SCHEME FOR RICE UNITS /SEED UNITS FINANCING

Purpose

  • Term loans are provided to extend long term credit facilities to entrepreneurs such as:

Expansion & Modernization of the unit

setting up of factory building and other infrastructure facilities

Technology Upgradation.

  • Working Capital Limit :is provided to meet working capital requirements.

Eligibility:

Corporate entities, partnership firms, Limited Liability Partnership firms, sole proprietorship concern etc.

Margin :

  • In Working Capital Financing- 15% on Paid Stock. 25% of Eligible Book Debts.
  • In Term Loans Financing- minimum -25% on purchase of plant and machinery and minimum 35% on construction of building.

Features :

  • Offering competitive rate of interest ie 8.80%.
  • Relaxation in case of Government Book Debts which may be allowed up to 120 days for computing drawing power in Rice units accounts.
  • Competitive Processing charges ie 0.25% as compare to other peer banks. 
  • Minimum inspection charges as compare to the other peer banks .
  • Complete waiver of NEFT/ RTGS charges
  • No commitment charges

  •   RATE OF INTEREST CHART (RICE AND SEED UNITS ACCOUNTS)

     

     

    CMR

    CMR

    CMR

    CMR

    1 to 4

    5 to 6

    7 to 10

    Collateral Security Coverage on RV

    For CC

    For TL

    For CC

    For TL

    For CC

    For TL

    Spre ad

     

    SP

    Applicable ROI

    Tenor Premiu m

    Applic able ROI

    Spre ad

     

    SP

    Applic able ROI

    Tenor Premi um

    Applicable ROI

    Spre ad

     

    SP

    Applicable ROI

    Tenor Premi um

    Applica ble ROI

    Above & inclusive of 100%

     

    0.00

     

    0.00

     

    8.80

     

    0.25

     

    9.05

     

    0.45

     

    0.25

     

    9.50

     

    0.25

     

    9.75

     

    0.75

     

    0.25

     

    9.80

     

    0.25

     

    10.05

    Above 75 up to 99%

    0.10

    0.00

    8.90

    0.25

    9.15

    0.70

    0.25

    9.75

    0.25

    10.00

    1

    0.25

    10.05

    0.25

    10.30

    Above & inclusive of 50%

    up to 75%

     

    0.45

     

    0.25

     

    9.50

     

    0.25

     

    9.75

     

    0.95

     

    0.25

     

    10.00

     

    0.25

     

    10.25

     

    1.5

     

    0.25

     

    10.55

     

    0.25

     

    10.80