MSME Loan

MSME LOAN

 Eligibility  Any activity defined under MSME
 Purpose   Any activity under MSME
 Rate of interest

MSME Loan

a) Business

  1. 700 and above - 11.00%*
  2. 600 to 699- 11.50%*
  3. (-1)    - 11.00%*

b) CCL Loan

  1. 700 and above - 11.00%*
  2. 600 to 699 - 11.50%*
  3.  (-1)   - 11.00%*
 Rate of Interest

MSME Loan (Commercial Vehicle)

a) New

  1. 700 and above- 11.00%*
  2. 600 to 699- 11.50%*
  3. (-1) - 12.00%*

b) Used

  1. Commercial Vehicle (LMV) - 11.00%*
  2. Commercial Vehicle (Heavy Vehicle)- 13.00%*
  3. Boat Repair/Vehicle Repair - 12.00%*

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%*
Above Rs.25 lakhs- 10.50%*

  1. 600 to 699 - 12.00%*
  2. (-1) - 11.00%*
 Plant & Machinery (Purchase/Takeover of Old Unit)  

Rate of Interest

  1. 600 and above

            Upto Rs 50 Lakhs -11.50%*
            Above Rs 50 Lakhs - 11.25%*

     
 Margin

1) For new Machinery:-  At least 25% of the Invoice/Quotation value

2) For used Machinery:- 50% of valuation provided by the Panel
                                       Engineer/Valuer of the Bank
 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

  1. Boat Loans - 11.50%*
  2. Poultry/ Piggery/ Diary & other allied activities  - 10.00%*
  3. Commercial Crop Loans - 10.00%*
  * Floating rate of interest