SME Credit Card

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SME Credit Card
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Purpose: To meet any kind of credit requirements including purchase of shop

Features

  • Target Group : All Micro Enterprises, SSI units, SBF, Retail Traders, village industries, tiny units, professionals, self-employed, MSME Units - Udyam Registration with ministry of MSME is mandatory.
  • Quantum of loan (Min/Max) : Maximum: Rs. 10.00 lakhs
  • Margin (%)
    • Upto Rs. 50,000/-: Ni
    • Above Rs. 50,000/-: 20%
  • Pricing : Competitive pricing linked to EBLR
  • Collateral security: Nil Collateral Security. All loans to be covered under CGTMSE (Credit Guarantee Fund Trust Fund for Micro & Small Enterprises) and guarantee fee to be borne by borrower
  • Repayment Period:
    • Cash Credit: Repayable on demand. Validity: 3 years subject to Annual Revie
    • Term Loan: < Rs. 5 lakhs: Max. 5 years including moratorium period up to 6 months. Annual review to be done. Rs. 5 lakhs & above: Max. 7 years including maximum moratorium period of upto 12 months. Annual review to be done.
  • Fee & Charges : As applicable to SSI/SBF units
Loan amount Processing fee
Upto Rs.5 lakhs Nil
Above Rs. 5 lakhs and upto Rs.10 lakh Rs. 1,000/- (+ GST)

Eligibility Criteria

Customers of the following segments with a satisfactory track record for the last 2 years:

  • Small Industrial Unit, Micro Enterprises, Small Retail Traders, MSME Units, Professionals & Self-Employed persons, Small Business Enterprises, Transport Operators (SRTO), Units who do not enjoy credit limit with us/ other banks at present with excellent performance and credentials may be considered.
  • Scoring Model: Units which obtain a minimum of 60% score as per Scoring Model, would qualify under the product.

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Last Updated On : Thursday, 07-07-2022

Interest Rates

8.60%* p.a.

w.e.f. 26.01.2023

*T&C Apply.

 

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