| Purpose |
To purchase any solar driven livelihood products which assist their income generating activity under MSME. |
| Eligibility |
Permanent Resident of the command Area, engaged in any income generating activity intended to purchase the product to improve his income level. |
| Target Group |
Individual/firm engaged in MSME activity |
| Quantum of Finance |
Maximum loan amount is Rs.2,00,000/-.
|
| Margin |
| Loan Amount |
Margin |
| Upto Rs.25000/- |
10% |
| Rs.25000 to Rs.50000/- |
15% |
| Rs.50001 to Rs.100000/- |
20% |
| Rs.100001 to Rs.200000/- |
25% |
|
| Release |
Directly along with margin money |
| Rate of Interest |
11%pa & OD @ 13%pa |
| Repayment Period |
Repayable in 60 EMI |
| Interest |
Interest will be capitalized half yearly. Interest shall be recovered along with installment. |
| Security |
Primary:
Hypothecation of assets purchased out of loan proceeds
Collateral(If not covered under CGTMSE):
Up to & inclusive of Rs.50000/--No collateral security is required
>50000/- -Collateral security by way of Mortgage of Non Agricultural property / NSC/KVP, Deposits , LIC policies / Vehicles : Valued not less than 25% of loan amount
|
| Co-oblignat/ Surety |
One credit worthy surety acceptable to the Bank (if not covered under CGTMSE) |
