Loan schemes/Interest Rates

The Corporation would endeavour to extend comprehensive services including term loan, working capital and special schemes that may be required for benefit of the SME sector. The Interest and principal are to be paid in monthly rests for all schemes. The extent of financing is based on the type of the project and credit rating. Interest rates, extent of financing and maximum period of loans are given below:

INTEREST RATES FOR LOAN SCHEMES FOLLOWING FLOATING RATE EFFECTIVE FROM 01/05/2014

Sl. No. Name of Scheme Interest rate gross linked to PLR Rebate for prompt payment Interest reduction based on credit rating (>=65%) Interest reduction based on credit rating (>=70%) Interest reduction based on credit rating (>=75%) Effective rate
1 2 3 4 5 6 7 8
Scheme for Term Loan for industrial activities  
1 a) MSME Units in Manufacturing sector except crusher units, SC/ST Entrepreneurs, Renewable energy projects and Units promoted by women entrepreneurs in Manufacturing sector 14.50% 2.00% 0.50% 0.50% 0.50% 11.00%
  b) Loans to Crusher projects 14.50% 1.50% 0.50% 0.50% 0.50% 11.50%
c) MSME Units in Service sector 15.50% 2.00% 0.50% 0.50% 0.50% 12.00%
d) Energy Saving Projects 15.00% 7.50% 0.50% 0.50% 0.50% 6.00%
2 Working Capital Revolving Fund Loan / WCTL 15.50% 2.00% 0.50% 0.50% 0.50% 12.00%
3 Construction Activities and Housing Projects 16.50% 1.50% 0.50% 0.50% 0.50% 13.50%
4 Short Term Loan 15.50% 2.00% 0.50% 0.50% 0.50% 12.00%
5 Special Working Capital Assistance to Hotels 15.50% 2.00% 0.50% 0.50% 0.50% 12.00%
6 Scheme for Financial Assistance to contractors 16.50% 1.50% 0.50% 0.50% 0.50% 13.50%
7 Scheme for Financial Assistance for producing Films and TV serials 16.50% 1.50% 0.50% 0.50% 0.50% 13.50%
8 Scheme for Modernization, Upgradation and Expansion of Existing Cinema Theatres/Establishment of New Multiplexes 16.50% 2.00% 0.50% 0.50% 0.50% 13.00%
9 Vehicle Loan 15.50% 2.00% 0.50% 0.50% 0.50% 12.00%
10 Working Capital Term Loan 15.50% 2.00% 0.50% 0.50% 0.50% 12.00%
11 (a) Modernisation / expansion scheme(Manufacturing sector except Crusher) 14.50% 2.00% 0.50% 0.50% 0.50% 11.00%
(b) Modernisation / expansion scheme(Manufacturing Crusher) 14.50% 1.50% 0.50% 0.50% 0.50% 11.50%
(c) Modernisation / expansion scheme( service sector) 15.50% 2.00% 0.50% 0.50% 0.50% 12.00%
12 Special revolving fund for existing customers 15.50% 2.00% 0.50% 0.50% 0.50% 12.00%
13 Receivable Finance Scheme 16.50% 0.00% 0.00% 0.00% 0.00% 16.50%

Note:

  1. For all existing loan which are availing interest reduction based on credit rating the same has to be reviewed annually and at the time the account goes standard.

  2. Loan to existing Micro Finance Institutions will be at 14%.

  3. In case of any change in market conditions, trends, cost of funds, or any other new development, interest rates can be varied upto 1% (increased or decreased) for any scheme by CMD.

  4. The existing loans extended under NRK scheme will continue to carry the existing rate of interest.

  5. Interest reduction based on credit rating of 70%/75% and above can be allowed by CMD on case to case basis.

  6. Warehouse/Godown will come under service sector with Gross rate of 15.5%.

 

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