SME Loan From State Bank Of India - 2017-2018 StudyChaCha

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Old November 20th, 2017, 04:38 PM
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Default SME Loan From State Bank Of India

I want to get the details of loan of Pradhan Mantri Mudra Yojana of State Bank Of India for SME so can you tell me?
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Old November 20th, 2017, 05:31 PM
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Default Re: SME Loan From State Bank Of India

State Bank of India is a pioneer in SME financing in India. As a bank, it has been playing a critical role in the overall growth and development of the SME sector.

Pradhan Mantri Mudra Yojana

Purpose-

Working capital (Fund Based).
Term loans for all business purposes.

Eligibility-

Individuals and Small business units with a business plan for non farm income generating activity in manufacturing and services sector whose credit requirement is less than 10 lakhs are eligible for availing loans under PMMY.
Borrower should not have defaulted to any financial institution in respect of loans availed earlier.

Facility-

The PMMY loans are eligible under 3 categories

Shishu : covering loans upto 50,000/-
Kishore : covering loans above 50,000/- and upto 5 lakh
Tarun : covering loans above 5 lakh to 10 lakh

Quantum of Finance-

Total Exposure to the unit/Customer: Maximum upto Rs. 10 Lakhs as per scheme under which borrower is eligible.

Margin-

Loan amount Processing Charges Margin
Upto Rs.50000 NIL NIL
Rs. 50,001 - Rs. 10 lacs 0.50% of Loan amount
(in addition Service Tax as per
applicable rates to be recovered)

Other charges as applicable.

Interest Rate

Interest Rates are linked to Base Rate (BR at 9.30%)

CGTMSE covered accounts - BR+200 bps i.e. 11.30% pa (As on 10.03.2016)
Non-CGTMSE accounts - BR +230 bps i.e. 11.60% pa (As on 10.03.2016)

CGTMSE Guarantee:

All borrowers under PMMY with activity as Manufacturing and services are eligible to be covered under CGTMSE guarantee scheme.
Retail trade is not eligible for CGTMSE coverage

Security

Primary Security: Hypothecation of stocks / machinery / movables acquired out of Bank's finance.

Collateral: No collateral security to be obtained for all loans upto Rs. 10 lacs extended to units in the MSE sector as per RBI guidelines.

Repayment Period

Working Capital : Repayable on demand.
Term Loan: 3 - 5 years including a moratorium of upto 6 months.

Contact-
079-25509751
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