Purpose of the loan
About MSME Loan
At Equitas, we understand the unique challenges faced by the Self-Employed and MSMEs in accessing formal finance, especially for significant capital requirements. Recognizing the pivotal role of the “Missing Middle” in India's economic growth, our MSME Loan caters to this segment with specially tailored financial solutions.
Application Process & Timeline
Notification of Decision: Communication of sanction/rejection within specified timelines, based on the credit limit applied.
Complete Documentation: Ensure your application is accompanied by all necessary documents.
Charge Description
Particulars
Processing Fee
Upto 2% of the facility amount
Proposal Login Fee (Non refundable)
Rs. 5000/-
Renewal / Review Fee for Existing cases
Upto 2% of the facility amount
Commitment Charges in case quarterly average utilisation in CCOD account is < 60%
0.5% p.a. on the difference between the actual utilisation and average utilisation of 60% for the quarter
Take Over/ Pre-closure Charges (full pre-closure)
Working capital -5% of the Sanctioned amount Term Loan - 5% of principal outstanding
Term Loan part pre-closure
Upto 5% on the principal amount prepaid
Overline charges in OD/CC (utilisation above drawing power)
Upto 24% p.a. of the limit overdrawn above drawing power from the date of Overline till the date of regularisation of limits
Penal Charges for limit expired Temporary Overdrafts (TOD)
Upto 24% p.a. on the utilised limit till the date of regularisation of limit
Penal Charges for Term Loan
Upto 36% p.a. on overdue instalment due but not paid till overdue amount is regularised
Incremental Interest on sanctioned Temporary Overdrafts (TOD) & Adhoc limit
Upto 2% p.a. on the sanctioned TOD & Adhoc limit utilisation till the facility is regularised
Conversion Charges for switching loan from fixed to floating rates or vice versa,
Term Loan: One-time charge of 0.25% on principal outstanding or Rs.5000/- whichever is higher Working capital: One-time charge of 0.25% on sanction amount or Rs 5000/- whichever is higher
Working Capital: Penal Charges for Non-submission of Stock Statement / covenant not complied /Renewal docs not submitted / Property or stock insurance not submitted
Upto 24% p.a. on the utilised limits till the conditions are complied
Term Loan: Penal Charges for Non-Submission of property insurance / covenant not complied
Upto 24% p.a. on the principal outstanding till conditions are complied
Commission on LC- Usance
Upto 1.5% p.a. on Usance LC for first 3 months: Minimum of Rs. 2000/- Additional 1.5% for LC Usance period beyond 3 months but within 6 months: Minimum of Rs. 2000/-
Commission on LC- Sight
Upto 1% p.a. on LC value- Minimum Rs.1500/-
LC Text Amendment Charges
Rs.750/- per amendment
LC Value & Tenure Amendment
Will be charged as LC issuance charges plus amendment charges as above
LC Bill Handling charges
Rs.750/- per Bill
LC Bill Acceptance charges
Rs.750/- per bill
Discrepancy charges
Rs.750/- per bill
Stamp charges
Actual
SFMS Charges
Actual
LC Cancellation charges
Rs.1000/-
LC Payment commission
0.75% p.a.
LC Devolvement
20% up to 90 days 24% Above 90 days
Issuance of Bank Guarantee- Performance Guarantee
1.5% p.a. on BG amount Minimum of Rs. 1500/-
Issuance of Bank Guarantee- Financial Guarantee
2.0% p.a. on BG amount Minimum Rs. 2000.
BG Issuance Handling Charges (Courier Charges extra)
Rs.200/- (Courier charges should be separate)
Text Amendment Charges
Rs.500/- per amendment
Increase in Tenure or Value
Will be charged as BG issuance charges
BG Claim handling charges
Rs.500/- per claim
BG Cancellation charges
Rs.1000/-
ROC Filing charges
Actuals as applicable
Issuance of Solvency Certificate
0.5% of solvency certificate value (Min of Rs 1000/- and max of Rs 10000/-)
BG Invocation
20% up to 90 days 24% Above 90 days
CERSAI Charges (Stock/ Receivables/ Plant & Machinery and Collateral Security)
Rs.100/-
Stock and Receivables Audit- External
Rs. 10000/- Metro Locations Rs. 6000/- Other Regions
Credit Shield Insurance
Actuals as applicable
Stock Insurance
Actuals as applicable
Property Insurance
Actuals as applicable
Schedule of Charges
Account Features for CC/OD Product code
Account Features for CC/OD Product code
Interest Rate
Cheque book
Collections
Payments
Cash Charges
Other Charges
Certificate and Report issuance
Doorstep Banking*
Interest Rate
The Interest Rates for MSE segment is linked to External Benchmark Rate- Repo Rate, published by the Reserve Bank of India.
Working Capital
Up to 16.00% p.a
Term Loan
Upto 16.75% p.a
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