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Eligibility
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Any activity defined under MSME
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Purpose
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Any activity under MSME
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Rate of interest
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MSME Loan to Businessmen / Industrialist
a) Term Loan
- 700 and above - 11.00%* onwards
- 600 to 699- 11.50%* onwards
- (-1) - 11.00%* onwards
b) CCL Loan (Working capital)
- 700 and above - 11.00%* onwards
- 600 to 699 - 11.50%* onwards
- (-1) - 11.00%* onwards
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Repayment Tenure
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Upto of 120 months in equated monthly installments
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Surety
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Minimum one guarantor with sufficient net worth
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Security
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Any tangible asset belonging to the applicant situated within the jurisdiction of the Bank. In case of direct finance, it should be situated within the territorial jurisdiction of the Branch from where the loan is availed
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Margin
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At least 25% of the total Project Cost
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Membership
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Membership is necessary for the borrower and sureties to avail this loan.
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* Floating rate of interest
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Interest
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MSME Loan to Transport operator
a) Purchase of new vehicle
- 700 and above- 11.00%* onwards
- 600 to 699- 11.50%* onwards
- (-1) - 12.00%* onwards
b) Purchase of used vehicle
- LMV - 11.00%* onwards
- Heavy Vehicle- 13.00%* onwards
- Boat Repair/Vehicle Repair - 12.00%* onwards
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Repayment Tenure
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Upto of 120 months in equated monthly installments
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Surety
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Minimum one guarantor with sufficient net worth
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Security
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Any tangible asset belonging to the applicant situated within the jurisdiction of the Bank. In case of direct finance, it should be situated within the territorial jurisdiction of the Branch from where the loan is availed
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Margin
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At least 25% of the total Project Cost
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Membership
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Membership is necessary for the borrower and sureties to avail this loan.
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* Floating rate of interest
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HYPOTHECATION LOAN ON MACHINERY
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Eligibility
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Any activity defined under MSME
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Purpose
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Purchase of machinery for activity under MSME
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Plant & Machinery (New Unit)
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Rate of Interest
Up to Rs.25 lakhs- 11.00%* onwards
Above Rs.25 lakhs- 10.50%* onwards
- 600 to 699 - 12.00%* onwards
- (-1) - 11.00%* onwards
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Plant & Machinery (Purchase/Takeover of Old Unit)
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Rate of Interest
- 600 and above
Upto Rs 50 Lakhs -11.50%* onwards
Above Rs 50 Lakhs - 11.25%* onwards
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Margin
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1) For new Machinery:- At least 25% of the Invoice/Quotation value
2) For used Machinery:- 50% of valuation provided by the Panel
Engineer/Valuer of the Bank
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Repayment Tenure
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Upto of 7 years
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Security
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New machinery
Any tangible asset property belonging to the applicant situated within the jurisdiction of the Bank. In case of direct finance, it should be situated within the territorial jurisdiction of the Branch from where the loan is availed.
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Other Terms
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Membership is necessary for the borrower and sureties to avail this loan.
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Agriculture & allied activities
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Rate of Interest
- Boat Loans - 11.50%* onwards
- Poultry/ Piggery/ Diary & other allied activities - 10.00%* onwards
- Commercial Crop Loans - 10.00%* onwards
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* Floating rate of interest
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