INDIAN BANK

Time Bound Loans for Small Scale Industries

• No collateral security for advance upto Rs. 5 lacs
• No collateral security for advances over Rs. 5 lacs & upto Rs. 15 lacs based on good track record and financial position
• For loans sanctioned without collateral security / Third Party Guarantee with limits upto Rs. 25 lacs, guarantee is available under Credit Guarantee Fund Trust Scheme for SSIs (CGTSI)
• Composite loan upto Rs. 50 lacs is sanctioned to SSI units


LOAN QUANTUM


• Minimum 20%of projected annual sales (Nayak Committee Norms) for working capital limits upto Rs. 5 crores
• Branch Managers empowered to sanction adhoc limits upto 20% of Working Capital Limits (both Fund Based and Non=Fund Based).


INTEREST RATE STRUCTURE


• Maximum Spread reduced from 4% to 2%
  

  Advances	Interest Rate
  Limits upto Rs. 2 lacs	PLR - 1%
  Limited above Rs. 2 lacs	PLR + 2%


INCENTIVES


• 0.5% Interest rebate for prompt repayment of Term Loan instalments
• On time cash incentive of Rs. 10,000/- for ISO certified SSI borrowers