MSME Loan in 59 Minutes

iAbout This Scheme

Launched under the Support and Outreach Initiative for MSME sector in 2018, this scheme enables in-principle approval of GST-registered MSME loans up to ₹5 crore within 59 minutes through an online AI-powered platform. It processes GST, income tax, and bank statement data through an algorithm to provide quick credit decisions.

🎁Key Benefits

• In-principle loan approval within 59 minutes
• Loans from ₹1 lakh to ₹5 crore
• 2% interest subvention for GST-registered MSMEs
• Processed through psbloansin59minutes.com portal
• Available through public sector banks, private banks, NBFCs
• No physical branch visit required for initial approval

✅Eligibility Criteria

• 1
  GST-registered MSMEs
• 2
  Operational for at least 6 months with GST returns filed
• 3
  Minimum business vintage required by participating lenders

📝How to Apply

❓Frequently Asked Questions