1.          

  Eligibility

a)    All MSME and Non-MSME units irrespective of line of activity availing Working capital (FB/NFB (both LC and BG) limits from our Bank.

b)    New to Bank MSME (all activities) and New to Bank Non-MSME (Contractors) with External Credit Rating BBB and above.

c)    Borrower should be in business for minimum 2 years. Unit must be profit making and not under SMA category as on date of sanction. Account should not be SMA-2 during last 12 months.

d)    New to Bank MSME borrowers with compliance to the  following (in place of external rating of ‘BBB’ & above) are also eligible with maximum limit of Rs 10 Crs:

             i.    To be in operation for minimum 3 years.

           ii.    Registered Net profit for past 3 years.

         iii.    Account should not be appearing as SMA-1 and SMA-2 with any lenders in past 2 years.

          iv.    CIC score of the promoters/directors should be 700+.

            v.    CIBIL CMR, Financial benchmark ratios as per Bank’s extant policy

2.          

Purpose

For purchase of Commercial Equipment, Commercial Vehicle required towards existing business activity and for captive use only.

3.          

Facility

Term Loan [Sanction of front ended LC can also be considered in case of import of equipment]

4.          

Quantum

Minimum: Above Rs 10.00 lakh

Maximum: Rs 50.00 Crore

5.          

Margin

Minimum 5% on the cost of the equipment along with DSRA of 3 months else margin will be 10%.

6.          

Interest Rate

MSME: EBLR + 0.50% to 1.50%

Non MSME: MCLR to MCLR+1%

7.          

Charges

50% concession in applicable processing charges. Other charges as per extant guidelines of the Bank.

8.          

Security

Hypothecation of the equipment to be purchased. No extension of collateral or CGTMSE is required.

9.          

Tenor

Up to 60 months (84 months on case to case basis) including moratorium of 3 months. Borrower will be approved a credit line as per eligibility which can be availed in tranches as per the requirement of the borrower within a period of 1 year from date of sanction.