|
Purpose
|
To
provide hassle free working capital / contingency finance to MSME
units, including conventional industries (Rice Mills, Dall
Mills & Cotton Ginning & Pressing)
|
|
Nature
of Facility
|
Overdraft
Facility
|
|
Eligibility
|
All
Units under MSME segment [ Manufacturing and Services Sector]
|
|
Quantum
of Loan
|
-
SBF
Units: Max:
Rs.10.00 lacs
-
SSI
Units: Max:
Rs.100.00 lacs
-
Conventional
Industries [under SSI segment]:
Max:
Rs.200.00 lacs
-
ME
Units (including Conventional Industries):
Max:
Rs.200.00 lacs
|
|
Assessment
of Limits
|
Limits
Upto Rs. 10.00 lacs: 50%
of the realizable value of the property.
Limits
Above Rs.10.00 lacs:
65%
of the realizable value of the property (or) 20% of the
projected annual turnover (40% for conventional Industries),
which ever is lower.
|
|
Repayment
|
Repayable
on demand, the interest should be serviced within 15 days
after charging
|
|
Security
|
Collateral
: Tangible
collateral security (realizable value of the property) of
minimum of 153% (200% in case of loans upto Rs.10.00lacs) of
loan in the form of equitable/ registered mortgage of land/
building.
|
|
Validity
|
Sanctioned
limit will be valid for a period of 3 years. 1.50% of the
limit should be serviced every month.
|
|
Interest
Rate
|
BPLR
+ 0.50%
|
