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Eligibility Existing artisan borrowers enjoying credit facilities up to Rs 2.00 lac and having good dealing with the Bank.
All artisans involved in production / manufacturing and other wise are eligible for credit facilities.
Artisans registered with Development Commission (handicrafts) shall be given preference.
SHG of artisans or cluster of artisans shall also be taken into consideration.
Artisans, who availed loan through other Government sponsored Scheme, are not eligible under the ACC Scheme.
Purpose Working Capital : for purchase of raw materials etc.
Term Loan : for purchase of tools and equipment for carrying out production process.
Loan Amount Maximum Rs 2.00 lacs (Term Loan / Working Capital)
Margin Working Capital : 20%
Term Loan : 10% of the project cost (minimum).
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+1.50% p.a. with monthly rests.(For details, click on “Rate of Interest” link at Home Page)
Repayment Period Working Capital : On demand subject to review every year.
The ACC card issued is valid for 3 years.
Term Loan : 5 to 7 years
Delivery Channels All Rural & Semi Urban Branches
*Subject to change.