SME SMART SCORE Details Eligibility

Scheme is available to small and medium enterprise units engaged in manufacturing, trade or services.

Purpose
Working Capital requirements & Purchase of fixed assets like land, building, plant & machinery.

Facility
Working capital & Term loan

Quantum of Finance
For manufacturing units total limits upto Rs 50 lacs For trade & services units total limits upto Rs 25 lakhs.

Margin
25% for working capital and 33% for Term Loan

Interest Rate
Floating Rate and linked to Base Rate

Repayment Period
Term loan to be repaid in 5 years excluding moratorium not exceeding 6 months Working Capital loan to be renewed every two years and reviewed annually subject to satisfactory conduct of account.

Security
Primary: Hypothecation of stocks and assets financed by Bank Collateral: Extension of charge over current assets, fixed Assets and otherexisting collateral, Personal guarantees of the promoters/partners of the unit.

Insurance
The assets created out of Bank?s finance are to be insured for the full value.

Special Features
A simplified loan application format Concessionary rate of interest Quick and hassle-free loan sanction process