Mahabank Professional Loan Scheme (MPLS)
Qualified Chartered Accountant, Company Secretary (CS) & Architect approved or registered with central/State statutory or regulatory authority
- Having independent practice and with minimum 2 years of work experience post qualification.
- Eligible to be classified as MSME under the MSMED Act 2006 and should possess Udyam Registration certificate.
- For acquiring premises on ownership basis required for office purpose subject to compliance with license / registration requirements under laws of State / Central Govt. as the case may be,
- Renovations, expansion and modernization of existing Centre/business.
- Purchase of equipments, furniture & fixture, furnishing, renovating existing office, professional tools, computers, UPS, software etc.
- Purchase of vehicles for self-use
Nature of Facility
- Term loan
- Clean Cash Credit limit – up to 20% of the term loan amount max. Up to Rs.5.00 lacs by way of sub limit. (The clean cash credit limit be sanctioned only when term loan is availed and additional charge is created on the asset created through the term loan.)
Quantum of Finance
- Minimum: Above Rs.10.00 lakh
- Maximum: Up to Rs.2.00 crore
Rate of Interest
8.05% p.a. onwards (RLLR linked)
- Term Loan- 20% of project cost, Vehicle- 15% on road cost
Maximum 7 Years
A. Processing Fee
- Term Loan: New 1.00% + GST; Review 0.10% (Max. Rs.2 lakh)
- Working Capital: New 0.30% + GST
B. Documentation Charges
C. Supervision/ Inspection Charges
- Up to Rs.1.00 crore: 0.25% p.a. (Max. Rs.15000/- p.a. + Cost of visit on Actual basis)
- Above Rs.1.00 crore: 0.15% p.a. (Max Rs.20000/- p.a. + Cost of visit on actual basis)