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i-MSME Express

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Overview

i-MSME Express Product is a key technological advancement has been launched and to be used by the bank to digitally process MSME loan proposals without manual intervention. Direct processing of loans is set up to different stages i.e. In-principle approval stage, Sanction stage and disbursement of loans (end-to-end digitization).

Bank has now introduced a digital platform exclusively for GST registered Customers under i-MSME Express digital Journey (Loan Amount from Rs. 1.00 Lakhs & upto Rs 25.00 lakh). This platform enables existing to bank customers to avail loan above Rs.1.00 Lakh and upto Rs.25.0 Lakh through mobile and web application interfaces in a self-service mode.

The i-MSME Express is designed to provide quick and easy access to credit for MSMEs leveraging their GST registration and transaction data.

Features

Sanction Process It will be end to end digital process .
Security Nil
Target Clientele All potential and existing MSME customers
Facility Offered Cash Credit
Amount Minimum: Rs. 1 Lakh
Maximum: Rs. 25 Lakhs
Tenure 12 Months
Advantages

The i-MSME Express is an initiative designed to provide quick and easy access to credit for MSMEs leveraging their GST registration and transaction data.

Documents Required

Business A/c Statement for minimum 1 completed year in PDF format (for other Bank Accounts).

Please upload Bank A/c Statement corresponding to filed GST returns.

GST & ITR credential.

PAN & Aadhaar of Promoters.

Business PAN of Entity/ Sister concerns.

Udyam Registration number of Business.

How to Apply

1

Apply with business PAN Or existing IDBI bank account number upload latest ITR, and provide GST details through GSTN consent.

2

System automatically verifies identity, income, and business revenue.

3

Loan eligibility is assessed through automated processing.

4

Application is approved or rejected based on the assessment.

Nodal Grievance Redressal

IDBI Bank is committed to providing excellent customer service. For any grievances related to the i-MSME product, please contact our Nodal Grievance Redressal Officer:

Shri Deepak Bhaskar Shejwal
Designation: DGM

For escalated grievances, customers may also contact the Banking Ombudsman as per the Reserve Bank of India's Integrated Ombudsman Scheme.

Please visit https://sachet.rbi.org.in/ to verify financial entities and report / track any scams

LSP (Loan Service Provider)

Present LSP Is Score Me.

Data Policy Update

IDBI Bank is committed to protecting the privacy and security of your data. Our data policy outlines how we collect, use, and protect your information.

  • We collect data necessary for processing your loan application and providing related services.
  • We use your data to assess your creditworthiness, manage your loan account, and comply with regulatory requirements.
  • We implement robust security measures to protect your data from unauthorized access and disclosure.
  • We may share data with authorized third parties for specific purposes, such as credit bureaus or regulatory authorities, with your consent or as required by law.
  • For detailed information please refer to our full data policy document available on our website.

Privacy Policy

IDBI Bank's Privacy Policy details our commitment to safeguarding your personal information.

  • We collect personal information only for legitimate business purposes.
  • We maintain strict confidentiality of your personal information.
  • We provide you with choices regarding the collection and use of your personal information.
  • We adhere to all applicable privacy laws and regulations.
  • For detailed information please refer to our full Privacy Policy document available on our website.

Disclaimer

  • Loan approval is subject to IDBI Bank's credit policies and discretion.
  • Terms and conditions apply.
  • Interest rates are subject to change.
  • Information provided is subject to change. Please refer to the most updated version on the official IDBI bank website.