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Customer Charter to SSI
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TIME - BOUND LOANS FOR SMALL SCALE INDUSTRIES
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| Loans upto Rs.25,000/- |
2 Weeks |
| Over Rs.25,000/- and upto Rs. 5 lakhs |
4 weeks |
| Over Rs.5 lakhs |
8 - 9 weeks |
- The exemption limit of SSI borrowal accounts for obtention of collateral
security is Rs 5.00 lakhs
- Based on good track record and financial position of the units the dispensation
limit of collateral requirement for SSI loans is now extended upto Rs 25.00
lakhs
- For loans sanctioned without collateral security/Third party Guarantee
with limits upto Rs 25 lakhs, guarantee is available under Credit Guarantee
Fund Trust Scheme for SSIs (CGTSI).
- For loans covered under Credit Guarantee Fund Trust Scheme (CGTSI) the one time up front fee of 2.5% is borne by the Bank (w.e.f. 01 04 2004)
- Composite loans upto Rs 50 lakhs is sanctioned to SSI units
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| LOAN QUANTUM |
- Minimum 20% of projected annual sales (Nayak Committee Norms) for working
capital limits upto
Rs.5 crores
- Branch Managers empowered to sanction adhoc limits upto 20% of Working
Capital Limits (both Fund based and Non- Fund Based)
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| INTEREST RATE STRUCTURE |
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Advances - SSI
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Interest Rate
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| Working Capital & Term Loan < 36 months |
Term Loan (36 months and above) |
| Limits upto Rs 2 lakhs |
BPLR - 1% (presently 10%) |
BPLR + TP - 1% (presently 10.50%) |
| Limits above Rs 2 lakhs |
PLR + 2% * (presently 13.00%) |
PLR + TP + 2% * (presently 13.50%) |
* Finer rate of interest upto PLR are given based on credit rating .
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| INCENTIVES |
- 0.5% interest concession is given for prompt repayment of Term Loan instalments
- One time cash incentive of Rs 10,000/- for ISO certified SSI borrowers.
- Introduction of Preferred Customer Credit (P3C) - Smart Card to SSI / SME Customers to facilitate flexibility in operating the account.
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