Bank of India
Business Loan

Amount Paid by

customer(EMI*12)

Interest paid during

the year

Principal paid during

the year

·         Maximum Rs. 5 Lakhs

·         One borrower-one e-rickshaw

·       Not more than three e-rickshaws to a single borrower under the scheme

·         15% of invoice cost or 20% of on-road price

·         Battery replacement allowed after one year: 25% of the battery replacement cost.

·         E-rickshaw: 48 months including one-month moratorium

·         Battery: 18 months including one-month moratorium

·         Hypothecation of vehicle

·         CGTMSE guarantee cover

·         First vehicle: 9.40%

·         Subsequent vehicles: 9.90%

·         Battery Replacement: 10.40%

·         First vehicle: Rs. 1,000

·         Subsequent vehicle: Rs. 2,000

·         Battery replacement: Rs. 500

·         ICAT/ARAI approval

·         Registered with local RTO

·         Minimum: Rs. 10 Lakhs

·         Maximum: Rs. 5 Crores

·         Stocks: 25%

·         Book Debts: 40%

·         CGTMSE coverage available

·         Where CGTMSE is not applicable: Minimum Counterparty Credit Risk (CCR) of 65%.

·         Cash Credit: Minimum Rs. 1 Lakh (Rs. 50,000 and for silk weavers) and maximum Rs. 5 Lakhs.

·         TL: Maximum amount is Rs. 2 Lakhs

·         Composite limit: Maximum Rs. 5 Lakhs

·         20% of the project cost

·         Government of India bears the margin money to the maximum extent of Rs. 10,000. The borrower has to bear the margin over the Government contribution.

·         Margin money assistance up to a maximum of Rs. 10,000

·         Interest Subsidy with the borrower bearing 6% and the difference being borne by the Government up to the extent of 7%

·         Annual guarantee fee of CGTMSE incurred by the Government

·         Loans up to Rs. 50,000 thru Mudra Card

·         Above Rs. 50,000 by way of CC A/c

·         As applicable to Micro-enterprises

·         Rs. 50,000 to less than Rs. 2 Lakhs: 9.90%

·         Rs. 2 Lakhs to Rs. 5 Lakhs: 10.90%

·         Government approval for running the educational institutions is necessary

·         Submission of three years audited financial statements

·         Continuous profit for a minimum of two years

·         New institutions are eligible subject to conditions

·         Entre level credit rating should be SBS 5

·         Construction/alteration/repairs and renovation of the building

·         Purchase of office and lab equipment and furniture

·         Minimum Rs. 10 Lakhs

·         Maximum Rs. 5 Crores

·         TL: 25%

·         WC: 10%

·         All assets purchased out of bank loan

·         Collateral: CGTMSE guarantee cover up to the extent permissible

·         Beyond the permissible amount: Bank can insist on the provision of adequate collateral.

·         Qualified doctors in all fields of medicine including physiotherapy and occupational therapy.

·         Non-individual borrowers eligible if qualified doctors hold a minimum of 51% stake.

·         Minimum age: 25 years

·         Maximum age: 60 years

·         Acquire premises to set up clinics, nursing homes, hospitals, and pathological labs or set up on rented premises subject to compliance with lease requirements.

·         Expansion, renovation, or modernization of existing premises

·         Purchase furniture, renovate existing clinics

·         Purchase medical equipment including diagnostic equipment

·         Purchase of ambulances

·         WC requirements

·         Term Loan: Five to Ten years including moratorium of one year to two years depending on the purpose

·         Capitalisation of interest allowed

·         Vehicle Loan repayable in five to seven years

·         Need-based: Term Loan

·         Vehicle Loan: Maximum Rs. 1 Crore

·         Working Capital: Maximum Rs. 1 Crore

·         Building: 25%

·         Equipment: 15%

·         Ambulance: 15%

·         Working Capital: Nil

·         Hypothecation of assets

·         Equitable mortgage of land and building

·         CGTMSE Guarantee available up to Rs. 1 Crore

·         Loans up to Rs. 10 Crores: No insistence of collateral

·         Above Rs. 10 Crores: Minimum 20% collateral

·         TL and WC: 9.90%

·         In the case of provision of collateral:

o   Above 25% up to 9.65%

o   Above 50% up to 9.40%

o   Vehicle Loan: 9.90%, in the case of women holding more than 51% shareholding, a concession of 0.50% is applicable.

·         Waiver of processing charges on retail loans to spouse

·         Free internet banking and debit card

·         50% discount on D-Mat A/c maintenance

·         No prepayment, if done from own sources

·         Top Up facility available

·         Competitive prices

·         Payment received on T+1 day

·         No follow up required with buyers

·         Not dependent on a single financier

·         Efficient liquidity management

·         Negotiate better with MSME vendors

·         Lower costs of inputs

·         Efficient cash-flow management

·         Ensure that their vendors do not face a liquidity crunch

·         Minimum Rs. 10 Lakhs

·         Maximum Rs. 5 Crores

·         30% of the average turnover of the last two years

·         2/3 of the amount will be WC limit and 1/3 for NFB limit

·         Hypothecation of assets of the company

·         Collateral: Maintenance of asset cover of 1.50

·         Sole proprietorship concerns, partnership firms. Pvt Ltd Companies, trusts, and societies conforming to the SME definition.

·         Have sufficient funds to pay the margin and recurring expenses

·         A satisfactory account with the entry-level credit rating of SBS 5

·         Buy transport vehicles for delivering products

·         Educational institutions can purchase school buses

·         No second-hand vehicles allowed

·         Hypothecation of the vehicle with bank's name entered in RTO records and RC book of the vehicle.

·         Collateral: CGTMSE guarantee cover available

Maximum quantum

·         Hypothecation of assets purchased with bank finance

·         EM of land and building

·         CGTMSE Cover

·         Up to Rs. 1 Lakh: Rs. 500

·         Up to Rs. 5 Lakh: Rs. 1,000

·         Up to Rs. 10 Lakhs: Rs. 1,500

·         Up to Rs. 50 Lakhs: Rs. 5,000

·         Up to Rs. 1 Crore: Rs. 10,000

·         Prime Minister Mudra Yojana Scheme

·         Stand-Up India Scheme

·         Category 1: Existing power loom units and new individual or group entities engaged in weaving activity

·         Category 2: Power loom units established by SC/ST or managed by a woman entrepreneur

·         Shishu: Up to Rs. 50,000

·         Kishore: Up to Rs. 5 Lakhs

·         Tarun: Up to Rs. 10 Lakhs

·         36 months for Demand Loan

·         84 months for Term Loan

·         Shishu: Nil

·         Kishore: 15%

·         Tarun: 15%

·         Hypothecation of all assets acquired from the bank loan

·         Collateral: Guarantee cover of NCGTC under Credit Guarantee Funds for Micro Units

·         Minimum age: 18 years

·         Only Greenfield projects eligible for finance

·         In the case of non-individuals, SC/ST individuals should have a minimum stake of 51%.

·         Should not be a defaulter

·         Hypothecation of assets financed through bank

·         Collateral: Credit Guarantee Fund Scheme for Stand-Up Loans

·         WC limit up to Rs. 10 Lakhs by way of OD with the issuance of Rupay Card

·         Above Rs. 10 Lakhs, the sanction is by way of Cash Credit Limit

·         Any individual above 18 years

·         Minimum VIII pass for projects costing over Rs. 10 Lakhs in the manufacturing and Rs. 5 Lakhs in the services sector

·         Two types:

o   SEP – I (Self-Employment – Individual)

o   SEP – G (Self-Employment – Group)

·         Individuals: Minimum age 18 and maximum is 70 years

·         Group: Minimum three members in a group with 70% of group members coming from low-income group families.

·         Up to Rs. 50,000: Nil

·         More than Rs. 50,000: 5% to 10%

·         WC facility: Minimum Rs. 50,000 (Rs. 1 Lakhs for silk weavers). The maximum amount is Rs. 5 Lakhs.

·         Term Loan: Maximum Rs. 2 Lakhs

·         Composite Loan: Maximum Rs. 5 Lakhs

·         Interest subsidy available where the borrower will bear 6% interest with the balance funded by the Government up to a maximum of 7%.

·         Margin money assistance: 20% of the cost of the project subject to a maximum of Rs. 10,000.

·         CGTMSE fees to be borne by the Government

·         Loans up to Rs. 50,000: Mudra Card

·         Above Rs. 50,000: By regular CC A/c

·         Hypothecation of assets

·         CGTMSE guarantee cover

·         As applicable to MSME

o   Above Rs. 50,000 up to Rs. 2 Lakhs: 9.90%

o   Above Rs. 2 Lakhs and up to Rs. 5 lakhs: 10.90%

·         Depends on the potential available

·         Minimum 30 units to be active within the cluster

·         Cluster identified by UNIDO, Ministry of MSME