An MSME unsecured loan is a financial product designed to provide funding to small and medium enterprises without the need for collateral. These loans can be used for various purposes such as business expansion, working capital, or purchasing equipment.
You can apply for an unsecured MSME loan through banks, financial institutions, or non-banking financial companies (NBFCs).
Interest rates on unsecured MSME loans typically vary depending on the lender and borrower profile, with rates ranging from 12% to 22% annually.
The tenure for an unsecured MSME loan generally ranges from 1 to 5 years, depending on the lender and loan amount.
To update your contact information for an unsecured MSME loan, reach out to your lender directly through their customer service or online portal.