UNITED BANK OF INDIA
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Charter for Small Scale Industries
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- Simplified loan application
- Receipt of loan applications complete in all respect is acknowledged
- Time norm for disposal of loan applications from the date of receipt
Upto Rs. 25000/- |
2 weeks |
Rs. 25000/- to Rs. 5.00 lacs |
4 weeks |
Over Rs. 5.00 lac |
8-9 weeks |
- No collateral security for loans upto Rs. 5.00 lac and, for existing borrowers with good track record, no collateral for loans upto Rs. 15.00 lacs
- Guarantee coverage is available for loans without collateral from Credit Guarantee Fund Trust Scheme (CGTSI) for limits upto Rs. 25.00 lac on payment of guarantee fee of 2.5% one time only and annual service charge of 1% on the outstanding balance of last March every year upto 5 years
- Composite loan available upto Rs. 25.00 lac
- Working capital finance of 20% of projected annual turnover available upto Rs. 5.00 crore of fund based limit
- Hassle free Laghu Udhami Credit Cards available for loan limits upto Rs. 2.00 lac
- United Udyogshree Yojana provides hassle free credit facilities under SSI for borrowers and depositors with good track record for last three years at reduced rate of interest by 0.5%. Lower margin and service charges ar5e considered under the scheme.
- Present rate of interest on SSI advances of loan limits:
Upto Rs. 25000/- |
8.25% |
Rs. 25000/- to Rs. 1.00 lac |
8.75% |
Rs. 1.00 lac to Rs. 1.00 lac |
9.50% |
Over Rs. 2.00 lac |
As per Credit Risk Rating |
- Industrial units coming under Hosiery, Handtools, Stationery, Drugs & Pharmaceuticals sectors, having investment in Plant & Machinery upto Rs. 5.00 crore are also treated as Small Scale units as per RBI Guidelines.
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