SME Special

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  • Eligibility
    • The chief promoter /chief executive should be 18 to 65 years of age.
    • The applicant must obtain a minimum overall score of 60% with a minimum of 50% under each sub-head like Personal details, Business details and collateral details (except in cases where collateral should be asked as per Bank’s norms, where the minimum marks will be nil).
  • Purpose
    • Working Capital needs & Acquisition of fixed assets.
  • Quantum of finance
    • Maximum Rs. 50.00 Lakh *
  • Margin
    • 25% for working capital component and 25% for TL component.
  • Security
    • Primary Security : Hypothecation of stocks and assets financed by Bank.
    • Collateral Security : As per Bank's extant norms for WC and TLs.
  • Repayment Period
    • WC loan to be renewed every two years with annual review of performance.
    • TL not more than 5 years including moratorium not exceeding 6 months.
  • Moratorium
    • Maximum Moratorium 6 month.
  • Rate of Interest
  • Processing Charge/Upfront Fee
    • *SME loans above Rs. 50.00 Lakh is also available.
    Disclaimer:"Kindly contact the nearest branch for more details".