- Fund based loan for business improvement.
- The borrower/ unit shall be any legal entity, conforming to MSME classification guidelines.
- For individuals the age of the applicant + Loan period should be within 70 years and Credit Bureau score of 650 and above.
- For Non individuals, the CRIF score shall be 650 and above.
- The MSMEs shall be a profit making unit for the last 2 financial years and also regularly filing the GST returns for the last 2 financial years.
- Existing credit facilities of the borrower with us/with other Banks, if any, should not be in the NPA/ Stress category.
- If applicant’s earlier accounts turned as NPA/closed under OTS, such applicant’s application will not be entertained.
Limit of Advance
- Above Rs.10 lakh, up to Rs.50 lakh.
Period of Loan
- PS Overdraft : 12 months.
- PS DPN : Up to 35 months.
- Mortgage of immovable properties shall be 100% of exposure
Bank owns Deposits, NSCs, Life Insurance policies of IRDA authorized company with surrender value.
- PSOD - On demand as per OD guidelines.
- PSDPN - Equal Monthly installments.
Rate of Interest
As per EBLR Guidelines.
The above information is subject to terms and conditions.For more details, please contact the nearest Branch