SME Credit Card

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SME Credit Card
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Features

  • Purpose : To meet any kind of credit requirements including purchase of shop
  • Nature of Facility : Cash Credit / Term Loan
  • Target Group : SSI units, tiny units, village industries, retail traders, professionals, selfemployed, etc
  • Quantum of loan (Min/Max) : Maximum: Rs.10 lacs
  • Margin (%)
    • Up to Rs.25000/- Nil
    • Above Rs.25000/- 20%
  • Pricing : Competitive Pricing Linked to MCLR
  • Repayment Period
    • WC valid for 3 years with annual review.
    • TL not more than 5 years excluding moratorium of 6 months
  • Processing Fee : As applicable to SSI/SBF units

Eligibility Criteria

Customers with satisfactory record for last 2 years in following segments:

  • Small industrial units, Small retail traders, Professionals & self-employed persons, Small business enterprises, Transport operators, Units who do not enjoy credit limit with us / other banks at present with excellent performance and credentials may be considered.
  • Term loans can be sanctioned under SBCC for acquisition of shop under Small Business Enterprises.

Collateral Security

  • SSI- No collateral is to be insisted upon (To be covered under CGTMSE)
  • SBF- For loans more than Rs. 25,000/- charge over movable/immovable property/third party guarantee. All loans that are eligible for guarantee cover under credit guarantee scheme of CGTMSE should be invariably covered under the scheme

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Interest Rates

6.80%* p.a.

w.e.f. 01.01.2021

*T&C Apply.

 

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