Business Loan Bank Of India: As for your information, let me tell you that Bank of India is one of those commercial banks which has made a significant place for itself at the national and international level in the last few years and Bank of India provides a large range of banking and finance products to its customers which includes various types of MSME loans to individuals, firms and companies and if you also want to get complete information about it, then read this article till the end.
Types of Bank of India MSME Loan
| Types of loans | Star Small Entrepreneur Sakemat Loan | Star SME Liquid Plus | Star SME Contactor Line |
| Minimum loan amount | 5 lakh rupees | Rs 10 lakh | Rs 10 lakh |
| Maximum loan amount | One crore rupees | Rs 5 crore | Rs 5 crore |
| Interest Rate | Starting 10.20% | As per the profile of the applicant | As per the profile of the applicant |
Note: The interest rates, fees and charges mentioned are at the sole discretion of the Bank and RBI and may be announced by them at any time. GST and Service Tax may be levied extra on the mentioned charges. You all should be fully aware of this and keep in mind that these are subject to change at any time.
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bank of india loan scheme
- Star Laghu Udyam Sakmat Loan: This loan is offered to small businesses for a maximum full payment period of 5 years with a moratorium period of 3 to 6 months. The loan is offered to small businesses as a demand and term loan to meet investment and working capital requirements.
- Star SME Liquid Plus: This is a term loan offered to proprietorship and partnership firms that qualify to be SMEs. The loan is given to meet the business requirements for at least 3 years. To apply for this loan, one must have made a profit for the last two years. There are other details about it which you can read by visiting this official website.
- Star SME Contractor Line: This loan is given only to meet the working capital needs of civil contractors, current contractors, engineering contractors, transport contractors etc. If you want more information about it, you can read by visiting the official website of Bank of India.
Note: The information is not 100% correct and this information can be changed from time to time, you should take special care of this. To get more information, you can contact by visiting the official website or you can take advice from any government employee, but this information can be changed from time to time, you should take special care of this.
