| Purpose |
Pre
approved limit for multipurpose needs
-
Expansion & Modernization
-
Substitution of high cost debts / high cost term debts
of other Banks / FIs.
-
Up-gradation of technology & energy conservation
schemes / machinery.
-
Design and introduction of new layouts in the factory to
enhance productivity.
-
Acquisition of software, hardware, consumable tools,
jigs, fixtures etc
-
Acquisition of ISO and other similar
certifications.
-
Business visits abroad for technology,
finalizing business deals,
participating in exhibitions / fairs for market
promotion etc.,
|
| Eligibility Criteria |
Existing
or New Corporate /
Non Corporate
customers of SME
(both
manufacturing and services sector) |
| Nature of
Facility |
Term Loan: |
| Quantum of finance |
Maximum
: Rs.250 lacs for Manufacturing
Rs.100 lacs to Services
|
| Repayment Period |
3 to 5 years |
| Margin |
15% |
| Disbursement |
On different dates within 12 months as per the
requirement |
| Rate of interest |
Applicable to MSME Term Loans |
| Security |
Primary:Hypothecation
/ extension of Hypothecation charge over the current assets and
fixed assets and or Pledge of machinery / assets
Collateral:
-
a.
Extension of charge over current assets
-
b.
tangible collateral security
-
c.
Personal guarantee of Proprietors / partners / promoters
|
| Repayment |
In monthly /
quarterly installments as per cash generation cycle
|
