Business OverDraft

Over Draft Facility for Business Activities.

Micro, Small and Medium Enterprises (MSMEs) is the backbone of economic growth. Kerala Gramin Bank provides loans to cater various business needs under MSME segment.

Purpose

  • Working capital finance for Traders.
  • Working capital finance for manufactures.
  • Working capital finance for Service providers

Eligibility

  • Borrowers can be Individuals, proprietary, partnership concerns, SHGs, Companies, Trusts in MSME segment (service units) engaged in contractor/sub- contractor activity and falling within the meaning of Micro, Small & Medium Enterprises as defined in MSMED Act, 2006
  • Borrower Should be Creditworthy and should have satisfactory dealings with the Bank .
  • For new units, the market reputation of promoter should be satisfactory and he/she must be able to produce valid proof of business and size of turnover,in order to estimate the eligible limit.
  • The party must agree for the periodical inspection of the books of accounts maintained by him, by the branch officials and / or by the inspecting officials of the Bank as and when required.

Limit & Margin

    Limit

  • Minimum loan amount is Rs. 1 lakh
  • Eligible limit is sanctioned on the basis of Working Capital requirement, upto 20 % of turn over.
  • For new units, loan limit will be 80% of the working capital arrived under Operating Cycle Method.
  • Margin

  • A margin of 5% needs to be invested by the borrower.
  • For new units, margin will be 20% of the working capital arrived under Operating Cycle Method.

Security

    Up to Rs.1 lakh

  • Hypothecation of assets
  • Coobligation of a worthy person.
  • Above Rs.1 lakh

  • Hypothecation of assets.
  • Collateral security of Immovableproperty .
  • The value of Collateral security should not be less than 150% of the working capital limit.

Repayment

  • Working capital loans are tenable for 24 months subjected to annual Review.

Interest Rates & Charges

  • Please visit Loan interest rates page for details.
  • Please visit Service charges page for more details.
  • Working capital finance for Traders.
  • Working capital finance for manufactures.
  • Working capital finance for Service providers
  • Borrowers can be Individuals, proprietary, partnership concerns, SHGs, Companies, Trusts in MSME segment (service units) engaged in contractor/sub- contractor activity and falling within the meaning of Micro, Small & Medium Enterprises as defined in MSMED Act, 2006
  • Borrower Should be Creditworthy and should have satisfactory dealings with the Bank .
  • For new units, the market reputation of promoter should be satisfactory and he/she must be able to produce valid proof of business and size of turnover,in order to estimate the eligible limit.
  • The party must agree for the periodical inspection of the books of accounts maintained by him, by the branch officials and / or by the inspecting officials of the Bank as and when required.

    Limit

  • Minimum loan amount is Rs. 1 lakh
  • Eligible limit is sanctioned on the basis of Working Capital requirement, upto 20 % of turn over.
  • For new units, loan limit will be 80% of the working capital arrived under Operating Cycle Method.
  • Margin

  • A margin of 5% needs to be invested by the borrower.
  • For new units, margin will be 20% of the working capital arrived under Operating Cycle Method.

    Up to Rs.1 lakh

  • Hypothecation of assets
  • Coobligation of a worthy person.

    Above Rs.1 lakh

  • Hypothecation of assets.
  • Collateral security of Immovableproperty .
  • The value of Collateral security should not be less than 150% of the working capital limit.
  • Working capital loans are tenable for 24 months subjected to annual Review.
  • Please visit Loan interest rates page for details.
  • Please visit Service charges page for more details.

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