Magma Fincorp SME Loans | Interest Rates | Documents | Eligibility

Magma Fincorp SME Loans: Get Details on Processing Fees, Interest Rates, Documents, EMI, Eligibility, And other paper works required for SME loans.

₹ 273,923 crores worth of Personal Loan Applications received! (last updated on 21 November 2024)

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Loan Amount

Employment Status

City


Features and benefits of Magma Fincorp SME Loans-

  • Loans with no primary or collateral security requirements.
  • Loans from Rs. 7 lakhs to 2 crores – the largest collateral-free loans in India.
  • Loans for a wide range of businesses and purposes.
  • Loan terms ranging from 12 to 36 months.
  • Flexible documentation.
  • Quick processing.
  • End-to-end doorstep service.
  • Competitive interest rates.
  • Well trained and knowledgeable Sales Managers assigned for each proposal.

Interest Rates – Starting at 16%

Documentation Charges: Upto 2.50% depending on Loan amount and other parameters.

Eligibility Required for magma SME Loans:

Proprietors, partners, private limited companies, closely held limited companies, listed companies, trusts and societies are all eligible for SME loans from Magma

  • At least five years of operations for the business
  • Minimum turnover of Rs. 40 lacs in the manufacturing and trading industries, and Rs.15 lacs in the service industry.
  • Cash profit for the previous two years.
  • Clear banking and loan payment history.
  • Positive business net worth.
  • Demonstrated growth in turnover.
  • Flexible and customized loan payment options.

Segments Which Are Eligible

Manufacturers

Service providers

Traders

Includes all major sectors including engineering, automobiles, chemicals, pharmaceuticals, dairy, packaging, food, agricultural products,fertilizers jewellery etc.

Includes hospitality, logistics, clearing and forwarding, education, doctors, engineers, chartered accountants, consultants, private and government contractors, healthcare.

All types of retailers, wholesalers, stockists, super-stockists and distributors.

 

Available Loan Products of Magma Fincorp