If you are a small or medium class businessman (MSME) and you do not have an MSME Credit Card yet, then now is the right time to get it! In Budget 2025, the government has increased the MSME credit guarantee cover from 5 crores to 10 crores. Its direct meaning is that the limit of MSME Credit Card has now been doubled.
What is MSME Credit Card?
This is a special credit card designed for Micro, Small & Medium Enterprises (MSME). With its help, small businessmen can easily manage their daily business expenses.
What is the new Credit Limit?
Earlier, a loan of up to 3 lakh was available on MSME Credit Card.
Those businessmen who are registered on Udyam Portal, are getting a limit of up to 5 lakh.
After Budget 2025, a limit of up to 10 crore will also be available.
Benefits of MSME Credit Card
✅ Easy to manage business expenses – best option for daily transactions.
✅ Extra Offers & Benefits – Banks and financial institutions give different offers.
✅ Quick Loan Facility – Instant loan approvals will be available.
✅ Benefits of Government Schemes – The government launches new incentives and schemes for the MSME sector.
How to Apply?
1️⃣ Visit the branch of your bank – in which you have your business account.
2️⃣ Check eligibility for MSME Credit Card – talk to the bank officer.
3️⃣ Submit required documents – business registration, PAN, Aadhaar, bank statement etc.
4️⃣ Verification process will happen – documents and business details will be verified.
5️⃣ Card will be issued after approval – if everything is correct then the bank will give you MSME Credit Card.
For whom is MSME Credit Card best?
Small shop owners
Startups and new business owners
Manufacturing and trading business owners
Service-based businesses like salon, coaching centers, repair services, etc.
If your business falls under the MSME category, this credit card can be quite beneficial for you. Apply today and avail the full benefits of government schemes!