Fund based loan for working capital and purchase of machineries/equipments/transport vehicles.
Limit of Advance:
- Minimum Rs.10,000/- and Maximum Rs.10 lakh.
- All Micro Enterprise, where the investment in plant & machinery or equipment does not exceed Rs.100 lakh and turnover does not exceed Rs.500 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.
- 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.
- Hypothecation of stocks/book debts/assets/vehicles.
- PSDPN - In Equated Monthly installments.
- PSTL - In Equated Monthly Installments.
- New vehicles:15% against on road cost*
- New equipments/machineries:25%
- Used Vehicles:30% (upto 3 years old)
- Stocks/Book debts:25%
- As per EBLR Guidelines.
The above information is subject to terms and conditions.For more details, please contact the nearest Branch
Frequently Asked Questions (FAQs) for KBL Micro Mitra
What is KBL Micro Mitra?
It is exclusively for Micro entrepreneurs to providing fund based for working and purchase of machineries/equipment/transport vehicles.
Who is eligible for availing KBL Micro Mitra Scheme?
- All Micro entrepreneurs as per the definition of MSME are eligible.
- The applicant should be a resident of India.
- He/ she should be attain age of majority.
- The age of the Applicant and loan period should be within 70 years.
- Activity shall be covered under CGTMSE.
What is the minimum limit of the loan under this scheme?
Minimum of Rs.10,000/- and maximum of Rs.1000000/-.
What is the period of Loan under this Scheme?
- PSDPN: Up to 35 months.
- New Vehicles, for 3 wheelers 60 months and for 4 wheelers maximum of 84 months.
- Old vehicles, maximum of 60 months from the date of registration.
- New Machineries/equipment, up to 60 months.
What securities I have to furnish for availing the loan?
Facility is covered under CGTMSE.
What are the fees charged by the Bank?
Bank generally charges upfront fees and processing charges. Upfront fees is for legal/valuation/background information charges.
Can I get funding for purchasing of Electronic vehicle?
Yes, we are providing loan assistance for the same also.
Is reimbursement permitted?
Yes, reimbursement of new equipment/Plants and machinery/ vehicles is permitted within 3 months from the date of Original invoice.
What is EBLR?
EBLR stands for External Benchmark Lending Rate.