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 Rs.10.00 lakh; Maximum Rs.3.00 crore |
Margin | 25% of paid stock & receivables |
Rate of Interest | Advances up to Rs.25.00 lakh | RLLR+0.75%+BSS(0.50%) . | | Advances above Rs.25.00 lakh and upto Rs.3.00 crore | CRR | Applicable Rate of Interest | AAA | RLLR+0.75%+BSS(0.50%) | AA | RLLR+1.00%+BSS(0.50%) | A | RLLR+1.30%+BSS(0.50%) | BBB | RLLR+1.50%+BSS(0.50%) |
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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 |