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.
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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
