Eligibility

• Existing and New MSME borrowers
• Borrowers under both sole banking & multiple banking arrangement are eligible
• Individuals, proprietorship, partnership, TRUST, LLP, Pvt Limited companies.

Purpose

Working capital for operations, term loans for creation/purchase of fixed assets/Demand loan for short term expenses.

Loan Amount

Minimum above Rs.10.00 Lacs and Maximum no ceiling.

Margin

Liquid securities - 10%(Fixed deposit/Eligible Insurance Policies).

Immovable - 30% of Fair market Value of property, assessed by Bank's panel valuer.

Rate of Interest

Collateral Security

Liquid securities-10%(FD/Policies) & Immovable - 30% of FMV

Repayment Period

TL upto 50 lacs- 84 months with 12 months moratorium

Exceeding 50 lacs - 120 months with 18 months moratorium.

Demand Loan - one year

Processing Fee

Working Capital - 0.50% of loan amount & Term Loan - 1.00% of loan amount.

Other Conditions

• If the value of prime security is 200% and above, a concession of 0.50% can be extended on the applicable interest rates.
• Borrowers having security coverage of 200% and above can be granted ADHOC facility of 20% of working capital limit.
• Borrowers under Multiple banking who wants to bank solely with us will be offered waiver of 50% processing charge/ upfront fee under SME Easy.
• Borrowers who is ready to open 100 or more employee's salary account will be offered flat Rs.10000/- discount on applicable Processing charge.
• Free credit cards to individual Borrowers/ Proprietors/ Partners/ Directors/ Guarantors (subject to the eligibility) without Joining Fee.