Civil Contractors, Mining Contractors, Engineering Contractors, Transport Contractors etc established as Proprietorship / Partnership firms, Limited Companies
For meeting working capital needs
Line of Credit by way of fund based working capital limit, Bank Guarantee/ letters of credit
Minimum Rs.10 lacs and Maximum Rs.500 lacs
Minimum 20% for fund based facility. Though the limit will be treated as unsecured, contractors will have receivables which should be charged to the Bank and a margin of 20% maintained thereagainst.
Minimum 15% cash margin for non-fund based facility
As per prevailing rate of interest structure in terms of HOBC:104/94 dt. 15-11-2010
No collateral security/third party guarantee to be obtained.
For accounts falling within regulatory definition of MSME : In terms of HOBC : 102/218 dt. 20-03-2009. (MSME accounts within regulatory definition are exempt from commitment charges)
For accounts not falling within regulatory definition of MSME but within the new definition of SME : In terms of HOBC: 102/119 dt.19-09-2008.
Suitable collateral to be obtained so that asset cover of 1.50 is maintained.