Mahabank GST Credit Scheme
Eligibility | - MSME Units engaged in trading/services/manufacturing activity irrespective of constitution with standing in business of at least one year.
- The MSME unit/borrower should have requisite registration under GST Act i.e., Provisional Registration (GST REG-25) or Final Registration (GST REG-06)
- The MSME unit/borrower should have valid GST returns i.e., GSTR-1(Regular) for minimum latest 3 months / GSTR-4(Composition) for latest quarter.
- The facility under the scheme is available only under Sole Banking.
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Purpose | To fund need based working capital requirement for trading/services/manufacturing activity |
Nature of Facility | Working Capital (Fund & Non fund based) |
Quantum of Finance | Minimum above Rs.10.00 lakh; Maximum upto Rs.25.00 crore |
Margin | 25% of paid stock & receivables |
Rate of Interest | RLLR linked- Incentive by way of ROI reduction if collateral is provided
- CGTMSE cover available for loan amount of upto Rs.5 Crore
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Security | Primary: Hypothecation of Inventory & Receivables Guarantee: - No third party guarantee or collateral security, if the advance is covered under CGTMSE.
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Processing Fees | As per extant guidelines |
CMR for New / fresh Borrower | CMR 1 to CMR 4 |
Concession in Processing Charges for takeover loans / new MSME borrowers (New to Bank) | CMR | Processing Fee |
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1 & 2 | NIL | 3 & 4 | 50% Concession |
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