Saraswat Bank introduces a scheme for Professionals and Small Business Enterprise which takes care of their financial requirements. The facilities and features being offered are enumerated below ,you may contact our nearest branch and apply:
The features are:
|Retail Traders||Small Businessman
|Amount||Max. Rs.50 lacs||Max. Rs.50 lacs||Max. Rs.50 lacs||Max. Rs.50 lacs|
|Basis||Working Capital : 20% of turnover
Term Loan : 3 times of net cash accruals or
80% of cost of the asset to be purchased whichever is less.
|ROI||PLR – 2.75% i.e. 11.50%.
0.10% concession for woman entrepreneur
|Repayment||Max. 7 years
Max. moratorium period 1 year.
|Security||Primary security : Fixed assets like shop, furniture, etc.
Charge on Current assets for working capital
Term loan for acquiring office/shop premises – Nil
Term Loan for acquiring other assets and/ or Working Capital limit –
Upto Rs.10 lacs Nil
Above Rs.10 lacs Upto Rs.25 lacs 25% of the advance amount
Above Rs.25lacs 50% of the advance amount.
|Shareholding||2.5% of facilities sanctioned , max. Rs.25,000.|
For Micro and Small Enterprises upto Rs. 5 lacs : NIL
Upto Rs.10 lacs Rs.5,000.