IND MSME Gold Secure
IND MSME Gold Secure
| IND MSME Gold Secure | ||||||||
| S.No | Parameter | Norms | ||||||
| 1 | Name of the Product | IND MSME Gold Secure | ||||||
| 2 | Target Group | Individual and Sole Proprietors with valid URC / UAC | ||||||
| 3 | Purpose | Working Capital requirements and Purchase of Assets meant for business | ||||||
| 4 | Nature of Facility | Working Capital: WCDL/ TL with Bullet repayment of 3 / 6 / 12 months
Purchase of Machinery / Equipment/ any other business purpose:
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| 5 | Eligibility | Existing and New Customers | ||||||
| 6 | Quantum of Limit | Minimum Loan Amount: ₹10,000
Maximum Loan Amount: ₹50.00 Lakhs per customer.
Loans against gold collateral exceeding ₹25 lakhs per customer can be sanctioned only by the Zonal Level Credit Committee (ZLCC) |
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| 7. | Repayment Period
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| 8. | Security | Primary Security: Hypothecation of Stock & Book debts, Assets Created out of the said loan.
Collateral Security: Pledge of Gold. Minimum Collateral coverage ratio (CCR) of 120% to be ensured.
CCR: Market Value of Gold Collateral available / loan Outstanding as on date. (Sanctioned limit on the date of sanction) |
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| 9. | Rate of Interest |
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