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MSME Loan for your Business Expansion and Growth

Aavas Financiers helps you fulfil your business needs with minimum documentation at attractive interest rates with MSME loan.

With the MSME business loan you can get funds for working capital that you can utilize to purchase new machinery, equipment or aid yourself to expand your business.

MSME Loan Details

Interest Rate 13% p.a. onwards*
Loan Amount Rs.1,00,000 onwards
Loan Tenure Up to 7 years

*For MSME Loan above 20 Lakhs.

The MSME business loan at a competitive interest rate can help in a rapid growth of your business. The online process to apply for the MSME loan for business in 2024 is simple but before applying, it is always recommended to check your MSME loan eligibility. You can use the loan eligibility calculator online to find out your loan eligibility status. When you know the loan amount, whether you are starting a new business or expanding your existing business, you will be able to plan your budget accordingly.

We offer Flexible Loan Tenure between 2 to 7 years.

Micro, Small, and Medium Enterprise or MSME loan schemes are availed by entrepreneurs or the one who owns and runs a business. There are various reasons behind availing an MSME loan such as to purchase goods or stock, for business expansion, increase cash flow, purchase or upgrade any machinery or equipment, meet the working capital requirements and launch new products etc.

People applying for an MSME loan should also check the current MSME loan interest rate, documents required for MSME loan, and MSME loan eligibility for new businesses. This helps to make the loan approval process smooth and quick. People can use Aavas online MSME loan eligibility calculator to check the eligibility requirements. If people already know what are the requirements for MSME loan and work accordingly, then availing an MSME loan becomes easier.

Features of Aavas MSME loan

Aavas MSME Loan is a financial product designed specifically for Micro, Small, and Medium Enterprises (MSMEs). It offers a range of features tailored to meet the financial needs of businesses in this sector.

1.Attractive Interest Rates: Aavas MSME Loan provides competitive interest rates, making it affordable for MSMEs to access the funds they need for various business purposes. Competitive interest rates help reduce the overall cost of borrowing.

2. Flexible Tenure up to 7 Years: This feature allows MSMEs to choose a loan repayment period that suits their business cash flow. Longer tenures can result in lower equated monthly installments (EMIs), making it easier to manage repayments.

3. Easy, Minimal Documentation: Aavas MSME Loan streamlines the documentation process, reducing the paperwork burden for business owners. This simplifies the loan application and approval process, saving time and effort.

4. No Hidden Charges: Transparency is crucial for MSMEs. Aavas ensures there are no hidden charges, enabling borrowers to understand the total cost of the loan upfront.

5. Reliable & Secured Storage of Documents: The lender offers a secure platform for storing important loan-related documents. This ensures that both the borrower and the lender have easy access to necessary paperwork throughout the loan tenure.

6. Easily Availed in Rural India: Aavas extends its services to rural areas, making it accessible to MSMEs in remote locations. This is vital for fostering economic growth and development in rural communities.

7. Use for Business Expansion, Purchase of Equipment, Working Capital, etc.: Aavas MSME Loan can be utilized for various business purposes, including:

• Business Expansion: Funds can be used to expand operations, open new branches, or explore new markets, allowing MSMEs to grow and increase their revenue.

• Purchase of Equipment: Businesses can invest in machinery, technology, or other equipment necessary for production or service delivery, improving efficiency and competitiveness.

• Working Capital: MSMEs can use the loan to manage day-to-day expenses, purchase inventory, pay salaries, and cover operational costs during lean periods.

The Benefits of Aavas MSME Loan

  • Integrated branch network that facilitates loan servicing at a branch convenient to you.
  • Better MSME Loan eligibility to fulfill your business requirements as per your need.
  • Availability of a wide range of payment modes.
  • Professional team to provide you doorstep services.
  • Fast MSME loan processing and disbursals.

Documents Required for MSME

For Self Employed People

Identity Proof

Your PAN Card is mandatory, and any one of these:

  • Passport
  • Voter ID
  • Aadhar Card
  • Driving License
Address Proof
  • Passport
  • Voter ID
  • Aadhar Card
  • Electricity bill/ water bill/ telephone bill
  • Driving License
Proof of Income
  • IT Returns and/or Financial Statements of last 3 years And/or
  • Informal Income Documents
Other Documents
  • Signed Application Form with Picture
  • Cheque For Processing Fee
  • Bank Statement of Last 6 Months
Property Documents
  • Title Deeds of the Property
  • Proof of No Encumbrances on the property

Note 1: For a full list of KYC documents, visit your nearest Aavas Financiers’ Branch.
Note 2: Make sure all your documents are valid (not past expiry date in case of Driving License and Passport)

Click to get more details about the Documents Required for MSME Business Loan

Eligibility for Aavas MSME Business Loan

  • Applicant should be a resident of India and a registered or authorized person of that business for which He/She needs the MSME Loan.
  • Applicant should be at least 18 years of age to be considered eligible for the MSME loan.
  • Applicant's age should not exceed 80 years at the time of loan maturity.
  • Maximum tenure for which MSME Loan can be availed is 7 years.
  • Minimum loan amount that can be offered is Rs 1,00,000/-

To calculate your interest rate on MSME Loan first check your credit score

The MSME loan remains one of most tried and tested options to get the funds to expand your business in 2024.

To top it all, your MSME business is also propelled to the next level.

The online process has also made it remarkably simple to apply for MSME loans. Even during this pandemic, you can apply for the MSME loan from the safety and comfort of your home. The online loan process, apart from being convenient, is faster too. You will be amazed by the simplicity carried by the entire loan process. Just log in to have a 'white glove' experience!

Some interesting facts on MSME Business Loan

  • There were 11.27% of prospects who applied for a loan with Aavas in the last 30 days, looking for an MSME loan in one form or the other.
  • In Rajasthan, Jaipur has witnessed a notable hike in the number of people demanding an MSME business loan..
  • Applicants with the avg. age of 42 years was looking to expand their business with the thelp of an MSME loan.
  • 3.54% of {0} applicants were women and 7.73% of applicants were men, who wanted to start some business of their own.
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MSME business loan will empower you to grow and take your MSME venture to the next level. In fact, there are various government schemes as well, which have an aim to encourage small businesses to grow at a rapid pace. And if you can get MSME loan with these available government schemes then you will fast-track your small venture.

The following documents are required for an MSME loan for business-

  • Id proof- Driving License, Passport, Voter Id card OR PAN card, Aadhar card
  • Residence proof- Driving License, Passport, Voter Id card OR Ration card, Aadhar card, Electricity bill, Water bill
  • Financial documents- Last two years ITR, Balance Sheet of the firm OR Profit and Loss statements, Last 6 months bank statements
  • Business proof- Registration certificate, Certificates of business existence OR Memorandum and Articles of Association

Enterprises who are running businesses for at least 3 years are eligible for MSME loan for business, provided they are in the 25 to 55 years age category. An IT return filed by the business for at least 1 year is also necessary.

If your documents and profile is eligible, then the minimum time to get an MSME loan for business is 7-10 days to process your application. But in cases of applications asking for a huge amount of money may take more than the usual clearance time.

Yes, credit score/CIBIL score is important for getting an MSME loan as a good CIBIL score let the lenders take faster decisions for approval of the applicant's loan request. As the company's CIBIL rank is near 1, the better are the chances of getting approval for the loan.

An applicant can get a loan of 50,000- 10 lakhs depending on the size of the business. Different institutions have a different capacity of providing different amounts to the various applicants. You need to mention the required amount at the time of filling up the application form.

Your credit score, your income, your age and the nature of your work are the prime factors in determining the size of your loan. Settling your previous debts and improving your credit score may help you immensely in building a better credit score.

The lowest rate of interest for MSME loans varies from bank to bank or financial institution. It is recommended that you check for a low interest rate while applying for MSME loan.

Yes, if you are ready to give the self-occupied property evidence. Self-occupied residence property mortgage is also required.

Yes, the loan amount will depend on the valuation of the property. You need Self Occupied Residential Property (SORP) for the same.

Yes, residential property mortgage is a must even if you are ready to give commercial property as additional collateral.

Yes, in case the customer is mortgaging his residential property too for rechecking.

Yes, if evidence of self-occupied and self-commercial use is specified.

Yes, it must be taken even if the customer has GST.

To avail an MSME Loan, you can call on our toll-free number 1800-20-888-20 or fill your details online for MSME loan.

Here’s why our MSME Business Loan is the perfect match for you and tailored to fulfil your requirements. - Flexibility of choosing from business loan repayment options, minimum documentation & time.

There are a minimum of two years and maximum of 7 years to repay your MSME business loan.

Your EMI depends on the loan amount. Please use our Business Loan EMI Calculator to know exactly how much you need to pay.

Ratings and Reviews

Prempal Pal

मेरा नाम प्रेमपाल है, मेरी पेड़ पौधों की नर्सरी के व्यापार को बढ़ाने के लिए मुझे पैसे की बहुत जरूरत थी | ऋण लेने के लिए मैंने आवास में ₹500000 के लिए अप्लाई किया और करोना वायरस के चलते सभी ऑफिस और ब्रांच बंद थे, आवास फायनेंसियर्स ने लॉक डाउन होने के बावजूद भी प्रयास किया और मेरे अकाउंट में पैसा आ गया, मै आवास फाइनेंस लिमिटेड कंपनी को धन्यवाद देता हूं कि मेरी जरूरत को समझा और लोन का पात्र | समझा मैं हृदय से सभी लोगों का आभार व्यक्त करता हूं | धन्यवाद

Vishal Kunjir

Sincere appreciation to Aavas. It is with great gratitude that I write this letter. Though it is a fact that the branch is giving us very good service consistently. Because of the Aavas, I was able to satisfy my staff and my labor, so I appreciate the endeavor of suppressing his own tensions and pains and helping me in this situation of lockdown. I hope that as the lockdown situation eased out, he can avail a few days’ leaves and be there with his newborn baby and can spend some time with his family. Such people are assets to your institution and hope that their tribe increases. Once again, I am thankful for the staff of Aavas.