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- Working Capital - Limit outstanding / disbursed should be an adhoc facility and adjusted within a maximum period of three months. (A running account facility)
- Term Loan- TL repayment to be maximum 60 months inclusive of moratorium period not exceeding 6 months in monthly / quarterly installments as per assessment. Interest is to be paid as and when due
A. It is a credit product tailored to meet the temporary short term working capital and contingent term loan requirements of Micro, Small & Medium Enterprises (MSME) sectors.
A. Under the scheme, standby credit is made available to MSME borrowers availing Working Capital limit of Rs.0.25Crore and above exclusively with our bank , having satisfactory dealing of minimum two years under credit facilities availed from our Bank, complied with all sanction terms and maintaining regular account with no overdues.
A. The Standby Ad-hoc Working Capital loan is granted to meet genuine and immediate urgent credit need (Pre-approved additional Working capital funds) of temporary /contingent nature and Pre-approved stand-by term Loan to fund periodic capital expenditure for existing business.
A. Maximum quantum of finance is Rs. 2.50crores with a cap of 25% of regular WC (FB & NFB) sanctioned limits.
A. Yes. The minimum margin requirement is 25%.
A. The interest rate will be applicable rate for Term Loan and 1% above the applicable rate of interest for fund based working capital limit. In case account is eligible for SME Plus Gold Card applicable rate of interest for fund based working capital will be charged.
A. The term loan is to be repaid within maximum 60 months inclusive of moratorium period not exceeding of six months and FB working capital will be a running account facility to be adjusted within 3 months from disbursement of ad-hoc.