To cover credit facilities in MSE sector (Manufacturing & Services)
All types of unorganized service and manufacturing sector including small shop owners like those engaged in mobile / TV repairing(Not Selling), small garage, juice shop, bakery owner, Sweet Meat / Farsan Shop etc will be eligible. However, the following category will not be eligible under the scheme:
- Retail Trade (categorized as small services)
- Educational/Training Institutions
Nature of Facility:
- The facility may be either Overdraft / Cash Credit working capital limit or Term Loan.
- In case of loans up to Rs.10 lacs, Over Draft limits may be allowed without insisting for Stock Statements, particularly for Service Sector.
Quantum of finance :
Maximum Rs.100.00 lac.
Rate of Interest :
- Upto 10.00 lakh: MCLR+ 0.50%
- 10.00 lakh & upto 100.00 lakh: MCLR + 1.00%
- Upto Rs.50,000: Rs.100 per proposal
- Rs.50,000 upto Rs.5.00 lacs: Rs.1000 per proposal
- Rs.5.00 lacs & upto Rs.100.00 lacs: 0.5% of the loan amount (maximum Rs.25,000)
Renewal charges @ 0.10% of the loan amount (maximum Rs.15,000)
The Term Loan amount repayable in Equated Monthly Installments to a maximum period of 84 months.
- No collateral security & guarantee required up to a loan of Rs. 100.00 lacs, as the loan for MSE sector (Manufacturing & Services) will be covered under CGTMSE Scheme.
- Primary security i.e. hypothecation of stock and receivables or charge on Fixed assets to be kept as security.
- Application Form.
- Details of Primary securities
- Balance Sheets for the past 2 years along with estimated & projected Balance Sheets and other financial statements, where ever app licable.
- Documents for KYC verification.
- onstitution of the borrower i.e. individual, proprietorship, partnership, limited company, with supporting documents.
- Usual OD/CC/ Term Loans documents of the bank
For further details please contact our nearest branch or call on the toll free no. 1800 22 1911