MSME Loan

Highlights

Facilities Offered

 - Mortgage Loan
- Overdraft Facilities

Who is Eligible

 Customers - Individual / Proprietary Firms, Registered Partnership Firms / Limited Liability Partnership Firm / Private Limited / Limited Companies
Entities (engaged in manufacturing or services) who fit under the guidelines of Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 as given below in Table 1.

Min. Exposure

 Rs. 1 Lakh

Max. Exposure

 Rs. 500.00 lakhs

Rate of Interest

 - Mortgage Loan – starts at 10%
- Overdraft Facilities – starts 10.5%

Collateral Security

 Acceptable mortgage of asset (Residential/ Commercial) with clear & marketable title. Geo limit for Mortgage Property up to 25 Km radius of Branch premises including Badlapur, Ambernath, Ulwe, Palghar, Panvel.

Funding

 Self Occupied Residential Property – 75%,
Self Occupied Commercial/Industrial– 65%,
Rented Property – 60% (LTV – 60% to be considered for property older than 15 years)

Guarantor

 One guarantor Applicable
  • Share membership : 1% of loan amount.

    • Frequently Asked Questions (FAQs)

    Customers eligible for a Micro Small & Medium Enterprises (MSME) loan include individuals, proprietary firms, registered partnership firms, limited liability partnerships, private limited, and limited companies. The entities must be engaged in manufacturing or service sectors and meet the guidelines of the MSME Development Act, 2006.

    Loan amounts range from a minimum of Rs. 10.00 lakhs to a maximum of Rs. 500.00 lakhs under this Greater Line of Credit for MSMEs. This helps small and medium enterprises access adequate financing for business growth.

    The Greater Bank MSME loan offers multiple facilities, including Term Loans, Short- Term Loans, and Overdraft Facilities. These options provide flexibility for business financing based on the unique needs of the MSME sector.

    Yes, a guarantor is required for a proprietary company applying for an MSME loan. Additionally, share membership of 2.5% of the loan amount is needed.

    To check MSME loan eligibility, applicants can use our online eligibility calculator or visit the nearest Greater Bank branch. Staff can guide you through the application process and eligibility criteria.

    Yes, you can apply for the msme loan online through our website. For any assistance, feel free to visit your nearest Greater Bank branch.

    The loan tenure varies based on the loan type and the financial needs of the MSME. For short-term financing, options range up to 12 months, while term loans can extend up to 7 years.

    Greater Bank offers competitive interest rates, flexible loan terms, and various facilities tailored to micro, small, and medium enterprises. This allows businesses to scale operations effectively with affordable financing options.

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