State Bank of Mysore

Trusted Service
New Schemes under SIB Segment
Flexi (SSI) Term Loan
Purpose:
Any Genuine commercial purpose such as shoring of net working capital, capital expenditure, Research & Development expenditure, Loan for acquisition of Land and Building, Upgradation and renovation of offices etc.

Eligible Group:
Micro & Small Enterprises borrowers with a record of cash profit for at least 3 years & whose accounts are classified as Standard assets.

Rate of interest:

As per prevailing rates 

Type of Loan: Term Loan

Amount of Loan & Repayment terms:
Maximum of Rs. 50 lacs

Repayment: Repayable in 3 to 5 years

Security:
Extension of hypothecation over current / fixed assets & also extension of charge over existing collaterals


SME CREDIT PLUS
Purpose:
To meet the contingency needs of Micro & Small Enterprises borrowers

Eligibility:
Micro & Small Enterprises borrowers with a good track record, highest standing and integrity for tales 2 consecutive years
 
Rate of Interest: As applicable to cash credit limits
Type of loan: Clean cash credit

Amount of loan & repayment terms:
20% of aggregate working capital limits subject to a maximum of Rs. 25 lacs.

Each amount of withdrawal is repayable within 2 months with a gap of 15 days from the date of repayment and the next withdrawal.
Security:
Primary: Nil (Limit considered as Clean)
Collateral: Extension of Existing collaterals

GREEN AUTO
Purpose:
A scheme for financing autorickshaw owners for installation of LPG / CNG kits.

Eligibility:
Existing borrowers of commercial vehicles possessing necessary permits. Vehicles financed by other Banks are not eligible. However, borrowers whose accounts are taken over from other Banks are permitted to avail the facility. All accounts considered for finance should be standard assets.

Rate of Interest:
As per prevailing rates

Type of Loan: Term Loan
 
Amount of Loan:
Total cost of kits, subject to a maximum of Rs. 25000.

Repayment Terms:
Term loan is repayable in 36 months in case vehicle is financed by us and 24 months for the accounts taken over from other Banks.
 
Security:
Hypothecation over the vehicle.

SWAROJGAR CREDIT CARD SCHEME:
Purpose:
To provide adequate & timely credit ie., working capital / block capital or both to small artisans, handloom weavers, service sector, fishermen, self-employed persons, rickshaw owners, other micro-entrepreneurs etc., (Swarojgaris) in a flexible, hassle-free & cost-effective manner.

Eligibility:
Swarojgaris like small artisans, handloom weavers, service sector, fishermen, self-employed persons like rickshaw owners, other micro-entrpreneurs etc.,
 
Type of loan: By issue of credit cards to Swarojgaris

Limit:
Rs. 25000/- per borrower as composite loan & branches may consider even higher limits on merits of each case.
 
Validity:
Swarojgar Credit Card is normally valid for 5 years subject to satisfactory operation of the account and annually through simple review process.

MYBANK PROFESSIONAL PLUS
Purpose:
A scheme for financing self-employed Professional (other than Doctors) for setting up of offices, expansion, renovation, modernization of existing offices, buying of equipments, purchase of computers, vehicles etc., including General Purpose Term Loan.

Eligibility:
All self-employed professionals like Chartered Accountants, Engineers, Architects, Lawyers etc., who possess necessary qualification or professional experience needed to pursue the profession are eligible for financial assistance under the scheme.

Rate of Interest:
As per prevailed rates

Type of Loan: Composite Term Loan
 
Amount of Loan:
Minimum amount of Rs. 50000/- & a maximum amount of Rs. 10 lacs
 
Repayment:
Normally 5 to 7 years with a start-up period of 6 months
Security:
1) Primary Security: Hypothecation of all assets acquired out of bank Loan and mortgage of the building financed.
2) Collateral Security: No collateral security upto a limit of Rs.2 lakhs; upto a limit of Rs. 5 lakhs guarantee of a person with sufficient means to be obtained. Tangible collateral security of immovable property or other securities like TDR,NSC, LIC policy with sufficient surrender value as to cover the advance to be insisted for limits above Rs. 5 lacs.
Margin:
Purpose
Rate
For new machinery / equipment
15%
For Building / (commercial Purpose)
30%

ARTISANS CREDIT CARD (ACC)
Purpose:
To provide adequate & timely assistance to artisans to meet their credit requirements (ie., working capital / investment needs) in a flexible hassle free & cost effective manner

Eligibility:
All artisans involved in production / manufacturing process would be eligible
Preference will be given to artisans registered with Development Commissioner (Handicrafts)
Thrust on financing would be on financing of clusters of artisans who have joined the Self Help Groups (SHGs)
Beneficiaries of other Government sponsored loan schemes will not be eligible for coverage under ACC scheme.

Type of Loan: By issue of Credit Cards to artisans

Limit: Maximum of Rs. 2.00 lacs per borrower

Validity Period:
Artisans Credit Card is normally valid for 3 years subject to satisfactory operation of the account and annual review process.
 
Security:
Hypothecation over stocks / assets created out of Bank loan to be taken as primary security. No collateral security upto a limit of Rs. 2.00 lacs
Margin:
Amount
Rate
For limits upto Rs. 25000/-
NIL
For limits above Rs. 25000/-
25%

Rate of Interest:
As per prevailing rates
Insurance:
Beneficiaries under the scheme would be automatically covered under the group. Insurance scheme and the premium would be debited to borrower's account.

STAND-BY-LINE OF CREDIT (T/L) FOR MICRO &SMALL ENTERPRISES AND C&I BORROWERS
Purpose:
To meet any genuine purpose like acquisition of machinery and other capital expenditure of expansion modernization etc.,
 
Eligibility:
Micro & Small Enterprises and C&I borrowers rated SBM-3 & above only.

Rate of Interest:
As applicable to Term Loans under SME segments.

Type of Loan: Term Loan

Amount of Loan:
To the extent of 2 times the cash accruals of the previous year with a maximum limit of Rs. 50 lakhs for SSI units and Rs.200 lakhs for C&I units.

Repayment Terms:
3 to 5 years in monthly / quarterly instalments as per cash generation cycle.

Security:
1) Primary Security: Hypothecation of all assets acquired out of Bank Loan
2) Collateral Security: As decided by the sanctioning authority

Margin: As Applicable to term Loans

REIMBURSEMENT FACILITY UNDER TERM LOANS: (SIB AND C&I SEGMENT BORROWERS)
Purpose:
Scheme to provide reimbursement facility towards capital expenditure incurred within a period of one year (excluding Transport Operators)

Eligibility:
Existing MSE and C&I borrowers

Rate of Interest:
As applicable to Term Loans under MSE and C&I segments.

Type of Loan: Term Loan

Security:
1) Primary Security: Hypothecation of capital assets created
2) Collateral Security: As decided by the sanctioning authority

Margin: As Applicable to term Loans

Other Terms & conditions:
1) Original bill and receipt issued by the manufacturer / dealer
2) Chartered Accountant's certificate regarding expenditure incurred for fabrication / construction

"SOORYADEEPA": SCHEME FOR FINANCING SOLAR HOMELIGHTING SYSTEM
Purpose:
Scheme to provide credit facility for purchase of Solar Home Lighting System
Capacity
Approximate Value
18 watts
Rs. 9000/-
37 watts
Rs. 16000/- to Rs. 18000/-
74 watts
Rs. 26000/- to Rs. 28000/-

Eligibility:
MSE and AGR segment borrowers; Income of Rs. 30000/- per annum

Rate of Interest: aS PER PREVAILING RATES

Type of Loan: Term Loan

Security:
1) Primary Security: Hypothecation of capital assets created
2) Collateral Security: Suitable guarantor good for the amount

Margin: 10%

Repayment: Repayable in 60 months

Gestation Period: 2 months

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Channel financing to ACC Cement Dealers
Eligibility:
MSE and AGR segment borrowers; Income of Rs. 30000/- per annum

Quantum of Finance: Maximum of rs. 10 lacs. Credit limits above Rs. 10 lacs to be considered as per norms prescribed under C&I segment

Purpose:

To make immediate payment of invoice / bill raised by ACC, on its receipt, representing supply of cement as per the orders placed by the dealer. The payment will be effected to the debit of dealers cash credit account. The amount so debited should be liquidated by the dealer within 21 days from the date of debit.

Security: Nil

Rate of Interest: As per prevailing rates
On Default: In the event of deler failing to liquidate the amount debited within the due date, the branch will immediately advise the ACC company to blacklist the dealer with stoppage of further supply of cement while operation in the account is frozen. Further operations / releases to be permitted only on the specific recommendation by the company. However, the facility to be withdrawn in case of default occurs for the second time.

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Contact your nearest Branch of State Bank of Mysore or
Chief Manager
State Bank of Mysore
Small and Medium Enterprises Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901extn.377
Fax: 91 80 22353458
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
 
You are here: Home Advances Micro and Small Enterprises (MSEs) Stree Shakthi package for Women entrepreneurs

State Bank of Mysore,
H .O.: K.G.Road,
Bangalore - 560254, INDIA.
Phone (EPABX): 91 80 22353901 (30 lines of PRI)
Fax: 91 80 22283684

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 Application Form