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Union Turnover Plus

1. Eligibility All Micro, Small & Medium Enterprises (MSME) engaged in manufacturing activity or service activity or trading activity irrespective of constitution will be eligible under the scheme.
2. Purpose To Fund need based working capital requirement of MSMEs whichare adopting Digital Channels for Business Transactions, on the basis of Projected Sales Turnover acceptable to the Bank.
3. Quantum of Finance Maximum up to Rs. 5.00 Crores
4. Margin 20%
5. Facility Fund Based Working Capital Limit
6. Processing and other Service charges As applicable on regular WC facility as per extant guidelines on Service Charges
7. Repayment On demand. To be renewed every 12 months as per extant guidelines
8. Security A) Primary: All assets created out of Bank’s finance shall be charged in favor of Bank by way of Hypothecation /Mortgage etc.
B) Collateral:
• No collateral should be insisted in case of Loans upto Rs. 10.00 Lacs extended to units in the MSE Sectors and eligible accounts to be covered under applicable credit guarantee scheme.
• Collateral Security for the entire credit facility shall be Nil if advance is covered under CGTMSE Guarantee Scheme. Hybrid security model of CGTMSE may also be utilized as per the eligibility.
• Wherever, the account could not be covered under any Credit Guarantee Scheme, collateral security coverage of Minimum 60 % of total credit facility is to be obtained
9. Assessment of Fund Based WC Limits • Need Based assessment based on projected Sales Turnover (Based upon past and current trend) acceptable to the Bank.
• The computation of Bank finance will be (i) 30 % of Digital Portion of projected sales (ii) 25 % of balance portion of projected sales.
• Financial data in CMA format is not to be insisted upon for Credit Limit upto Rs. 1.00 Crore.

• For more details, Please contact our nearest branch.



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