Fund based loan for working capital and purchase of machineries/equipments/transport vehicles.
- All Micro entrepreneurs
- In case of manufacturing enterprises, the investment in plant & machinery shall be upto Rs.25 lakh.
- In case of service enterprises, investment in equipments shall be upto Rs.10 lakh.
- For individuals the age of the applicant + Loan period should be within 70 years.
- Applicant shall be our customer at least for the last 1 year with active SB or CA, with satisfactory transactions.
- Minimum CIBIL Credit Vision score of 675 or CRIF score of 700.
- For Non individuals, the CRIF score shall be 700 and above.
- Existing credit facilities of the client with us/other Banks if any, should not be in the NPA/Stress Category.
- Purpose & activity shall be eligible for coverage under CGTMSE.
Limit of Advance:
- Minimum Rs.10,000/- and Maximum Rs.10 lakh.
- New vehicles:15% against on road cost*
- New equipments/machineries:25%
- Used Vehicles:30% (upto 3 years old)
- Stocks/Book debts:25%
- Hypothecation of stocks/book debts/assets/vehicles.
- Working Capital :
- PS DPN : up to 35 months
- New Vehicles:
- For 3 wheelers : Maximum 60 months
- For 4 wheelers : Maximum 84 months
- New Machineries/equipments : Up to 60 months
- Used vehicles : Maximum 60 months from the date of registration.
Rate of Interest:
- Present effective rate is 11.50% pa
- PSDPN - In Equated Monthly installments.
- PSTL - In Equated Monthly Installments.
The above information is subject to terms and conditions.For more details, please contact the nearest Branch