Business Correspondents - MSME Loan / SME Loan Scheme | SBI - Business
loans to business correspondents
Purpose
To meet all kinds of Credit requirements relating to business (General purpose)
Features
- Nature of Facility : Overdraft (OD) / Demand Loan (DL) / Term Loan (TL)
- Target Group : Kiosk operators / Customer Service Providers (CSPs) engaged by Business Correspondents of the Bank (one person per outlet)
- Quantum of loan (Min/Max)
- Min: Rs.25000/-
- Max: Rs.2.50 lacs
- (Amount Limit to be fixed at 6 times of the average commission earned during the last 12 months or max. of Rs. 2.50 lacs, whichever is lower.)
- Margin (%) : Nil
- Pricing :One Year MCLR + 2.75%
- Collateral Security :Nil. To be covered under Credit Guarantee Fund for Micro Units (CGFMU)
- Repayment Period
- Overdraft: 12 months and to be reviewed every year
- Demand Loan: Maximum 36 EMIs with 1 month moratorium
- Term Loan: Maximum 60 EMIs with 1 month moratorium
- Processing Fee
- Loans upto Rs. 50,000/-: Nil
- Loans > Rs. 50,000/-: 0.50%
Eligibility Criteria
- Kiosk operators / CSPs between the age of 18-60 years who themselves have valid agreement BCs of the Banks for the purpose of providing Banking Services under Financial Inclusion and should be residing in his / her area of operations for more than 3 years. Further, the BC/CSP should be attached with Bank for at least 01 year.
Last Updated On : Thursday, 02-01-2020

Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
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Criteria
- Features
- Eligibility
- Terms and Conditions

Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above