Individuals/proprietary concerns/partnership firms, private limited companies or any legal entity engaged in business - retail trade, distributors, stockists, commission agents, etc., are eligible for finance under this scheme, for a period of 1 year, with the provision for yearly renewal.
Quantum of Loan:
Need based credit limit subject to a maximum of Rs 25 lakhs.
Rate of Interest:
BPLR +1.75%= 14%
V-Trade (Maximum loan amount Rs. 25 lakh)
|OTHER THAN INDIVIDUALS||Rs.620/- per lakh||Minimum: Rs.1240/-||Maximum: Rs.15,500/-|
|INDIVIDUALS IN OTHER THAN RURAL AREAS||Rs.562/- per lakh (0.562%)||Minimum: Rs.1124/-||Maximum: Rs.14,050/-|
|INDIVIDUALS IN RURAL AREAS||Rs.506/- per lakh (0.506%)||Minimum: Rs.1012/-||Maximum: Rs.12,700/-|
Repayment of Loan:
Loan will before a period of 3years subject to review every year.
Immovable property @ 25% margin and/or other securities like NSC, KVP and Govt. securities, SV of policies to the extent of the Limit. For limits and Rs.10 Lakhs - Collateral security of stock is taken (insured and inspected annually).
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