SME CREDIT CARD
SIMPLIFIED FINANCING TO SMALL UNITS BASED ON SCORING MODEL
|
Parameters |
Features |
|
Nature of Facility |
Cash Credit / Term Loan |
|
Purpose |
To meet any kind of credit requirements including purchase of shop |
|
Target Group |
SSI units, tiny units, village industries, retail traders, professionals, selfemployed, etc |
|
Eligibility Criteria |
Customers with satisfactory record for last 2 years in following segments:
Small industrial units, Small retail traders, Professionals & self-employed persons, Small business enterprises, Transport operators, Units who do not enjoy credit limit with us / other banks at present with excellent performance and credentials may be considered.
Term loans can be sanctioned under SBCC for acquisition of shop under Small Business Enterprises. |
|
Quantum of loan (Min/Max) |
Maximum: Rs.10 lacs |
|
Margin (%) |
-
Up to Rs.25000/- Nil
-
Above Rs.25000/- 20%
|
|
Pricing |
Competitive Pricing Linked to MCLR |
|
Collateral Security |
SSI- No collateral is to be insisted upon (To be covered under CGTMSE)
SBF- For loans more than Rs. 25,000/- charge over movable/immovable property/third party guarantee. All loans that are eligible for guarantee cover under credit guarantee scheme of CGTMSE should be invariably covered under the scheme |
|
Repayment Period |
-
WC valid for 3 years with annual review.
-
TL not more than 5 years excluding moratorium of 6 months
|
|
Processing Fee |
As applicable to SSI/SBF units |
