MSME's Loans
Highlights
|
Facilities Offered |
-Cash Credit - Term Loan - Short Term Loan - LC backed Bills Discounting - Letter of Credit (DP-DA up to 90 days) - Bank Guarantee |
|
Who is Eligible |
Entities (engaged in manufacturing or services) who fit under the guidelines of Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 as given below in Table 1. |
|
Min. Exposure |
Rs. 25.00 lakhs |
|
Max. Exposure |
Rs. 250.00 lakhs |
|
Rate of Interest |
Minimum 11.00% p.a. Maximum 15.00% p.a. |
|
Primary Security |
Assets created out of bank finance. (The same will vary depending on the loan facility availed). |
|
Collateral Security |
75% of the Limit/Loan Amount/facility availed except for Short Term Loan where collateral security is 100% of the loan amount. |
|
Guarantor |
Two guarantors having a regular source of income including any family members business stake holders |
|
Nature of facility |
Cash Credit |
|
Eligibility |
Individuals /Proprietorship Concerns /Regd. Partnership firms/ Pvt.Ltd.Cos./Ltd.Cos.; engaged in Trading activity /Service Providers |
|
Purpose |
Working Capital |
|
Loan Amount |
Upto Rs.10 lakhs |
|
Rate of Interest |
13.00% P.A |
|
Security |
Hypothecation of stock and Book Debts Collateral Min. 30% of Loan Amount |
|
Nature of facility |
Cash Credit |
|
Eligibility |
Individuals /Proprietorship Concerns /Regd. Partnership firms/ Pvt.Ltd.Cos./Ltd.Cos.; engaged in Trading |
|
Purpose |
Working Capital |
|
Loan Amount |
Upto Rs.20 lakhs |
|
Rate of Interest (based on internal credit rating) |
12.50% for Onwords |
|
Security |
Hypothecation of stock and Book Debts Collateral min. 40% of Loan Amount -for new customer Collateral min. 35% of Loan Amount -for existing customer |
