To cater to the needs of Micro Entrepreneurs under Pradhan Mantri “MUDRA” Yojana.
- Term loan (for Capex requirements)
- For Working Capital purpose
- Overdraft (Running / operative account) – renewable every year.
- Overdraft (Reducing balance method) – 84 months
Maximum loan amount Rs.10 lakhs.
Micro Manufacturing / Service Enterprises
Margin :
- Overdraft for Working Capital purpose – Nil.
- Term Loan (for Capex) – 20% of the relevant assets.
Repayment :
- TL / OD (Reducing Balance Method – 84 monthly installments (inclusive of Installment holiday if any maximum 6 months).
- WC - One year (renewable on one year)
Security :
Covered under CGS (Credit Guarantee Scheme of Credit Guarantee Fund Trust for Micro and Small Enterprises
- Primary :
- WC: Stocks and receivables
- TL: Assets required / created out of our Bank Loan.
Interest :
Fees & Charges
- Term Loans: 1.00% of the loan amount + taxes as applicable
- Overdrafts: 0.50% of the OD Limit + taxes as applicable