SME Smart Line of Credit By IDBI Bank SME Smart Line of Credit

Availability of timely and adequate credit has always been a matter of concern for the MSME Sector. MSMEs stand to lose out on emerging business opportunities, due to lack of want of access to credit, when needed. Keeping that in view, IDBI Bank has introduced this Product in which financial assistance pre-approved composite loan is offered to the MSMEs. 

The product details are as mentioned below: 
 

Sr. No.

Field

Content

1

Eligible Segments

All MSME clients as defined by MSMED Act, 2006

2

Facility

Composite loan with the following components 
Term Loan 
Working Capital (Fund Based and Non-fund Based)

3

Loan Amount

Maximum :  Rs. 500 lakh for corporate borrowers
Maximum : Rs. 250 lakh non-corporate borrowers

4

Purpose of Advance

Term Loan: For capital expenditure, modernization, expansion, retiring of high-cost debt
Working Capital: To meet working capital requirement

5

Tenor

Term Loan: Max 5 years
Cash Credit: Max 12 months

6

Pricing

Linked to Bank Base Rate and Rating

7

Security

Primary:  Hypothecation of assets/ Financed stock/Book Debts 
Collateral Security: In the form of immovable property such as residential /commercial, or other liquid security

8

Guarantee

Personal Guarantee of the borrowers/promoters to be obtained.

9

Margin

Depending upon the nature of the facilities

10

Processing Charges

Upto 1%

About

IDBI Bank Ltd. is a Universal Bank with its operations driven by a cutting edge core Banking IT platform. The Bank offers personalized banking and financial solutions to its clients in the retail and corporate banking arena through its large network of Branches and ATMs, spread across length and breadth of India. We have also set up an overseas branch at Dubai and have plans to open representative offices in various other parts of the Globe, for encashing emerging global opportunities. Our experience of financial markets will help us to effectively cope with challenges and capitalize on the emerging opportunities by participating effectively in our country’s growth process.

IDBI Bank is the youngest, new generation, public sector universal bank that rides on a cutting edge core banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients. The Bank had an aggregate Balance sheet size of Rs.3, 28,997 crore and total business of Rs.4,33,460 crore as on March 31, 2014. IDBI Bank's operations during the financial year ended March 31, 2014 resulted in a net profit of Rs. 1121 crore

About

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