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SME Smart Line of Credit

 Availability of timely and adequate credit has always been a point of concern for the MSME Sector. MSMEs stand to lose out on any emerging business opportunities because of want of access to credit at the proper time. Keeping that in view, Bank has introduced this Product where financial assistance is offered to the MSMEs by way of pre-approved composite loan.

 

Sr. No.

Field

Content

1

Eligible Segments
  • All MSME clients as defined by MSMED Act, 2006

2

Facility

Composite loan with the following components

  • Term Loan
  • Working Capital (Fund Based and Non-fund Based)

3

Loan Amount
  • Maximum 500 lakh for corporate borrowers
  • Maximum 250 lakh non-corporate borrowers

4

Purpose of Advance
  • Term Loan: For capital expenditure, modernization, expansion, retiring of high-cost debt
  • Working Capital: To meet working capital requirement

5

Tenor
  • Term Loan: Max 5 years
  • CC: Max 12 months

6

Pricing

Linked to Bank base rate

7

Security

Both Primary and Collateral Security

8

Guarantee

Personal Guarantee of the borrower/promoters/parteners to be obtained.

9

Margin

Depending upon the nature of the facilities

10

Processing Charges

As per Bank's applicable rates
 
     
     
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