MSME loan in 59 minutes: Here's a step-by-step guide on how to get funding worth Rs 1 crore
Updated : January 02, 2019 11:28 AM IST
The loan amount has to be between Rs 10 lakh and Rs 1 crore and if the loan application is approved, it will be disbursed within seven or eight working days.
The interest rate for these loans start from 8 percent.
The initiative of attaining loans of over Rs 1 crore in 59 minutes, is aimed at encouraging automation, avoiding long loan procedures and frequent visits to banks.