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SME

MSME – Term Loan

Target Group
  • Traders
  • Businessmen
  • Professionals with good track record
Purpose
  • To meet investment needs like creation of fixed assets, expansion of unit, purchase of machinery etc., in MSME - Manufacturing, Services and Retail Trade sectors
Type of Loan
  • Term Loan
Quantum of Loan
  • Based on the project
Margin
  • Plant and Machinery – 25%
  • Building construction – 30%
Category Quantum of Loan Margin
Sishu Upto ₹50,000/- NIL
Kishore Above ₹50,000/- upto ₹5.00 lakh 10%
Tarun Above ₹5.00 lakh upto ₹10.00 lakh 15%
Schemes covered
  • MUDRA
  • PMSVANidhi
  • Stand-Up India
  • PMEGP
  • UYEGP
  • NEEDS
  • PMFME
  • TAHDCO and other Government sponsored schemes
Rate of Interest
Security
  • Primary security – Hypothecation of assets created out of loan.
  • Collateral security - Immovable / other tangible security of at least 125% of the limit sanctioned
Repayment Period
  • Term Loan – Maximum upto 10 years
Processing Charges
  • 0.60% of the Limit sanctioned
How to apply
  • Please contact nearest Tamil Nadu Grama Bank’s Branch for more details