urpose – For setting Small Scale Industries units and investing up to Rs. 10, 00000 in fixed assets excluding land and building;
Eligibility – Individual, Professional or Self employed or Businessmen with repayable capacity
Margin – 25 % in case of cash credit & term loan
Share Money – 1 % of loan amount.
Amount Of Loan – SSI /ancillary unit Rs. 5 lakh, tiny industries maximum Rs. 2 lakh
Processing Fee – 0.5 % of loan amount subject to minimum Rs 200/-
Guarantee – One guarantor of sufficient means and standing
Foreclosure Charges – The loan account limit can be closed on such terms and condition as decided by management from time to time.
Cash credit limit – Limit sanctioned for one year, subject to annual review/ renewal.
Repayment – Equated monthly installment subject to maximum 60 month.
Rate of Interest – 13.00%-14.00% on merit basis
Security – Hypothecation of plant & machinery, stock in trade & book debts, Collateral security in form of term deposit, LIC, KVP etc can be taken, EQM of land / factory shed etc.