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Eligibility All existing borrowers under Industries, Services & Business (ISB) sector having satisfactory conduct / dealing with the Bank for the last three years and enjoying credit limit up to Rs 10.00 lac.
Purpose Working Capital : for purchase of raw materials etc.
Term Loan : for purchase of tools and equipment for carrying out production process.
Loan Amount For Small Business, Retail Trade etc: 20% of the annual turnover declared for tax purposes OR for last 12 months turnover in the operative account, whichever is higher.
For Professional & Self – employed persons:- 50% of their gross annual income as per Income Tax Return.
For Micro & Small Enterprises: As per Nayak Committee recommendations.
Margin 25%
Security Primary Working Capital : Hypothecation of Stocks, Book debts and other current assets.
Term Loan : Hypothecation of plant & machinery and assets financed by the Bank.
Security Collateral Depends upon the profile of the Borrower and loan amount subject to Government of India guidelines.
Rate of Interest Rate of interest depends on the profile of the proposed Borrower and varies between Base Rate to BR+5.00% p.a. with monthly rests as per risk rating of account.(For details, click on “Rate of Interest” link at Home Page)
Repayment Period Working Capita : On demand subject to review every year.
The LUCC card issued is valid for 3 years.
Term Loan : 5 to 7 years.
Delivery Channels All Branches.
*Subject to change.