DIGI MSME PRIME

Purpose

• To provide hassle free credit digitally to meet working capital requirements related to business activity or for expansion of business.

Eligibility

Type of Facility

• Cash Credit

Loan Amount

• Rs. 10.00 Lakh to Rs.10.00 crore.

Loan Assessment

• 25% of GST Sales subject to the condition that minimum 75% of the sales is routed through the account.
• If the above condition is not fulfilled, then the limit will be restricted to 25% of GST Sales or Credit summation whichever is less.

Benchmark Ratio

• Not applicable; financial statements not required.

Tenure

• 1 year, renewable annually.

Security

• CSTMSE Guarantee
• OR
• Minimum 75% Collateral security in the shape of SARFAESI compliant immovable property or Bank approved liquid security.

Interest Rate

• Concessional rate linked to RLLR.

Unified Fee (including Processing/ Document/ Inspection)

• 0.30% of Loan Amount + applicable GST.

Non-Credit related Service Charges

• RTGS, NEFT, IMPS charges waived. All other charges shall be recovered as per Bank guidelines.