MSME term loan interest rates today
Updated 8 Nov, 6:30 am · 30 lenders · RBI repo rate 5.50% · Lowest: 8.20% p.a. at Canara Bank
See the rate you would actually getFree · no credit-score enquiry · lender-wise amount, rate and EMI
Check my eligibilityMSME term loan rates – November 2026
| Lender | Type | Rate (p.a.) | Up to | Source |
|---|---|---|---|---|
| Canara Bank Canara MSME Term Loan / Cash Credit | Public Sector Bank | 8.20% – 10.60% | ₹50 Cr | Our lender list checked 25 Oct 2026 |
| State Bank of India SME Term Loan / Cash Credit | Public Sector Bank | 8.25% – 10.50% | ₹50 Cr | Our lender list checked 25 Oct 2026 |
| Punjab National Bank PNB MSME Term Loan / Cash Credit | Public Sector Bank | 8.25% – 10.75% | ₹50 Cr | Our lender list checked 25 Oct 2026 |
| Union Bank of India Union MSME Term Loan / Cash Credit | Public Sector Bank | 8.25% – 10.75% | ₹50 Cr | Our lender list checked 25 Oct 2026 |
| Bank of Baroda Baroda MSME Term Loan / Cash Credit | Public Sector Bank | 8.45% – 15.85% | ₹50 Cr | Bank of Baroda website read 8 Nov, 6:30 am |
| HDFC Bank Secured Business Loan / Working Capital | Private Bank | 8.75% – 11.50% | ₹50 Cr | Our lender list checked 25 Oct 2026 |
| ICICI Bank MSME Secured Term Loan / Cash Credit | Private Bank | 8.75% – 11.50% | ₹50 Cr | Our lender list checked 25 Oct 2026 |
| Axis Bank MSME Term Loan / Cash Credit | Private Bank | 9.00% – 11.50% | ₹50 Cr | Our lender list checked 25 Oct 2026 |
| Kotak Mahindra Bank Secured Business Loan / Working Capital | Private Bank | 9.00% – 12.00% | ₹25 Cr | Our lender list checked 25 Oct 2026 |
| Consortium of banks (lead: SBI, Bank of Baroda, PNB or Canara Bank) Consortium term loan / working capital | Public Sector Bank | 9.10% – 10.90% | ₹2000 Cr | Our lender list checked 25 Oct 2026 |
| Kotak Mahindra Bank Business Loan (collateral-free) | Private Bank | 9.50% – 30.50% | ₹75 L | Kotak Mahindra Bank website read 8 Nov, 6:30 am |
| Shriram Finance Secured Business Loan | NBFC | 10.00% – 18.00% | ₹5 Cr | Our lender list checked 25 Oct 2026 |
| SIDBI Direct Term Loan / Working Capital (MSME) | Development FI | 10.50% – 13.25% | ₹25 Cr | SIDBI website read 8 Nov, 6:30 am |
| Aditya Birla Housing Finance Loan Against Property – GST Programme | Housing Finance Co. | 10.50% – 14.00% | ₹5 Cr | Our lender list checked 25 Oct 2026 |
| HDFC Bank Business Loan (collateral-free) | Private Bank | 10.75% – 22.50% | ₹75 L | Our lender list checked 25 Oct 2026 |
| AU Small Finance Bank Secured Business Loan | Small Finance Bank | 11.00% – 16.00% | ₹5 Cr | Our lender list checked 25 Oct 2026 |
| Ujjivan Small Finance Bank MSME Loan | Small Finance Bank | 12.00% – 18.00% | ₹2 Cr | Our lender list checked 25 Oct 2026 |
| Tata Capital Business Loan | NBFC | 12.00% – 30.00% | ₹75 L | Tata Capital website read 8 Nov, 6:30 am |
| IDFC FIRST Bank Business Loan (collateral-free) | Private Bank | 12.99% – 23.49% | ₹75 L | IDFC FIRST Bank website read 8 Nov, 6:30 am |
| ICICI Bank Business Loan (collateral-free) | Private Bank | 13.00% – 17.50% | ₹1 Cr | ICICI Bank website read 8 Nov, 6:30 am |
| Axis Bank Business Loan (collateral-free) | Private Bank | 14.00% – 24.00% | ₹75 L | Our lender list checked 25 Oct 2026 |
| Bajaj Finance Business Loan | NBFC | 14.00% – 23.50% | ₹80 L | Bajaj Finance website read 8 Nov, 6:30 am |
| Aditya Birla Capital Business Loan (Udyog Plus) | NBFC | 14.00% – 25.00% | ₹50 L | Our lender list checked 25 Oct 2026 |
| Poonawalla Fincorp Business Loan | NBFC | 15.00% – 25.00% | ₹75 L | Poonawalla Fincorp website read 8 Nov, 6:30 am |
| HDB Financial Services Business Loan | NBFC | 15.00% – 28.00% | ₹50 L | Our lender list checked 25 Oct 2026 |
| Shriram Finance MSME Business Loan | NBFC | 15.00% – 26.00% | ₹25 L | Our lender list checked 25 Oct 2026 |
| Lendingkart Business Loan (digital) | NBFC | 15.00% – 30.00% | ₹2 Cr | Our lender list checked 25 Oct 2026 |
| Indifi Technologies Business Loan (digital) | NBFC | 15.00% – 28.00% | ₹50 L | Our lender list checked 25 Oct 2026 |
| FlexiLoans Business Loan (digital) | NBFC | 15.00% – 30.00% | ₹50 L | Our lender list checked 25 Oct 2026 |
| NeoGrowth Credit Retailer Loan (repaid from card/UPI sales) | NBFC | 18.00% – 30.00% | ₹75 L | Our lender list checked 25 Oct 2026 |
Rates are the lenders’ published ranges for new loans. The lender decides the final rate at sanction. Sorted by lowest starting rate.
What decides your msme term loan rate
- Public sector banks link MSME rates to their repo-linked benchmark (EBLR / RLLR) plus a spread set by your internal rating
- For micro and small units, banks cannot ask for collateral on loans up to ₹20 lakh (RBI, from 1 April 2026)
- CGTMSE cover lets banks lend up to ₹10 crore without collateral, for a guarantee fee
- Audited financials, DSCR of 1.25 or more and a clean credit record get the lowest spread
Common questions
Which lender has the lowest msme term loan interest rate today?
As on 8 Nov 2026, the lowest starting rate in our comparison is 8.20% p.a. at Canara Bank (Canara MSME Term Loan / Cash Credit). The rate you are offered depends on your credit score, income and the lender’s own grading of your profile.
How current are these rates?
8 of the 30 lenders in this table are read directly from the lender’s website twice a day, at 6:30 am and 2:30 pm. The others come from our lender list, with the date each was last checked.
Will I get the lowest rate shown?
The starting rate is for the strongest profiles. Check your own eligibility on Funding Desk to see the rate and amount each lender is likely to offer you – it does not affect your credit score.