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Home >> Loan >> Retail Schemes >> Oriental Uttam Vyapari Scheme(Loan to Trader)
Oriental Uttam Vyapari Scheme(Loan to Trader)

ORIENTAL UTTAM VYAPARI SCHEME

Purpose

a) For Working Capital requirements:

               To meet day-to-day working requirement.

b) For Term Loan:

  • Acquiring premises/land & constructions on ownership basis required for running the business /financing of charges pertaining to conversion from lease hold to free hold of business premises.
  • For repair, furnishing, renovating existing business premises and/or purchase of furniture & fixtures.
  • For purchase of brand new equipments, business tools, computers, UPS, software etc.

Eligibility

Criteria

1.     Traders/ Business concerns having Registration/ License, if applicable under local laws (i.e. Shops & Establishments Act)/ appropriate authorities.

2.     Existing units should be a profit making one.

3.     Applicant should have been in business for 1 year.

4.  New units may be allowed to avail the facility subject to compliance of security clause and other terms of scheme.

 Loan  Limit

The maximum composite loan Rs 100 Lacs subject to following ceiling.

 

Category

Amount in lacs

Metro

100.00

Urban

100.00

Semi-Urban

50.00

Rural

50.00

1. The Working capital facility shall be allowed based on 20% of realistic projected sales turnover and the inventory level depending upon the nature of business.

Condition: Minimum margin of 5% of turnover shall be brought in by the borrowers

2. The facility can be allowed in the shape of working capital or Term Loan or both subject to maximum ceiling amount.

Margin

  •  20% on stocks (working capital)
  •  40% on Book Debts not older than 6 months.
  • 25% on purchase of shops/ Office premises, equipments etc.

Rate of Interest (floating)

Click here to view rate of interest.

 

In case of delayed payment, penalty of 2% on the overdue amount for the overdue period shall be charged.

Process fee

Click here to view Process Fee.

Security

A)  Cash credit / Term loan upto Rs 10.00 Lacs(to be covered under Pradhan Mantri Mudra Yojana-PMMY)

1.     Hypothecation of assets purchased out of loan amount.

2.     Collateral security exempted upto Rs 10.00 Lacs

 

CGTMSE/MUDRA coverage shall be obtained in all eligible cases

(B)  No collateral security is required where advance is covered under CGTMSE Scheme.

1. Cash Credit/Term Loan above Rs 10.00 Lacs and upto 25 lacs

Collateral security in shape of NSCs, FDR, CDR, LIC (SV) or any other tangible security with realizable value at least equivalent to 50% of total exposure along with one personal guarantee of adequate net worth acceptable to the Bank. (Where there is no CGTMSE Coverage)

OR

Equitable mortgage of immovable property having realizable value at least equivalent to 100% of the total exposure.

 

2. Cash Credit/Term Loan above Rs 25.00 Lacs

Equitable mortgage of immovable property having realizable value at least equivalent to 100% of the total exposure.

Guarantee of owner of property shall be obtained invariably, in case of collateral security standing in the name of third party.

Repayment

  • Term Loan: 3 to 10 years inclusive of maximum moratorium period of 6 months, if required.
  • Working Capital Limit shall be renewed every year.

Prepayment Penalty

0.50% of outstanding balance shall be levied in case of shifting the account to other Bank

 

* For further details please contact the nearby branch or call at  1800-180-1235 & 0124-2340940