MSME LOAN
MSME Loan
We know that formal financing options for all the Self-Employed, driven segment are limited. Especially, when you need to mobilise significantly high amount of money. The dependence on informal sources (chit funds, private money lenders, etc) is high.
We at Equitas recognise the “Missing Middle” segment’s requirement and have been giving importance to it because we know your contribution is very significant to our country’s growth.
Purpose of the loan – The loan may be provided to MSME units for meeting any of the following expenses:
- Working capital for existing business
- Term Loan for expansion of existing business
- Purchase of plant & machinery, equipment
- Construction of factory, godown, building spaces for business
- Other expenses for business purposes
| 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% pa on the difference between the actual utilisation and average utilisation of 60% for the quarter |
| Take Over/ Pre-closure Charges (full pre-closure) |
|
| Term Loan part pre-closure | 4% on the Term loan principal amount Pre paid |
| Late payment penalty for Term Loan | 24% pa on overdue instalment due but not paid till overdue amount is regularised |
| Incremental Interest on Adhoc limits | 2% pa over and above the existing interest Rate on Adhoc limit utilisation till Adhoc is repaid |
| Incremental Interest on Temporary Overdrafts (TOD) | Minimum 2% p.a. over and above Interest rate of CC/OD facility till TOD is regularised |
| Conversion Charges for switching loan from fixed to floating rates or vice versa |
|
| Working capital - Penal Interest for non-submission of Stock Statement / covenant not complied /Renewal docs not submitted / Property or stock insurance not submitted | 2% pa over and above the existing rate charged on facility utilisation till conditions are complied |
| Term loan – Penal interest for Non-Submission of property insurance / covenant not complied | 2% pa over and above the existing rate on Term loan principal outstanding till conditions are complied |
| Commission on LC - Usance |
|
| Commission on LC - Sight | Upto 1% p.a. on LC value .Minimum Rs.1500/- per issuance. |
| LC Text Amendment Charges | Rs.750/- per amendment |
| LC Value & Tenor 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/- per LC |
| LC Payment commission | 0.75% per bill |
| LC Devolvement |
|
| Issuance of Bank Guarantee - Performance Guarantee | 1.5% p.a. on Bank Guarantee Amount. Minimum of Rs.1500/- |
| Issuance of Bank Guarantee - Financial Guarantee | 2 .0% p.a on Bank Guarantee Amount. Minimum Rs.2000/- |
| BG Issuance Handling Charges (Courier Charges extra) |
Rs. 200/- |
| Text Amendment Charges | Rs.500/- per amendment |
| Increase in Tenor or Value | Will be charged as BG issuance charges |
| BG Claim handling charges | Rs.500/- per claim |
| BG Cancellation charges | Rs.1000/- per BG |
| ROC Filing charges | Rs. 3000/- per filing on availing bank empaneled vendor services. |
| Issuance of Solvency Certificate | 0.5% of solvency certificate value (Min of Rs 1000 and max of Rs 10000) |
| BG Invocation |
|
| CERSAI Charges (Stock/Receivables/ Plant & Machinery and Collateral Security) |
Rs. 100/- per security |
| Stock and Receivables Audit –External | Rs. 10000/- for Metro Locations Rs. 6000/- Other Regions |
*Taxes as applicable will be additional and subject to change from time to time
Account Features for CC/OD Product code
- Interest Rate
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Competitive Rate linked to External Benchmark (Rate is arrived based on Repo Rate) published by the Reserve Bank of India.
- Cheque book
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Charge Type Charges Applicable Free Cheque book (PAP cheque book of 25 leafs) 10 cheque book free per month. Charges beyond free limits Rs. 2 per leaf - Collections
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Charge Type Charges Applicable Local Cheque clearing Free Outstation cheque collection charges at bank/non-bank location Free RTGS Inward Free NEFT Inward Free IMPS Inward Free - Payments
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Charge Type Charges Applicable Demand Draft and Payorder at branch locations Free upto 10 DDs or POs per day Charges beyond free limits Rs. 50 per DD Demand Draft at non-branch locations Rs. 100 per DD PAP Cheque payment Free RTGS and NEFT Outward Charges at branch (Free online) Free IMPS Outward Free Charges beyond free limits Rs. 20 per txn - Cash Charges
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Charge Type Charges Applicable Cash Deposit Charges (Home Branch) Rs. 3/1000 Cash Deposit Charges (Non Home Branch) Rs. 4/1000 Cash Withdrawal at home location Free Cash Withdrawal at Non-Home location Free upto Rs. 100000/- per day by self or third party, beyond which charges of Rs. 4/1000 - Other Charges
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Charge Type Charges Applicable Debit card Not issued for this product stop payment single cheque Rs. 100/- per cheque stop payment series Rs. 150/- for a series of 25 cheques Outward cheque return charges for financial reasons Rs. 50/- per cheque Outward cheque return charges for technical reasons NIL Inward cheque return charges for financial reasons Upto 2 cheques Rs. 350/- per cheque, 3-5 cheques Rs. 500, 6th cheque onwards Rs. 750 per cheque Inward cheque return charges for technical reasons NIL Standing instructions set up Free Standing Instructions failure (return) Rs. 200/- per return ECS/NACH Return due to financial reasons Rs. 200/- per return SMS Alerts Rs. 15 per Quarter - Certificate and Report issuance
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Charge Type Charges Applicable Balance Certificate at Branch (Online Free) Rs. 250/- per instance Previous Year balance and interest statement 1 free per annum, more than 1- Rs. 300/- per statement Signature verification certificate/Photo Attestion/Address Confirmation Rs. 50/- per instance Stock Statement non-submission charges Rs. 750/- per month/Quarter Duplicate TDS certificate Rs. 100/- Duplicate account statement Print (Free Online or on email) Rs. 200/- DD/PO revalidation/cancellation Rs. 100/- - Doorstep Banking*
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Charge Type Charges Applicable Cheque pickup Oncall per instance Free one pickup per day (More than once a day Rs. 50/- per call) Cheque Pickup beat (per month) Free once a day (More than once a day Rs. 50 per call) Cash pickup Beat (charges per month) Upto Rs. 200000 Free twice a week (Beyond which charges as per oncall applicable ) Rs. 200000 to Rs. 500000 Rs. 3200/- Rs. 500000 to Rs. 1000000 Rs. 8000/- Rs. 1000000 to Rs. 2000000 Rs. 12000/- Rs. 2000000 above Contact Branch Cash pickup On call (charges per instance) Upto Rs. 200000 Rs. 150/- Rs. 200000 to Rs. 500000 Rs. 300/- Rs. 500000 to Rs. 1000000 Rs. 500/- Rs. 1000000 to Rs. 2000000 Rs. 800/- Rs. 2000000 above Contact Branch * Available on request at select locations only Taxes as applicable will be additional
Apply nowNotification of Sanction/Rejection will be communicated to you , within two weeks in case your application is for a credit limit or enhancement in existing credit limit up to Rs. 5 lakhs ; within 3 weeks in case your application is for a credit limit or enhancement in existing credit limit above 5 lakhs and upto 25 lakhs; and within 6 weeks in case your application is for a credit limit or enhancement in existing credit limit above 25 lakhs from the date of receipt, provided your application is complete in all respects and is accompanied by documents as per `check list’ provided.
