The Tamilnadu Industrial Investment Corporation Ltd
(A Government Of Tamil Nadu Undertaking)
The Growth Catalyst

Frequently Asked Questions

What is TIIC?

Tamilnadu Industrial Investment Corporation Ltd. [TIIC] is a premier State Financial Corporation established in the year 1949. TIIC fosters industrial development in Tamil Nadu by providing financial assistance to industries for purchase of land, machinery and construction of buildings. TIIC provides financial assistance at competitive interest rates for setting up of new industrial units and for expansion / modernization / diversification of existing industries in Tamil Nadu. It also offers loan for service sector projects such as hotels, hospitals and tourism related projects.

What is the geographical presence of TIIC?

TIIC having its Head Office at Nandam Chennai, working with a wide network of 25 Branch Offices and 6 Regional Offices.

What is the definition of MSME?


Revised Classification applicable w.e.f 1st July 2020
Composite Criteria: Investment in Plant & Machinery/equipment and Annual Turnover. Manufacturing Enterprises and Enterprises rendering Services
Classification Criteria
Micro  Investment in Plant and Machinery or Equipment:
Not more than Rs.1 crore and Annual Turnover ; not more than Rs. 5 crore
Small  Investment in Plant and Machinery or Equipment:
Not more than Rs.10 crore and Annual Turnover ; not more than Rs. 50 crore
Medium  Investment in Plant and Machinery or Equipment:
Not more than Rs.50 crore and Annual Turnover ; not more than Rs. 250 crore

For more details in this regard kindly visit

Where should I register as MSME concern?

All MSME concerns shall register for  “Udyam Registration” from

Whether loan can be applied in any of TIIC’s Branches?

Yes. Normally, Customers are requested to apply in the concerned Branch Office of the particular District. However, for the convenience in operation of the loan account by the customer, subject to the approval of the competent authority, the loan may be applied in other Branches too.

Why should an entrepreneur seek TIIC's services?

TIIC is a premier State Financial Corporation with more than 73 years of expertise in MSME lending and a Government of  Tamil Nadu undertaking entity. All the processes are transparent and reliable. Also TIIC is a nodal agency for disbursement of various State/Central Governement’s Incentives. Hence, it will be a one stop solution for the entrepreneur who seeks loan.

Whom should I contact for general loan enquiries?

You can submit your loan enquiry through Loan Enquiry tab of our website/ mobile application. Also you can contact the concerned Branch Office.

What Kind of loans does TIIC offers?

Basically, TIIC offers Term Loan under various schemes, mainly for purchase of Land, Plant & machinery, construction of buildings and creation of current assets . For more details kindly visit our schemes page

Apart from the loans and other banking facilities, does TIIC provide any guidance to MSME entrepreneurs?

Even though the main activity of TIIC is to provide financial assistance to the entrepreneurs, it also provides hand holding support to the entrepreneurs.

What is the process for getting loan from TIIC?

The prospective entrepreneur who intends to avail loan from TIIC may apply online/submit duly filled application in Branch Office along with the registration/processing fee and particulars listed in the checklist. The respective Branch will process the loan application as per the prevailing guidelines of the Corporation.

What is the minimum and maximum quantum of finance?

TIIC extends loan from Rs.5 Lakh to Rs.30 Crore.

What are the documents required for availing Loan?

The documents required along with the application vary as per the customer profile and scheme. However some of the basic documents required are Financial results and ITR for the last 3 years, Quotations for Machinery proposed to purchase, Collateral property documents etc. For more details kindly go through the Application process tab

How do I provide feedback on TIIC services?

TIIC ensures fullest satisfaction to their customers and welcomes feedback and suggestions. In order to provide feedback/suggestions, kindly visit feedback tab in the home page

Do you accept Rural/ Agricultural property towards collateral security?

Generally, we do not accept rural/agricultural properties as collateral security, except in cases where the properties offered as collateral security are highly marketable.

Will you accept property located outside Tamil Nadu as collateral security?

Yes. Property located outside Tamil Nadu can be accepted as collateral security, in case the entrepreneur hails from States other than Tamil Nadu and does not have any property to offer in Tamil Nadu. The property should be within the urban municipal areas of other States. Acceptance of such property as collateral security is subject to the approval of the competent authority of the Corporation.

Does TIIC finance for project outside Tamil Nadu?

Projects set up in the Union Territory of  Pondicherry can be taken up for consideration subject to NOC from PIPDIC.

Do you finance Working Capital loan to a new unit?

TIIC considers both Term Loan and Working Capital facility to new units under the special scheme viz. Single Window Scheme.

Whether TIIC provides Cash credit / Over draft facility?

TIIC provides only Working Capital Term Loan assistance for working capital requirements where the principal to be repaid alongwith the interest on monthly basis.

Do you provide Working Capital Term Loan to non-customers of TIIC?

Yes. We are operating the Working Capital Term Loan scheme for financing of working capital requirement of the existing non assisted units of TIIC, satisfying our eligibility criteria.

Does TIIC finance for Second Hand Machinery?

Second Hand Machinery as under will be considered for financing by TIIC.
i.Machinery indigenously manufactured by Standard Companies and used locally.
ii.Machinery imported as new from foreign manufacturers and used locally.
iii.Second Hand Machinery, imported directly. Machinery should have a residual life of at least 10 years and same should be certified by a Chartered Engineer

Is there any provision available for tracking my loan application?

Yes. The application can be tracked through the Track Your Application option in the home page which will provide the real time status of your application

Will the assets (land/ building) for which the loan is obtained be accepted as collateral?

No. Assets financed by TIIC constitute the primary security. Additional property will have to be furnished for the purpose of collateral security.

What is the Prevailing rate of interest for loans offered by TIIC?

Click here for current rate of interest. Government of Tamil Nadu provides 3%/6% interest subvention to MSMEs availing loans from TIIC which facilitates us to provide loans for certain schemes with less than 7% interest rate subject to our eligibility criteria.

Is the Interest rate fixed or floating?

Our interest rate is floating and revised depending on the cost of funds.

What is the frequency and mode of repayment?

The frequency of repayment is monthly for both principal and interest and same may be paid through pay online tab from the website/Mobile App or NEFT/RTGS/IMPS transfer or by way of Cheque/ Cash.

What is the repayment tenure of the loans?

The repayment tenure varies from 42 to 108 months including holiday / moratorium period, ranging from 3 to 24 months depending upon the scheme. For more details kindly go through the Scheme section

Does TIIC provides subsidy / Incentive?

TIIC is a Nodal agency for operating various Central / State Government incentives / subsidies including interest subvention subject to the guidelines laid down by the respective Governments.

What are the subsidy schemes available for MSME?

TIIC being a Nodal Agency provides both Central/ State Governments’ subsidy / incentives viz Capital Investment Subsidy depending upon area/ product / weaker sections.

For more details kindly go through this link for Central Government subsidy and this link  for State Government subsidy.

Whether TIIC provides incentives for Mega Projects?

TIIC is the Nodal Agency for   Non MoU Projetcs with investments below Rs.300 crore and projects implemented after 18.11.2013 and provides back ended capital subsidy  in the range of Rs.30 lakh to Rs.3 Crore per project , environment protection infrstructure subsidy @ 25% on the Cost of equipments restricted to Rs. 30 lakhs and soft loans/ Investment Promotion subsidy for C category Districts.

For Further details click here

What is the process for applying subsidy?

A separate application to be submitted along with the application fees for Subsidy. As per the guidelines of the Subsidy scheme, TIIC will submit Subsidy claim to the Government and subsidy amount will be released and adjusted to Term Loan on receipt of funds from the Government.

Is there any special scheme for First generation Entrepreneurs?

Yes. Government of Tamilnadu, has introduced a special scheme named ‘New Entrepreneur-cum-Enterprise Development Scheme” in which the promoter’s contribution will be in the range of 5% to 10%  on the project cost with  25% of capital investment subsidy on land buinding and machinery subject to a maximum of Rs.75.00 lakhs as per the operational guidelines of the scheme. TIIC is the Nodal Agency for operating the Scheme including subsidy.

For more details refer NEED Scheme

How do I apply for NEED Scheme?

District Industries centre of the concerned district is the nodal agency for processing application. An online application should be submitted in the NEEDS portal  for applying under NEED Scheme.

How much Borrower Margin Money or Promoters’ contribution is to be brought in by the customer ?

Borrower Margin Money or Promoters’ contribution required for availing loan ranges from 5% to 35% depending upon the type of the scheme.

For more details please go through the Scheme section.


What is the minimum value of collateral Security to be provided?

Collateral requirement starts from as low as 20% of Loan amount depending upon the type of the scheme and customer profile.

For more details kindly go through the Scheme section 

Whether collateral property offered for a concern can be used for its group concern?

Yes. Collateral property provided by a concern can be used for collateral coverage required for their group concern subject to  coverage available for the extant of requirement of collateral for the proposed project.

Whether third party collateral is accepted?

Yes. Third party collateral owned by close blood relations will be accepted. However, the properties offered by other persons will be accepted(Except for Working Capital Term Loan) subject to the prevailing conditions of the Corporation.

Does TIIC operates in Social media?

Yes. TIIC is having a strong social media presence and you may like/subscribe our pages for getting regular updates.

How do I calculate EMI for required loan amount?

In order to provide ease of calculating the EMI for a particular loan amount, an EMI calculator has been provided Loan Calculator.
Kindly utilize the calculator for calculation of EMI.

Whether TIIC finances for purchase of SIPCOT/SIDCO Plots?

Yes. TIIC provides finance for purchase of SIPCOT/ SIDCO plots as a part of total project.

Where do I see my loan account details?

Kindly visit the Customer corner to see the details of the loan.

Is there any facility available to view auction sale details?

Yes. Kindly visit e-Auction tab  in the online services for viewing               e-Auction sale details and participation in the e-Auction.