MSME Samriddhi Loans

Primary :

Cash Credit: Hypothecation (First charge) over the entire current assets, existing & future b) Term Loan: Exclusive Hypothecation / Mortgage charge over the assets purchased/created out of our loan

Collateral:

Registered (OR) Equitable Mortgage of NA Residential, Commercial, Industrial Properties; Liquid Security (Fixed Deposits & LIC Policy surrender value).

For Loans on Repo Rate:

Competitive interest rate will be linked to Prevailing Repo Rate. Ceiling rate will be 18% Per annum. PF 0.75% + Applicable taxes

• Repo Rate Reset Frequency - Once in 3 months or as decided by Bank, whichever is earlier.
• The bank is free to decide the spread over the Repo Rate. The spread may undergo a change during the tenure of Loan.
• Customers who have already availed disbursement or received a sanction prior to October 1, 2019 will continue to operate on MCLR. Existing customer can get in touch with our customer care, if they wish to switch to Repo Rate.

For Loans on MCLR:

Ceiling rate will be 18% per annum. PF 0.75% + Applicable Taxes.

• MCLR reset frequency- Monthly/ Quarterly/Half Yearly/Yearly

For Loans on Base Rate:

• Existing Loan on the Base Rate will continue till maturity or can be converted into Repo Rate on Customer request.