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) |