Thank you for your interest in Personal Loan from ADITYA BIRLA FINANCE LIMITED. Unfortunately, we do not have a tie-up with ADITYA BIRLA FINANCE LIMITED currently.
Talk to our experts to apply for a similar offer from our partner banks instead
Thank you for your interest in Personal Loan from ADITYA BIRLA FINANCE LIMITED. Unfortunately, we do not have a tie-up with ADITYA BIRLA FINANCE LIMITED currently.
Talk to our experts to apply for a similar offer from our partner banks instead
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Earn more than minimum income
Maximum allowed personal loan is Rs. 10K to Rs. 45 lakhs
EMIs of other loans lower
Pay off your credit card bills
Choose longer tenure loan up to 5 years
|Interest Rate (Monthly reducing balance)||10.85% - 37.00%|
|Processing Fees||Varies with bank|
|Loan Tenure||1 year to 5 years|
|Pre-closure Charges||Varies with bank|
|Guarantor Requirement||Varies with bank|
Personal loan is a popular financial loan instrument providing assistance for any immediate financial need. Personal loans are non-collateral loans offered by almost all public sector banks and private banks to leverage any financial crisis. Quick approval with minimal documentation and loan disbursal as quick as one day makes personal loan a widely popular financial instrument.Unlike in the past, a borrower seeking personal loan does not need to be physically present in the bank branch to request for a personal loan. With the use of technology and internet, personal loans can now be applied online with a quick approval process of less than one working day. Wide quantum of loan amount, flexible loan tenure and easy availability makes personal loans a viable financial instrument for people of all financial backgrounds when faced with a financial crisis.
A temporary financial crisis can happen to anyone irrespective of his or her overall financial status. Personal loans are a great way to offset any such temporary financial crisis as it allows the users to avail a loan without any pre conditions on the usage of funds. Personal loans have a quick approval mechanism with loans getting cleared as early as within 24-48 hours of the loan application submission.
BankBazaar.com, India's premier financial market place has collaborated with various public sector and private banks to offer customized personal loans for it's users. Users can apply for a personal loan online using BankBazaar.com online loan request tool.
Easy Eligibility Check: The loan calculator tool at BankBazaar.com checks for the user’s personal loan eligibility instantly. The tool also offers customized quotes for all eligible users as per their financial credit history and eligibility criteria.
Instant Quotes: The eligible loan applicants are offered instant quotes customized as per their profile and with a discounted interest rate.
Real time Loan Comparison: BankBazaar.com also offers a simple online personal loan comparison tool allowing users to compare the loan offers of various banks. Feedback shared by previous successful personal loan applicants acts as a helpful tool for new applicants to get the best personal loan deal.
Instant e-Approval: The applicant gets an instant e-approval after successfully submitting his or her personal loan application.
Assured Privacy: All personal loan applications submitted with BankBazaar.com are sent electronically to the concerned bank department assuring complete privacy and transparency.
Applying for a personal loan at BankBazaar.com involves three simple steps :
Step 1: In the first step, the user must fill the personal loan eligibility form available online with required personal data. Once submitted the personal loan tool automatically checks for eligibility of the applicant and personalized personal loan options.
Step 2: In the second step, the applicant can compare various personal loan options offered by the tool interface and apply for the best suitable loan.
Step 3: The last step involves receiving an instant e-approval from BankBazaar.com after successful submission of personal loan application online.
The application is sent electronically to the selected bank. The loan department of the concerned bank gets in touch with the applicant directly. Users can check the status of their loan application through SMS alters as well as emails.
|Bank/NBFC||Rate of Interest||Loan Processing Charges||Prepayment/ Forclosure Charges||Cheque Bounce Charges|
|Axis Bank||15.50% to 24%||1.50% to 2.00% + Service Tax as applicable||Nil||Rs. 500 per cheque bounce + Service Tax as applicable|
|SBI||Personal Loans Scheme (SBI Saral): 8. 50% above Base Rate floating||2.02%-3.03% of the loan amount.||Nil||NA|
|HDFC Bank||15.75% to 20%||Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 25000/- for Salaried Customers.||Salaried - 13-24 Months - 4% of Principal Outstanding, 25-36 Months - 2% of Principal Outstanding >36 Months - NIL||NA|
|Bajaj Finserv||16%||2% - 3% of the loan amount||Nil||Rs. 1,000 for every bounce|
|ICICI Bank||13.99% to 18.00%||Up to 2.25% of loan amount plus Service Tax||The lower of the two amounts given below: 1) 5% of principal outstanding or 2) Interest outstanding for the unexpired period of the loan.||NA|
HDFC Bank is a market leader in personal loans offering a Personal Accidental Cover of up to 8 Lakhs along with a Critical Illness cover of 1 Lakhs with each personal loan. HDFC Personal Loan starts as low as 15.75% interest rate for salaried individuals. HDFC Bank offers a high quantum of personal loan with a complete removal of any prepayment charges after a period of 36 months. HDFC Bank offers pre approved personal loans up to Rs. 3 Lakhs for women personal loan applicants along with free access to lifestyle diva products and services.
ICICI Bank personal loans are available for both salaried as well as self-employed individuals and professionals. Salaried individuals can get a maximum personal loan up to Rs. 15 Lakhs while self-employed individuals can get a loan up to Rs. 30 Lakhs. ICICI Personal Loan starts with as low as 13.99% interest rate.
Bajaj Finance Limited is one of the most popular non-banking financial companies offering personal loans up to Rs. 25 Lakhs for salaried individuals. Bajaj Finserv (Finance) Personal Loan starts from as low as 16% interest rate for salaried individuals. Bajaj Finserv allows prepayment up to 6 times in a calendar year with a minimum amount per prepay exceeding 3 EMIs. Bajaj Finserv offers a 24/7 customer support helpline including toll free number, emails and SMS allowing users to get in touch with the company to resolve their grievances at the earliest.
State Bank of India, the largest public sector bank of the country is one of the most preferred banks when it comes to personal loans. SBI offers personal loans for both salaried and self-employed individuals. State Bank of India offers a personal loan up to 12 times the net monthly income for salaried individuals and pensioners subject to a ceiling of Rs.10 Lakhs. State Bank of India has streamlined it's personal loan division allowing for quick loan approval and disbursal. SBI Personal Loan schemes are offered at lucrative interest rates for various working professionals and salaried individuals from time to time.
Axis Bank is a popular choice for personal loans as the bank aims to give personal attention to each loan applicant. The quantum of personal loan amount for Axis Bank Personal Loan is highest in it's class fixed at an upper limit of Rs 15 Lakhs. Axis Bank offers personal loans at a competitive interest rate ranging from 15.5 to 24% with zero prepayment charges. Axis Bank offers eDGE loyalty points on Personal Loans which can be redeemed for cash surplus and discounts along with multiple repayment options. For any loan related query, Axis Bank has set up a dedicated helpline for loan services available round the clock at the bank's toll free numbers.
BankBazaar.com offers users the opportunity to choose from the best personal loan plans in India as per the borrower’s repayment capacity and choice of tenure. BankBazaar.com offers customized personal loan quotes from various banks and non-banking financial companies. Users can choose the most suited bank or NBFC for their personal loan requests as per it's charges and other features.
Different banks and NBFCs have different minimum documentation requirement for personal loans. The common documents required by most banks and NBFCs for individuals requesting a personal loan include :
Various banks and NBFC’s offer personal loans to all applicants fulfilling their basic eligibility criteria. While different banks have different minimum eligibility criteria, the criteria common for most banks and NBFCs for individuals requesting a personal loan include:
|Age(Min-Max)||23 years to 58 years||28 years to 65 years (25 years for doctors)|
|Income||Rs.17,000 (Rs.25,000 for metro cities)||
|CIBIL Score||Above 750||Above 750|
|Minimum Loan Amount||Rs.75,000||Rs.75,000|
|Maximum Loan Amount||Rs.20,00,000||Rs.15,00,000|
Different banks and non-banking financial companies offer different interest rates for personal loans. Most banks have their own unique different classification based on which interest rates are calculated. Personal loan interest rates of various banks vary from 10.85 to 18.50% depending on the eligibility criteria, the loan amount and the tenure period of the personal loan.
|Bank Name||Interest rates|
|SBI||12.5% to 16.5% p.a.|
|ICICI||11.59% to 18.49% p.a.|
|Axis Bank||15.50% to 24% p.a.|
|HDFC Bank||15.75% to 20% p.a.|
|Citibank||14.25% to 19.99% p.a.|
|Standard Chartered||11.99% to 17% p.a.|
|TATA Capital||13.99% to 17.5% p.a.|
|Oriental Bank||11.20% to 12.95% p.a.|
|Capital First||13% to 18.45% p.a.|
|IndusInd Bank||11.25% to 26% p.a.|
|Fullerton India||21% to 40% p.a.|
|Kotak Mahindra||11.5% to 24% p.a.|
|Aditya Birla||14% to 16% p.a.|
EMI calculation for personal loan is now made easy using the EMI calculator available at BankBazaar.com. The Personal Loan EMI Calculator tool allows users the option of changing the loan amount and tenure while calculating the EMI for the personal loan. EMI loan calculator tool is a great option allowing users to see their monthly installment for the loan, helping them to choose the most suitable loan as per their financial budget.
Every organisation or company in the world requires one key ingredient in order to make profits – Money, and the lack of it can hamper the growth of not just a company but also an entire nation. Banks and lending institutions cater to a large chunk of the financial needs in the country, helping players establish themselves. Getting a loan, is however not as easy for someone who does not have access to banks, especially in rural areas. This is where the concept of Microfinance comes into the picture, ensuring that deserving candidates who require small to medium range loans get sufficient amounts to fund their dreams.
With a majority of the Indian population residing in rural areas, access to banks is limited, with microfinance institutions catering to millions. The concept of inclusive growth has made them a reliable ally, contributing towards the development of the community and thereby the nation. These Microfinance Institutions offer loans to people from the lower income group, people who would generally not be in a position to avail loans from major players. The number of Microfinance Institutions in the country is steadily increasing, ensuring that finance isn’t out of reach for members of the society.
Top 10 Microfinance Companies in India 2016
With the number of microfinance institutions increasing on a steady basis, customers are spoilt for choice, with each MFI bringing something unique to the sector. Listed below are the top 10 MFIs in the country.
Borrowers can take a personal loan against Mutual Funds or similar debt instruments. In case your income is lower, the mutual fund investment will make up for the lower income and it also enhances your loan eligibility. The debt instruments are a safer option and less volatile. The rate of interest charged on the loan will be lower than the rates provided for unsecured personal loan. To avail a loan against mutual fund, an application has to be filled by the joint holders of the mutual fund portfolio to seek for a loan. The loan amount sanctioned is a percentage of the value of the units held in the folio on the date of giving the loan. If the borrower defaults on the loan, then the lender can ask for the units in the portfolio to be redeemed. The proceeds will be used to pay the lender.
A. Personal loan is an unsecured loan that is given without any security. The end use of the money is not monitored either.Q. What can I use the Personal loan for?
A. You can take a personal loan to meet any personal financial requirement or to repay your credit card bill, to buy electronic items, to take a vacation or to even meet the expenses of a wedding or any other function.Q. Who can apply for a personal loan?
A. A salaried individual, self-employed professionals and self-employed non-professionals can apply for a personal loan.Q. What is the minimum tenure of a personal loan?
A. Most banks will provide personal loan for a minimum of 1 year.Q. What is the maximum tenure of a personal loan?
A. Most banks will provide personal loan for a maximum of 5 years.Q. What is the eligibility criteria to avail personal loan?
A. The minimum age of the applicant must be not less than 21 years and the maximum age of the applicant at loan maturity must be 65 years.Q. Will the banks charge me a processing fee?
A. Yes, usually the banks charge a processing fee of 2-3 percent on the loan amount. You can however negotiate with the bank to reduce the fee.Q. How can I repay my personal loan?
A. Personal loan can be repaid in equal monthly instalments or EMI. You can provide a post-dated cheque or can give a standing order with your bank or through electronic transfer. Q. What is an EMI?
A. EMI or Equal Monthly Instalment includes principal and interest.Q. Is part- prepayment allowed on my personal loan?
A. Personal loans can be prepaid in parts or fully at any stage. Some banks might charge a prepayment penalty whereas some banks will not. Some banks will not allow the part-prepayment. So, check all the documents before finalising with the bank.Q. Will I need a guarantor to take a personal loan?
A. No, you will not need a guarantor to take a personal loan.Q. Can I club my income with my spouse to take a personal loan?
A. Yes, you can club the income of your spouse to boost your eligibility to avail a personal loan.Q. How much personal loan can I take?
A. The banks do not usually let you take a loan exceeding 30- 40 percent of your net salary.Q. What is the minimum loan limit offered for personal loan?
A. Generally, the minimum amount limit that one can take a personal loan is Rs.1,000.Q. What is the maximum loan limit offered for personal loan?
A. Generally, the maximum loan limit is Rs.15 lakhs.Q. Do I need to submit any security or collateral to take a personal loan?
A. No, you don’t have to provide any security or collateral to take a personal loan.Q. Do I get to choose between a fixed and a floating rate of interest for the personal loan?
A. Yes, you have the option to choose either the fixed or floating rate of interest.Q. What is the rate of interest that will be charged on my personal loan?
A. The interest rate varies from banks to banks and it is within 14-26 percent depending on your profile and the scheme that you opt for.Q. How many days does it take for the bank to disburse the personal loan amount?
A. Banks disburse the loan within 72 hours to 7 working days provided all the documents are in place.Q. Will the banks check my CIBIL score while reviewing my application?
A. Yes, banks refer your CIBIL score and credit report and the minimum CIBIL score requirement is 750+.Q. Will the CIBIL score affect my personal loan interest rate?
A. Yes, the CIBIL score affects the interest rate offered to you. If your CIBIL score is high and if you have a good repayment history, then the bank will offer you a lower interest rate.Q. How will I be eligible for a relationship discount?
A. If you have been a customer for a particular bank for a while, then the bank might reduce the personal loan interest rate or other such charges. Some banks will also provide you additional services.Q. What are the documents required to seek a personal loan application approval?
A. You need to submit an identity proof as well as residence proof, your latest salary slip, form no. 16, last 6 months bank statement and a passport sized photograph that is to be affixed on the application form.Q. Do I need to open a bank account to service my personal loan?
A. If you don’t have a bank account with the bank, it is not mandatory to apply for one. But, if you apply for a loan with your existing banker, then you will be eligible for a relationship discount.Q. How do I stop executives from calling me to let me know about other loans?
A. Some banks let you register yourself for ‘Do Not Disturb’. The executives will not disturb you with cold sales calls.Q: What is the best way to apply for personal Loan?
A: The best way to apply for an personal loan is by using the online loan application tool at BankBazaar.com The tool can be accessed on this page allowing users to choose personal loan from various banks and NBFCS as per their selection.Q: What is the minimum and maximum amount of Personal Loan that I can get?
A: Various banks and NBFC’s offer personal loans ranging from a minimum amount of Rs. 1000 to a maximum amount of Rs. 15 to Rs. 20 Lakhs. The maximum and minimum loan amount depends on the underlying bank as well as the personal financial details of the loan seeker.Q: What is the tenure for which I can avail a Personal Loan?
A: Various banks offer different tenure for personal loans. The most common tenure period offered by majority of banks and NBFCs ranges between 12 to 60 months.Q: Can I Track my Loan Application?
A: BankBazaar.com offers it's loan applicants an active tracking tool through both email and SMS allowing them to track daily updates of their loan application.Q: Is my Data Safe with BankBazaar.com?
A: BankBazaar.com is India’s premier financial market place and takes utmost care in ensuring the all data is sent in electronic form with high level of encryption. BankBazaar.com does not share data with any third party other than the financial institution.Q: Is BankBazaar.com Personal Loan Tool Free?
A: Yes BankBazaar.com personal loan calculator tool is totally free and the portal does not charge any fee for it's services from members.
So you’ve decided to go for that Personal Loan, eh? Hold on there. You’ve probably done everything you need to and that’s great. However, here’s what not to do:1. Resist Temptation
The temptation with loans, particularly if they’re being actively sold to you, is to go for an even bigger sum than you first thought. Not a good idea. Take what you need.2. You’re spending the Money on What?
A Personal Loan to fulfill your whims and fancies – not such a good idea. Save up for that kind of thing. ‘Need’ over ‘want’ is the way to go.3. Definite Rejection
If you know that your Credit Score is low, do not apply just to ‘take a chance’. That’s the most important criteria for getting your loan approved. Another rejected application might just hurt your Credit Score more.4. Don’t pull it
A very long tenure may not be a good idea since this means you pay higher interest. Get your finances in order and pay more every month. Before you know it, the EMIs have been taken care of.
We’ve got your back, always. If you’re ready, take a look at our offers.
There is no better time to take a personal loan than during the “Maha March Bonanza” at the Bank Bazaar website. Choose a personal loan product from any of the participating banks today and get an assured gift voucher from Amazon.
How to participate in the deal
How to use the gift voucher at the Amazon website
Important points to note
Struck by a financial emergency and are looking for a Personal Loan? You can borrow a minimum of Rs. 10,000 and a maximum of Rs. 30 Lakhs, depending on your bank and eligibility. The loan tenure ranges between 12 to 60 months. If you are a salaried applicant, you need to be at least 21 years of age and no older than 58 years at loan maturity, with at least 1 year of service with the current employer and earning at least Rs. 17,500 per month. Self-employed individuals have to be at least 24 years of age and no older than 65 years at loan maturity, with at least 3 years of experience in your current profession, earning at least Rs. 17,500 per month. Keep these documents handy: Proof of Identity (Passport, Pan Card, and Voter ID), Proof of Residence (Passport or utility bills), Bank Statement for the last 6 months, Salary Slip for the last 3 months and Form 16 or proof of Income Tax Returns. If you’re self-employed, you will need: Proof of IT Returns for the last 3 years and Audited balance/income sheet from the last 3 years. Now that you’re a Personal Loan Ninja, compare multiple offers and apply!
Stay up to date! Daily finance news at your fingertips. Explore Personal Loans on Mobile App
22nd August 2016
by BankBazaar posted on March 27th, 2017
One of the leading financial services company, Tata Capital, has launched a new app to offer personal loans with attractive features to the young and internet savvy customers. The app is called “myLoan” and which is which can be downloaded to your phone. This app will produce a real-time assessment of the borrower’s loan application using a unique algorithm that uses the digital, social, and financial data of the customer. The app also allows the customers to tag their social media profiles and obtain a higher score which shows their creditworthiness. Through this app, a customer can avail a personal loan upto Rs.15 lakhs. Veetika Deoras, COO of digital business in Tata Capital, stated that this app has made the personal loan process simple, easy, and convenient.
by BankBazaar posted on March 23rd, 2017
Chatbot Asha is India’s first robot salesperson to hit the market. Launched by Fullerton India, an NBFC of the country, Asha is designed to assist customers in applications and decision making when it comes to personal loans. The bot is available over Facebook Messenger. The chatbot is a self-learning robot that interacts with customers who hold a Facebook account. The bot can help customers apply for their personal loans, submit documentation and get their loans approved immediately. This bot will help eliminate downloading application forms and other hassles. Recently, Fullerton also launched a platform that is designed to nurture innovative ideas. Finnovatica operates in the digital space to attract young talent from 6 premier institutions in India. Another system launched by Fullerton is iLabs, a digital way to induct fresh graduates.
by BankBazaar posted on March 17th, 2017
Federal Bank, one of India’s leading private sector financial organizations, has constantly been striving to offer their customers with tailor-made products. Recently, the bank announced the launch of and a unique personal loan scheme designed exclusively for Public Sector Unit (PSU) and Government employees. In a statement released recently, the bank said that it puts in constant efforts to innovate and design products which cater to the requirements of customers belonging to varying segments. As a part of this exclusive loan scheme, Government and PSU employees will be able to avail personal loans up to the amount of Rs. 15 lakh. Also, the loans will be offered at attractive and affordable interest rates abd can be availed without any hassle.
by BankBazaar posted on March 15th, 2017
State Bank of India has made an announcement today about the launch of a special offer called "One Time Settlement" which is aimed at helping farmers of the country to repay their agriculture loans. The bank had made the announcement through a tweet which stated that the offer is extended to mechanization and tractor loans of 2016-2017. Benefits are available until the 31st of March. State Bank of India has made a similar announcement last year which offered One Time Settlement (OTS) of student loans in the state of Kerala. The government had stated last year in August that loans to the tune of Rs.3,445 crore was settled through OTS till June last year. The Reserve Bank of India has presented the framework through which banks across the country will be allowed to have their own OTS which would be approved by the board.
by BankBazaar posted on March 13th, 2017
The Reserve Bank of India, in line with the new rules incorporated in the Income Tax Act, announced that NBFCs (Non-banking Financial Companies) have to disburse loans to buy gold of Rs.20,000 and above by cheque. Anything below Rs.20,000 can be disbursed by cash. This is a sharp curb from the previous threshold of Rs.1 lakh and above. The move comes in a bid to further curb black money conversion into gold. The government is also trying to emphasise on digital payments rather than cash. 86% of the currency in circulation was rendered illegal tender after old Rs.500 and Rs.1,000 notes were scrapped. Complete remonetisation with the issue of new Rs.500 and Rs.2,000 notes would take a couple of months.
by BankBazaar posted on March 10th, 2017
Prime Minister Narendra Modi announced loans up to Rs.1 crore for small and marginal fishermen enabling them to buy modern boats for fishing in the deep sea. In a public meeting in the Union Territory of Daman and Diu, Mr. Modi said that this scheme is being introduced to allow poor fishermen to fish in the deep sea who cannot do so as they have small boats. He added that under this scheme, the poor fishermen will be asked to form a group in their villages. The group will be given a loan under the MUDRA scheme and the Centre will contribute 50% of the funds towards it. The groups will be granted big fishing boats that can cover over 12 nautical miles, where catch is in plenty. In this case, small fisherman can become a part of such groups and share profits, rather than fishing alone. The PM also said that those having suggestions for improvement in the scheme could convey to the administration of Daman and Diu. He also said that the Government has taken various steps to bring about development in the coastal region of the country. There are plans to invest Rs.8 lakh crore under the Sagarmala Project.
by BankBazaar posted on March 9th, 2017
The government has been taking measures to promote and revive the agricultural sector in the Telangana. As the chief guest of the swearing-in ceremony of the Market Committee of Chityal, G Jagdish Reddy, Minister of Power and SC Development, spoke on the matter. He said that scarcity of fertilizers and seeds have not been an issue in the market due to the measures that the State Government has taken. In previous years, farmers were forced to stand in long lines to procure seeds and fertilizers. But now that has changed. Electricity connections have also been made to ensure farmers get the benefits of electricity. In addition, the crop loan waiver was given in time for farmers to be able to take fresh loans. Chief Minister Chandrashekar Rao also gave the green signal to repair the Dharma Reddy and Pilaipally canals by sanctioning Rs.250 crores for the project. The work is expected to be completed in two years.
by BankBazaar posted on March 7th, 2017
Awards were instituted by the Associated Chambers of Commerce & Industry of India (ASSOCHAM) recently. Corporation Bank managed to win three runner-up awards for excellence in social banking. The bank was recognised for excellence under agricultural banking and priority sector lending. It also bagged the Best Social Bank 2016 under the category of large banks. These awards were designed to celebrate and reward banks who modelled sustainable development and growth along with innovation. It also recognised banks that created values for business and society. Corporation Bank has showed remarkable initiatives and achievements in providing loan products to rural folk, agriculture and allied activities and other micro businesses. In the field of social banking, Corporation Bank set up employment training institutions called COBSETIs under which rural youth who are unemployed can develop their skills and entrepreneurship.
by BankBazaar posted on 24th February, 2017
The microfinance lender Bharat Financial Inclusion launched an instant loan disbursal process on last Wednesday. While launching the service, the company disbursed loans to three women in a village called Devgaon in Jaipur district. Bharati Financial aims to popularize cashless transactions among people in rural areas with the help of digital technology. According to K V Rao, the Chief Operating Officer of Bharat Financial, “Three women were approved instant loans through the technology in Dev village near Bassi”. The company will approve loan after checking the following documents of an applicant - Aadhaar-based identity card, eKYC documents, eSign and credit bureau authentication. The new service is expected to enhance customer satisfaction and cut down operational cost of the company. As reported by Bharati Financial, the service will rolled out throughout the country by June, 2017.
by BankBazaar posted on 23rd February, 2017
SIDBI (Small Industries Development Bank of India) has joined hands with Vijaya Bank to offers concessional loans to small and micro business enterprises in India. The aim of this partnership is to support the MSE segment by offering loans under the MCLR system through Vijaya Bank and offer them refinancing option from SIDBI. They are currently focusing on joint financing or co-financing MSMEs in India and help they meet their capital requirements. They have decided to extend loans to Micro, Small, and Medium enterprises at 9.60% p.a. Interest rate. The MD and SEO of Vijaya Bank, Kishore Sansi, stated that they are actively participate in all scheme that will finance new entrepreneurs such as the “Make in India Scheme” and the “Stand up India Scheme”.