How to avail 2% rebate on OD interest against MSME Registration Certificate

[RAMAKRISHNA M]

Good Evening Every All,

We are registered under MSME and our organisation had taken Overdraft facility from ICICI Bank.

Understand that we are eligible for 2% rebate on OD interest.

How to avail this 2% from Bank since Bankers doesn't know this process till now.

Kindly suggest.

thanks & regards,

Ramakrishna

8555068096

[DR.MARIAPPAN GOVINDARAJAN]

MSME is eligible to avail 2% discount of interest on smart loans. The loan option for GST registered firms will now be available through the GST portal itself. "When you file GST returns, you will be asked if you want a loan. GST registered firms will also get a 2 % interest subvention on fresh or incremental loans.

AI Summary

MSMEs Can Avail 2% Interest Rebate on Overdraft Loans via GST Portal; ICICI Bank Clarifies Eligibility Process An organization registered under MSME inquired about availing a 2% rebate on overdraft interest from ICICI Bank, noting that the bank was unaware of the process. A response clarified that MSMEs are eligible for a 2% interest discount on smart loans. GST-registered firms can access this benefit through the GST portal, where they will be prompted about loan options during GST return filing. The rebate applies to fresh or incremental loans, offering a 2% interest subvention for eligible firms.