Terms & Conditions

By using MSME Shakti's loan services, you agree to comply with and be bound by the following terms and conditions.

1. Definitions

"MSME Shakti", "We", "Us", "Our"
Refers to MSME Shakti Loan Services and its affiliates.
"Borrower", "You", "Your"
Refers to the individual or entity applying for or availing loan services.
"Loan"
Refers to the financial assistance provided under MSME schemes.

2. Eligibility Criteria

To be eligible for our loan services, you must:

  • Be a registered MSME under the Government of India's definition
  • Have a valid business registration certificate
  • Meet the minimum turnover requirements as specified
  • Have a satisfactory credit history
  • Provide all required documentation

Note: Meeting eligibility criteria does not guarantee loan approval. All loans are subject to verification and credit assessment.

3. Loan Application Process

3.1 Application Submission

By submitting a loan application, you:

  • Agree to provide accurate and complete information
  • Authorize us to verify the provided information
  • Understand that false information may lead to application rejection or legal action

3.2 Processing Fees

All loan applications require payment of non-refundable processing fees as specified at the time of application.

3.3 Approval Process

Loan approval is subject to:

  1. Document verification
  2. Credit assessment
  3. Business viability evaluation
  4. Scheme-specific requirements

4. Interest Rates & Charges

All loans will be subject to:

  • Interest rates as specified in the loan agreement
  • Processing fees and other applicable charges
  • Penal interest for late payments
  • Prepayment charges where applicable

Important: Interest rates are subject to change based on RBI guidelines and market conditions. The final rate will be communicated in your loan agreement.

5. Repayment Terms

5.1 Repayment Schedule

Repayment terms will be:

  • Specified in your loan agreement
  • Based on the loan amount and tenure
  • Subject to the scheme guidelines

5.2 Default Consequences

Failure to repay as agreed may result in:

  • Penalty charges
  • Negative impact on credit score
  • Legal recovery proceedings
  • Ineligibility for future loans

6. Privacy & Data Protection

We collect and process personal data in accordance with our Privacy Policy. By using our services, you consent to:

  • Collection of personal and business information
  • Credit checks with authorized bureaus
  • Sharing information with regulatory authorities as required by law
  • Use of data for service improvement

7. Limitations of Liability

MSME Shakti shall not be liable for:

  • Any indirect, incidental, or consequential damages
  • Delays or failures due to circumstances beyond our control
  • Changes in government policies affecting loan terms
  • Business decisions made by the borrower

8. Governing Law & Dispute Resolution

These terms shall be governed by Indian law. Any disputes shall be subject to the exclusive jurisdiction of courts in [Your City], India.

9. Amendments

We reserve the right to modify these terms at any time. The updated version will be posted on our website.

Contact Information

For any questions regarding these Terms & Conditions, please contact:

Legal Department
MSME Shakti
Email: legal@msmeshakti.in
Phone: +91-XXXXXXXXXX

Effective Date: January 1, 2025