Bank has formulated a new scheme to encourage small scale units covered under Small Scale Industries.
| SrNo. | Particulars | Remarks |
|---|---|---|
| 1 | Loan Amount | Rs.2.00 Crores (Rupees Two Crores only) |
| 2 | Type of Facility | Working Capital and /or Term Loan |
| 3 | Margin |
Working Capital: Stock:30%,Debtors:40% Term Loan: Land &amamp; Building 20% Machinery:20% |
| 4 | Collateral security Value | 100% or More of loan amount. |
| 5 | Interest Rate | 8%* to 11%* P.A. for working capital & Term loan. (The utilization of the limits shall not be limiting Factor.) |
| 6 | Other Conditions |
* Unit should be in commercial production for more than 2 years. * 1% reduction in interest rate for first year in case of takeover from other Bank by way of Flat Takeover Rebate. * Processing Charges and Share Linkage as per prevailing schedule. * The scheme is applicable to new accounts only. * Sanctioning under above scheme will be as per existing discretionary lending powers. * Group Exposure limit should not be more than Rs.4.00 Crores. *Requirement of SSI Registration Certificate or other certificate classifying the unit as SSI Unit. |
