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Purpose
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a) Working capital: Fund Based & NFB facilities limits to meet day to day requirement / materials / labour payment / statutory payments.
b) Term Loan: For purchase of Plant & Machinery / Equipment / Transport Vehicles to be used for the execution of contract work.
c) Bank Guarantee: For bidding of tenders, mobilization of advance money, performance of the contract, guarantee in favour of Central / State Govt & its various departments and reputed Pvt. / Ltd. companies, guarantee for release of retention money.
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Eligibility
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- MSME units engaged in the Contractor/ Subcontractor activity.
- Sub-contractors executing work on behalf of main contractors are also eligible under this provided sub letting is through registered agreement and all required permission and licenses / registration are available.
- Borrowers can be Individual(s) / Sole Proprietorship / Partnership firm/ HUF/Joint Venture/Joint Stock Company or any other entity engaged in this line of activity.
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Nature of Credit facility
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Working Capital facility: Overdraft against property (ODP).
Term Loan
Non Fund: Bank guarantee
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Quantum of Finance
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Minimum: Rs 10.00 Lakh
Maximum: Rs 2000.00 Lakh
80% of the realizable value of the property mortgaged
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Rate of Interest
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Security
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Equitable mortgage of immoveable property . 80% of the realizable value of the property mortgaged
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Repayment
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ODP : On demand.
Term Loan : Repayment in maximum upto 10 years
BG : Tenor of BG not to exceed 10 years.
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Processing charges:
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PSB Flexi Term Loan
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Type of facility
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PSB Flexi Term Loan is a pre approved term loan, bundled with PSB Contractor Plus, with an aim to provide term loan assistance to contractors in a smooth and hassle free manner.
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Eligibility
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- All MSME credit constituents having satisfactory credit history of minimum 1year with bank and having working capital facility backed by property as primary or collateral.
- PSB flexi term loan will be sanctioned with working capital limit under PSB Contractor Plus of Rs.1.00 Crore and above.
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Purpose
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Term loan for purchase of machinery, equipment, commercial vehicles, furniture & fixture.
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Quantum of Finance
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Term loan of maximum 25% of the working capital limit.
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Margin
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25%
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Repayment Period
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5 years (60 EMI).
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Processing Charges
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One time charges of 1.00% at the time of disbursement.
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Rate of Interest
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One Year MCLR + 2.00%
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Click Here to Apply for Retail Loan
