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Home > MSME Finance |
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Loans to Professionals & Self-employed
Service sector is the biggest contributor to India's growth story, accounting for more than 50% of the GDP. With a view to provide financial assistance to those who are professionals and self-employed and engaged in service activity for the different sectors of the economy this product has been designed.
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| Sr. No |
Field |
Content |
| 1 |
Eligible Segments |
All the Professionals and Self-Employed persons including:
- Chartered Accountants, Company Secretaries, Engineers, Architects, Surveyors, Contractors, Management Consultants
- Doctors/Medical Practitioner, Healthcare Centres
- Packaging, Storage & Warehouse Services
- Transport/Taxi Services, Travel & Tour Operators, Travel Agents
- Event Management, Publicity & Media Coverage
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| 2 |
Facility |
Fund Based: 1. Over Draft / Cash Credit
2. Term Loan
Non Fund Based: Bank Guarantee & Letter of Credit |
| 3 |
Purpose |
- OD/Cash Credit: To meet working capital requirement
- Term Loan: For purchase of premises for conducting business, equipments, computers, furniture, fixtures, undertaking development expansion, additions, repairs and renovation of business premises and infrastructure
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| 4 |
Loan Amount |
- Minimum: Rs 5 lacs
- Maximum: Rs 500 lacs
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| 5 |
Tenor |
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| 6 |
Pricing |
Interest Rate linked to Bank Base Rate and would be based on scores obtained in the scoring model. |
| 7 |
Security |
- Primary: Book debts, stocks and Assets created out of loan proceeds
- Collateral: Security in form of immovable property such as residential house / flat / bungalow/ commercial property etc
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| 8 |
Margin |
Depending on the nature of the loan. |
| 9 |
Processing Charges |
1% of the loan amount with minimum of Rs.5000.00 |
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