutual fund investments simpler for you.
SMS sent successfully!
An SMS has been sent to XXXXXXX051
Click on the link in the
message
to download the Moneyfy App.
Looking for a seamless loan experience? Get the Tata Capital Loan App and Apply for loans, Download Account Statement/Certificates, Track your requests & much more.
SMS sent successfully!
An SMS has been sent to XXXXXXX051
Click on the link in the
message
to download the Moneyfy App.
Thank you for subscribing
We will send news and updates to your registered email ID
rahul.sharma@gmail.com
Uh oh, something went wrong
Please try again later.
Click allow button to receive notifications
SMS sent successfully!
