||To provide timely, hassle-free and adequate credit delivery to meet the liquidity mis-matches and expenses incurred on activities like R&D, Product Development, Marketing and Branding, stocking the seasonally available raw material etc.
Credit facility against agricultural property is strictly not permitted. Credit facility shall not be permitted against security of immovable property wherein Educational/ Religious Institutions are located. Vacant land may preferably be not taken as security under the scheme.
- Micro, Small & Medium Enterprises engaged in the manufacturing and services sector.
- The existing MSMEs with good track record as well as new MSMEs having satisfactory Due Diligence Report.
- The MSMEs may be an Individual, Proprietor, Partnership firm, Private/Public Limited Company, Co-operative Society.
- The property of following close relatives may be considered subject to becoming of their co-borrower in the facility
- With a view to restrict the practice of diversions of funds and misutilization of the credit facilities availed from the Bank by the business concerns to strengthen their financials with other banks, it is advised that for the customers availing credit facilities under the PSB SME Liquid Plus Schemes, the pre condition shall be to maintain the Working Credit Limit accounts with our Bank only and not with any other bank/financial institution
|Quantum of Finance
||Minimum: Rs 10 lacs Maximum Rs.500 lacs
|Quantum of Finance is subject to
- Need based credit facility with maximum of 65% of realizable value of immovable property.
- The running account component is restricted to Rs 2 Cr within the overall limit, however term loan as single component can be considered upto Rs 5 Cr.
- Security in the form of NSCs (Margin 25%) /Bank’s Own Deposits (Margin 10%) /LIC Policies (Margin 10%) may be taken to supplement the overall security requirements.
|Rate of Interest
||For Term Loan: Maximum upto 7 years.
For Overdraft: Repayable on demand. Interest shall be recovered immediately when due.
||Personal guarantee of owners of property, spouse/ major son of prop., directors/partners
|Concession in ROI for MSMEs Only
The maximum concessions in RoI under any of the Scheme shall not exceed 1.25% in any case.
- Concession of 1.00% in RoI for cases, where realizable value of security offered as primary security to the credit facility is available to the tune of 200% or more.
- Concession of 0.25% in RoI for cases, where external credit rating is 1 to 4 by SMERA, ICRA, ONICRA or CRISIL
- Concession of 0.25% in RoI if account is classified under Priority Sector Advances.
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