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MSME Loan

MSME Loan / SME Loan Features & Benefits

MSME refers to micro, small and medium enterprises. Such enterprises have diversified needs like purchase of inventory, buying new equipment, paying salary to the staff or maintaining the cash flow. MSME/SME loans come as a handy financial solution to fulfil all these requirements.

A collateral-free loan for MSME, this credit facility can be easily availed by small businesses at an affordable rate of interest. With easy to meet eligibility criteria and less paperwork, this SME finance option can help the small business owners, women entrepreneurs and start-up owners fund their planned and unplanned expenses.

Convenient and quick, SS Group MSME Loan or SME loans are designed to help growing businesses meet their financial requirements in a timely, easy way with funds up to Rs.45 lakh.

You can get an MSME Loan without collateral, which means no assets need to be pledged to secure financing. Along with an attractive interest rate, the loan offers a unique flexi loan facility and approval in just 24 hours. Our MSME or SME business loan is the ideal source of hassle-free MSME finance for your enterprise.

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What can an MSME/SME loan be used for?

  • Invest in your firm’s infrastructure
  • Meet working capital requirements
  • Install new plant and machinery
  • Pay for several overheads

Top features of MSME / SME loan:

MSME/SME finance up to Rs.45 lakh

High loan limit of Rs.45 lakh to finance all your business needs.

Quick processing

Collateral-free funds with an easy online application process and approval in under 24 hours.

Flexi loan facility

Borrow and prepay funds to suit your dynamic business’s requirements as MSME/SME funding is now made flexible with SS Group. As you make multiple withdrawals on your loan, you only pay interest on what you use, thus lowering your EMIs by up to 45%.

Minimal Documentation

SME / MSME finance has never been easier as you only need to submit 2 documents to our representative who comes right to your doorstep to collect them.

Flexible Tenor

Tenors ranging up to 84 months, to fit your budget.

Online Account Management

Manage your loan account with just a few clicks and access your funds easily.

Pre-approved offers

Grow your business with SME/MSME funding from SS Group. Check out your pre-approved offer to avail a loan without waiting for it.

MSME Loan / SME Loan Eligibility Criteria:

If you have a small business and need urgent funds to meet your firm’s expenses, there’s an easy process to avail this loan after fulfilling the following MSME business loan eligibility criteria

  • You must be a resident citizen of India aged between 25 to 65.
  • You must have a running business for a minimum of 3 years.
  • You must have filed income tax returns for the business for at least 1 year.

Fees and Interest Rates for MSME Loans

SS Group offers MSME loans at an attractive rate of interest. Here is the list of applicable fees and charges on an MSME loan for new business.

Types of Fees Applicable charges

Rate of interest

18% p.a. Onwards

Processing fees

Up to 2% of the loan amount (plus taxes)

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

Document processing charges (Recently Updated)

Rs. 2000 (plus taxes)

Outstation collection charges

Rs. 2000 (plus taxes)

Outstation collection charges

Not applicable

Document/statement charges

Download of your e-statements/letters/certificates at no additional cost by logging into customer portal – Experia.

Account statement/repayment schedule/foreclosure letter/No Dues Certificate/interest certificate/list of documents

You can also get a physical copy of your loan documents from any of our branches at a charge of Rs. 50/- (Inclusive of taxes) per statement/letter/certificate.

Documents Required for an MSME Loan:

A collateral free loan for MSME by SS Group requires minimal paperwork. To avail this loan, you simply need to submit the following documents:

  • KYC documents – Aadhar card, PAN card, Voter ID card, driving licence or any other government-approved KYC document.
  • Address proof – Apart from KYC document, documents such as your electricity bill, rent agreement, passport may be used as a proof for your address.
  • Financial documents - Copy of your income tax returns, GST returns, bank account statement and profit and loss statement.
  • Business ownership proof – The registration documents for your business.
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