SCHEME FOR RICE UNITS AND SEED UNITS FINANCING

SCHEME FOR RICE UNITS /SEED UNITS FINANCING

Purpose :

For Term Loans, Working Capital Loans, Bank Guarantee & Letter of Credit.

  • 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