SME Credit Card - MSME Loan / SME Loan Scheme | SBI - Business

Features

• Target Group : All Micro Enterprises, SSI units, SBF, Retail Traders, village industries, tiny units, professionals, self-employed, MSME Units
• Facilities Available : Cash Credit and / or Term Loan
• Quantum of Loan : Max. upto Rs 10.00 Lkahs
• 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 :
  • Up to Rs 50000 – NIL
  • Rs 50001 to Rs 10 lacs ---10%
• Repayment Period:
  • Cash Credit: Repayable on demand. Validity: 3 years subject to Annual Review.
  • Term Loan: < Rs. 5 lakhs: Max. 5 years including moratorium period up to 6 months. Annual review to be done.
    Rs. 5 lakhs & above: Max. 7 years including maximum moratorium period of upto 12 months. Annual review to be done. Interest to be serviced during moratorium.
• Processing Fee/ Upfront Fee :

• Other Charges: As per Bank Guidelines which will be appraised to the borrower before sanction of loans
• Special Feature
  • Nil Collateral Security
  • All loans to be covered under CGFMU as under Mudra Scheme. However, the accounts which are already opened, and fee is being paid under CGTMSE will be continued.
  • Assessment of Limit:
  • Working Capital: 20% of turnover of the last 12 months through the account
  • Term Loan: Total Project Cost less stipulated margin
  • For Self - Employed & Professionals: 50% of Gross Annual Income as declared in their income tax return