MSME – CC/OD

Target Group
  • Traders
  • Businessmen
  • Professionals with good track record
Purpose
  • To meet working capital requirements in MSME - Manufacturing, Services and Retail Trade sectors
Type of Loan
  • Cash Credit (or) Secured Over Draft
Quantum of Loan
  • OCC - Based on projected Sales/Turnover, Stocks and Book debts
  • SOD - Based on projected Sales/Turnover
Margin
  • OCC - 25% on Stocks and Book debts
  • SOD - 50 % on value of immovable property
Schemes covered
  • MUDRA
  • PMSVANidhi
  • Stand-Up India
  • PMEGP
  • UYEGP
  • NEEDS
  • PMFME
  • TAHDCO and other Government sponsored schemes
Rate of Interest
Security OCC:
  • Primary security – “Stocks and Book Debts (less than 90 days)” with a margin of 25%.
  • Collateral security – Immovable / other tangible security of at least 125% of the limit sanctioned
SOD:
  • Primary security – Immovable properties with a value of 200% of the limit to be obtained
  • Collateral security – Stocks and Book Debts less than 90 days of age (if available)
Repayment Period
  • CC or SOD – Renewable every year
Processing Charges
  • 0.60% of the Limit sanctioned
How to apply
  • Please contact nearest Tamil Nadu Grama Bank’s Branch for more details