·       Target Group : All Business units engaged in manufacturing, services activities along with self-employed and professional individuals, wholesale / retail trade.

·       Quantum of loan (Min/Max) :

o   Minimum: Above Rs. 10 lakhs

o   Maximum: Rs. 25 lakhs

·       Margin (%): 10% which should be ensured through stocks and receivable statement

·       Pricing: Competitive pricing linked to EBLR

·       Collateral Security :

o   Minimum collateral of 40% in the form of exclusive mortgage charge on Land & Building/cash equivalent like lien/charge on Fixed Deposit, Mutual Fund etc. Realizable value of immovable property to be taken for this purpose and property should be SARFAESI compliant.

o   Personal guarantee of all the directors / partners. However, personal guarantee of Professional director / Independent directors / Nominee directors will not be obtained.

o   Personal Guarantee of the owner of the Collateral Security offered as Mortgage/Pledge.

·       Repayment Period: 

o   Cash Credit: Repayable on demand or To be renewed annually.

o   Dropline OD:

§  Limits can be sanctioned for a period ranging from 12 months to 60 months (reducing DP) including a moratorium of a maximum three months. To be reviewed annually.

§  The drawing power shall be reduced monthly so as to have the outstanding liquidated at the end of the repayment period.

§  Regular transactions are permitted upto drawing power available.

§  No over-drawings will be permitted.

§  DP Reduction date or instalment due date will be last working day of every month.

§  After liquidation, in case further loan is required, fresh request to be made

·       Unified Charges : Rs. 7500/- plus applicable taxes. Unified annual charges comprising of processing fee, EM charges, documentation charges, Inspection, commitment charges and remittance charges (1 remittance per day free)