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Small & medium enterprises strategic business unit
All the interest rates are linked to Base Rate (floating) which is 9.70% w.e.f. 05.10.2015. Please note that irrespective of the category of the borrower (i.e. micro, small, medium and others) the rate of interest will be as per the limit proposed and credit rating assigned. The applicable rating models are:
| Sr No | Limits (Rs.) | Applicable rating Model Presently in force |
|
|---|---|---|---|
| From | To | ||
| 1 | 1 | < 10 Lakh | No rating |
| 2 | 10 Lakh | < 5 Crore | SBS |
| 3 | 5 Crore | <30 Crore | MS |
| 4 | 30 Crore and above | HLC | |
Please also note importantly that ‘Tenor Premium’ is to be added to the interest rates for all term loans with limits of above Rs.10 lakhs with repayment period exceeding 1 year (door to door).
Regulatory MSME ( As per MSMED Act 2006) will include the followings:
| MSME Definition | |||
|---|---|---|---|
| Criteria : Investment and Annual Turnover | |||
| Classification | Micro | Small | Medium |
| Manufacturing & Services | Investment < Rs 1 crore & Turnover < Rs. 5 crores | Investment < Rs 10 crores & Turnover < Rs. 50 crores | Investment < Rs 50 crores & Turnover < Rs. 250 crores |