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Benefits

Purpose

To provide hassle free credit to meet working capital requirements related to business activity for expansion of business.

Eligibility

GST registered units which have filed GST returns at least for the last 12 months.

Business entities having an active current account with Bank since past 12 months.

Individuals, firms, companies, limited liability partnership and not availing working capital facility from any Bank/FI.

GST registered units which have filed GST returns at least for the last 12 months

GST Exempted category borrowers shall be allowed only if GST return is available, with following condition: -

(i) Minimum 75% Collateral security in the shape of SARFAESI compliant immovable property or Bank approved liquid security.
Or
(ii) Minimum 50% Collateral security in the shape of SARFAESI compliant immovable property or Bank approved liquid security. Remaining exposure shall be secured by CGTMSE guarantee coverage under Hybrid Model.

Minimum required SME SCORE for loan eligibility is above 52.

Udyam Registration is mandatory.

Type of Facility

Cash Credit

Loan Amount

Above Rs. 10.00 Lakh to Rs. 100.00 Lakh.

Margin

25% on stock.

25% on Book Debts not older than 3 months.

Assessment of Loan

MPBF for Cash Credit facility shall be allowed based on 25% of the sales reported in the GST returns or the credit summation in current accounts in the last 12 months whichever is lower.

Processing fee and Documentation Fee

As per card rates.

Security

CSTMSE Guarantee

Rate of Interest

Interest rate linked to RLLR (Linked to Repo Rate and currently RLLR is 9.25%.

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