Small & Micro Enterprises
SME & Micro Enterprises are a key contributor to economic growth and employment inside the country. Small & Micro Enterprises loan provides financial assistance for the establishment of new enterprises and meet the financial requirements of established enterprise for their growth.
Features
Interest Rate: Base Rate + 2% premium
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Loan Size up to Rs. 1.5 M per borrower/unit
Age Limit of 18 years to 68 years
Tenor from 1 year to Maximum 10 years
Repayment Mode on EMI Basis for Term Loan & Quarterly for Working Capital loans
Registered mortgage charge over L/B owned by borrower/partner/promoter
Actual Fee on CIC and STR and 0.75% of the total limit on LAF
TAT: Within 7 working days after submission of all required documents