Purpose

To meet all the needs of a Small & Medium Business Enterprises

Eligibility

The borrower(s) should be local resident for over 3 years.

The borrower can be an individual or sole proprietorship or partnership firm or private limited companies

Should be earning profits for the last 3 years (Not applicable in case of new ventures)

Eligible Activities

1. Interior decoration / renovating / repairing of the business premises
2. Acquiring the business premises
3. Purchasing of necessary equipments like Air Conditioner, Refrigerator, Water Cooler, Generator, etc.
4. Purchasing of business equipments, office equipments, furniture computers, etc.,
5. Liquidating high cost borrowings taken from other banks.
6. Purchase of vehicle for business (Two wheelers / Three wheelers – Tempos /Four wheelers trucks)
7. Installation of advertising hoardings, equipments etc.
8. Working Capital requirements
9. Personal Loan

Repayment Period

Composite loan - 3 to 7 years

Concessions

If the borrower takes finance for any two items or more, stated in the list of nine eligible activities, the following concessions will be provided.
•  25% of normal exchange / commission will be charged on remittances / SC/LSC Cheque / Bill etc.

· ½ % reduction in applicable rate of interest will be provided.

NO PROCESSING CHARGES