CHARTER FOR SMALL SCALE INDUSTRIES
Acknowledgements for receipt of loan application by branch by affixing date
stamp.
Time Norms for disposal of loan applications :
| a. | Upto Rs.25000/- 2 weeks |
| b. | Over Rs.25000/- & upto Rs.5 lacs 4 weeks |
| c. | Over Rs. 5 lacs 8-9 weeks |
No collateral security for advances upto Rs.5 lacs.
Waiver of collateral for advances over Rs.5 lacs and upto Rs.25 lacs based on
good track record and financial position.
For loans sanctioned without collateral security /third party guarantee for
advances between Rs.5 lacs and Rs.25 lacs, guarantee is available under Credit
Guarantee Fund Trust Scheme for SSI (CGTSI). For obtention of guarantee, a
guarantee fee of 2.5% of credit facility sanctioned and annual service fee @ 1%
of outstanding amount as on 31st March every year is payable.
Composite loan upto Rs.50 lacs.
Loan quantum : Minimum 20% of projected annual sales turnover (Nayak committee
norms.)
Margin (Stake of borrowers)
Upto Rs.25000/- Nil
Over Rs.25000 & upto Rs.5 lacs 20%
Over Rs.5 lacs 25%
| Interest rates : Within the band of 2% below/over PLR. | |
| Simple loan application form. | |
| Under Stree Shakti Package (Scheme for women) margins are reduced by 5% and interest reduced by 0.5%. | |
| Laghu Udyami Credit Card available for hassle-free credit upto Rs.10 lac and Artisan Credit Card for Rs. 2 lac. | |
| Standby line of Credit : | |
| Additional limit @20% of original limit to meet un-foreseen requirement, which can be availed 3 times in a year for credit limits upto Rs.2 crores. | |
The entrepreneur can contact any of our nearest branches