What Is The Interest Rate For Msme Loan

Interest rates on MSME loans are between 8.30% and 16.25%. Depending on your lender there will be a limit on the maximum loan amount or some lenders wouldn’t have any such limits. Interest rates will also depend on your credit score. With a good credit background you will be able to get good interest rates and high loan amounts. Your lender would want to make sure that you have a good repayment capability, so that they are assured that you will be able to pay back the EMIs on time.

Interest rates will differ from lender to lender and it is always better to check the interest rates before you apply for an MSME loan. If you are already in good terms with your lender, you can bargain for low interest rates. Having a good credit score is an important criteria to get affordable interest rates. So if you don’t have a good credit score, it would be better if you solve your negative issues to boost your credit score, so that you can avail low interest loans.