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Term Loan

Term Loans are extended for the purpose of acquisition of fixed assets. viz., land, building, plant and machinery for setting up of new industrial units or expansion/ modernisation of existing units Financing for the purchase of second hand machinery (both indigenous as well as imported) can also be considered subject to certain conditions .

Margin:

Bank will normally finance upto 75% of the value of fixed assets and the balance amount should be brought by the applicant as margin. However depending upon the activity and quantum of advance the bank may either increase the margin or decrease the margin.

Security / Third Party Guarantee:

Bank will not insist for collateral security / Third Party Guarantee for total credit limits upto Rs.5 lakhs for SME borrowers. In respect of credit limits above Rs.5 lakhs and upto Rs.25 lakhs Collateral Security / Third Party Guarantee may be waived for deserving cases and those limits will be covered under Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE).

Repayment:

The repayment of term loan will be fixed based on the cash generation of the unit and gestation period. Suitable holiday period will be allowed for repayment of the term loan.

Interest Rates:

The details of interest rates for various categories of SME advances are available separately.

Working Capital Loans

The manufacturing / Service activity of the unit can smoothly progress while adequate working capital funds are available. Our Bank provides necessary working capital assistance to MSME units.

The quantum of working capital funds can be ascertained by looking into the working capital cycle of the unit. Working Capital Cycle can be explained by way of flow chart as below:

Cash > Raw Material > Work in Process > Finished Goods > Receivables > Cash

It is normally presumed that the working capital cycle will be of three months i.e. the period taken for conversion of cash into raw material, raw material into finished goods, finished goods into receivables and receivables into cash. Depending on the nature of activity and various other factors it may be either more than 3 months or lesser than 3 months.

The working capital limits can be availed by way of cash credit, bills limit, Letter of Guarantee, Letter of Credit etc.,

Security / Third Party Guarantee:

Bank will not insist for collateral security / Third Party Guarantee for total credit limits upto Rs.5 lakhs for SME borrowers. In respect of credit limits above Rs.5 lakhs and upto Rs.25 lakhs Collateral Security / Third Party Guarantee may be waived on deserving cases and those limits will be covered under Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE).

Interest Rates:

The details of interest rates for various categories of SME advances are available separately.

Loans For Professional and Self Employed

Under this category, individuals :

Who possess degree or diploma in any discipline of art / craft / profession

Or

Who possess the skill which has been estimated as professional in the opinion of the Bank

Shall be considered for financial assistance. Example: Medical Practitioners, Dental Surgeons, Accountants, Engineers, Craftsmen, Construction contractors, Management consultants etc

Eligibility and Purpose Eligibility

The applicant must be holding a recognised degree in Medicine, Dentistry, Engineering etc. Alternatively, the applicant, in the opinion of the Bank should possess adequate skill, which can be considered as professional.

Purpose

Loans shall be considered:

• For purchase of instruments / equipments viz. X-ray equipment for a Medical Practitioner; Concrete mixer for a construction Engineer; Computers for chartered accountants etc.
• Renovation of premises viz. construction / renovation of clinics for Medical practitioners: construction / renovation of Office for Chartered Accountants etc.
• For working capital requirements viz. for periodic purchase of raw material and other items by Craftsmen etc.

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