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Purpose
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The scheme is aimed to provide finance to Edible Oil Mills/Oil Extraction units. |
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Eligibility |
Profit making existing units, New units, Risk hurdle rate for new/enhancement/takeover as per Loan Policy |
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Nature of facility |
Working Capital/TL/Packing credit/Non Fund Based Limit LC and LG |
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Margin
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Fund Based : 20% Non Fund Based : 10% to 20% (As per value of collateral security coverage) |
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Quantum of Loan |
Maximum RS 100.00 Crore
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Interest
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For Fund Based Working Capital and Term Loan up to Rs 100.00 Lakh :
For ROI for loan above Rs 100.00 Lakh: As per Risk Rating of Borrower and value of Collateral security |
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Repayment
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Working Capital : Maximum period of 12 Months – Annual Renewal Term Loan : Door to Door tenure 7 years. (including moratorium period of Maximum up to 12 months) |
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Security* |
Primary Security : Hypothecation of stocks and receivables and all assets created out on Bank’s fund. Collateral Security : Up to Rs 5.00 Crore : If advance cover under CGTMSE no collateral is required. Above Rs 5.00 Crore : Collateral Security by way of Equitable mortgage of SARFAESI compliant immovable property with realizable value minimum 50% of the limit sanctioned (FB + NFB). |
