Business Correspondents - MSME Loan / SME Loan Scheme | SBI - Business

Features

• Target Group : Customer Service Providers (CSPs) / Kiosk Operators (KOs) engaged on contract basis by the National / State level Business Correspondents of the Bank (one person per outlet)
• Facilities Available : Overdraft (OD) / Demand Loan (DL) / Term Loan (TL)
• Quantum of Loan :
  • Minimum: Rs. 25,000/-
  • Maximum:
  • Existing CSPs/KOs with min. 1 year engagement with BC: Rs. 5.00 lacs
  • New CSPs/KOs: Rs. 2.50 lacs
• Pricing :
  • Attractive Interest rates based on rating of the Borrower/ External Rating or as per Scheme Specific Rating (if applicable) or as per extant guidelines of the Bank.
  • EBR (Linked to Repo Rate and Currently EBR is Repo Rate + 2.65%) linked (for MSMEs) & 6 months MCLR linked (for Non-MSMEs)
• Borrower’s Margin / Contribution :
  • For existing CSPs/Kiosk Operators with at least one year engagement with the BC: Nil
  • For New CSPs/KOs who have not completed one year engagement with the BC :
  • Loans upto Rs. 50,000/-: Nil
  • Loans > Rs. 50,000 to Rs. 2.50 lacs: 10%
• Repayment Period:
  • OD: 12 months with annual review
  • DL: Max. 36 months with 1 month moratorium
  • TL: Max. 84 months with maximum 3 month moratorium
• Processing Fee/ Upfront Fee :

• Other Charges: As per Bank Guidelines which will be appraised to the borrower before sanction of loans
• Special Feature
  • Assessment of Loan Amount :
  • Existing CSPs/KOs with at least one year engagement with BC: 12 times of the average commission earned during the last 12 months, with max. loan amount up to Rs. 5 lacs
  • New CSPs who have not completed one year engagement with BC: Need based requirement up to max. of Rs. 2.50 lacs. Appraisal will be as applicable to Mudra Loans
  • Exposure to be mandatorily covered under CGFMU