MSME LOAN
Eligibility | Any activity defined under MSME |
Purpose | Any activity under MSME |
Rate of interest | MSME Loan a) Business
b) CCL Loan
|
Rate of Interest | MSME Loan (Commercial Vehicle) a) New
b) Used
MSME Loan (Commercial Vehicle) a discount of 0.50% in interest is offered for the borrowers who opt for insurance from insurance companies which have tie up with the Bank. In case of Two-wheeler loans (new) a discount of 1.00% in interest is offered for the borrowers who opt for insurance from insurance companies which have tie up with the Bank. |
Repayment Tenure | Upto of 120 months. |
Surety | Minimum one guarantor with sufficient net worth |
Security | Any tangible asset belonging to the applicant situated within the jurisdiction of the Bank. In case of direct finance, it should be situated within the territorial jurisdiction of the Branch from where the loan is availed |
Margin | At least 25% of the total Project Cost |
Other Terms | Membership is necessary for the borrower and sureties to avail this loan. A discount of 0.50% in interest for the existing customers who have good track record of repayment and sufficient security in case of MSME loan |
Institutional / Organisational Vehicle Loan Up to Rs15 Lakhs --->9.00%* Above Rs.15 Lakhs ---->9.50%* | |
* Floating rate of interest |
HYPOTHECATION LOAN ON MACHINERY
Eligibility | Any activity defined under MSME |
Purpose | Purchase of machinery for activity under MSME |
Plant & Machinery (New Unit) |
Rate of Interest Up to Rs.25 lakhs- 11.00%*
|
Plant & Machinery (Purchase/Takeover of Old Unit) |
Rate of Interest
|
Margin | 1) For new Machinery:- At least 25% of the Invoice/Quotation value 2) For used Machinery:- 50% of valuation provided by the Panel |
Repayment Tenure | Upto of 7 years |
Security |
New machinery Any tangibel asset property belonging to the applicant situated within the jurisdiction of the Bank. In case of direct finance, it should be situated within the territorial jurisdiction of the Branch from where the loan is availed. |
Other Terms | Membership is necessary for the borrower and sureties to avail this loan. |
Agriculture & allied activities | |
Rate of Interest
| |
* Floating rate of interest |