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New UNNATI scheme for finance to Manufacturers, traders, service providers and professionals upto Rs.50 lakh

                                 Unnati Scheme

Saraswat Bank introduces a scheme for Professionals and Small Business Enterprise which takes care of their financial requirements. The facilities and features being offered are enumerated below ,you may contact our nearest branch and apply:

 

The features are:

 

Professionals

Small Businessman

(Services)

Retail Traders

Small Businessman

Manufacturing

Amount

Max. Rs.50 lacs

Max. Rs.25 lacs

Max. Rs.25 lacs

Max. Rs.50 lacs

Basis

Working Capital : 20% of turnover

Term Loan : 3 times of net cash accruals or 80% of cost of the asset to be purchased whichever is less.

ROI

PLR – 2.75% i.e. 11.50%.

0.10% concession for woman entrepreneur

Repayment

Max. 7 years

Max. moratorium period 1 year.

Security

Primary security : Fixed assets like shop, furniture, etc.Charge on Current assets for working capital 

Collateral security:

Term loan for acquiring office/shop premises – Nil

Term Loan for acquiring other assets and/ or Working Capital limit –

Upto Rs.10 lacs Nil

Above Rs.10 lacs Upto Rs.25 lacs 25% of the advance amount

Above Rs.25lacs 50% of the advance amount.

Guarantors

Not insisted.

Shareholding

2.5% of facilities sanctioned , max. Rs.25,000.

Processing fees

Upto Rs.10 lacs Rs.5,000.

Upto Rs. 25 lacs Rs. 7,000.

Above Rs. 25lacs Rs.10,000 exclusive of applicable taxes.

 

 

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Saraswat-Bank
Saraswat-Bank