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.

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.10.00 crore

Margin

25% of paid stock & receivables

Rate of Interest

Security

Primary: Hypothecation of Inventory & Receivables

Guarantee:

• No third party guarantee or collateral security, if the advance is covered under CGTMSE.

Processing Fees

As per extant guidelines