SGB GST BASED BUSINESS LOAN

  1. Home
  2. SGB GST BASED BUSINESS LOAN
  • Eligibility
    • MSME borrowers (New/Existing) All type of Borrowers i.e. Individuals, Proprietor, Partners, Companies, LLPs etc. who are registered under GST. UDYAM Registration is mandatory. NEW Customers with 24 months business operations having 75% of turnover reflected in bank account with CIBIL Score of 650 and above or without credit history reflecting no default/overdue.
  • Purpose
    • To meet Working Capital need of the business of manufacturing, service or trading business.
  • Quantum of finance
    • Rs. 5.00 Lakh & Maximum: Rs. 50.00 Lakh.
  • Margin
    • 25 % on Stocks & 50 % on Book Debts
  • Security
    • a) Primary: Hypothecation of Stock and Book Debts
    • b) Collateral: Immovable Collateral Security or Exposure is to be secured by CGTMSE guarantee coverage.
  • Repayment Period
    • CC: 12 months:Subject to annual Renewal/Review
    • OD (Dropline): Not more than 5 years. Frequency of Dropline OD to be kept Monthly. Annual review to be done for all loans
  • Moratorium
    • Not applicable.
  • Rate Of Interest:
    • 10.50% per annum (subject to change from time to time). For Collateral Coverage =100% of Limit, RoI concession of 0.25% and Collateral Coverage >100% of Limit, RoI concession of 0.50%.
  • Processing Charge/Upfront Fee:
    • As per bank's extent guidelines (subject to change from time to time)
    • Disclaimer:"Kindly contact the nearest branch for more details".