Micro & Small Enterprises in rural, semi urban, urban and metro branches
Purpose
Investment and working capital requirements. This product will be offered to those Micro & Small Enterprises who require both working capital and term/demand loan
Nature of Facility
Composite Loan in the Form of Demand/Term Loan
Quantum of loan
For units located in
Maximum amount of loan
Rural Areas
Rs. 5,00,000/-
Semi-urban Areas
Rs 10,00,000/-
Urban Areas
Rs. 50,00,000/-
Metro Areas
Rs. 100,00,000/-
Margin
15%
Rate of Interest
As applicable
Security
1. Hypothecation of Assets crated out of bank finance as well as existing unencumbered assets of the MSE unit.
2. Equitable Mortgage of Land/Land & Building which is part of the business activity such as business premises
3. Guarantee Cover under CGTMSE Guarantee Scheme. No collateral security/third party guarantee to be obtained
Repayment Period
Loan is to be repaid in maximum 5 years with a moratorium of 3 to 6 months to be determined on the merits of the case
