Eligibility

• "IOB Mahila Samriddhi" is tailored scheme specifically to meet the needs of GenNext women entrepreneurs.

• New/Existing Micro & Small Units having Sole Banking arrangement with our Bank.

• Proprietorship firm, Partnership Firms, Limited Liability Partnership firm and Private Ltd. companies are eligible, only if, majority of the partners/directors are women with share capital of min 51% with women.

• The account should not be under SMA1 and SMA 2 category in last 12 months.

• In case of new borrowers, the CIBIL/ CRIF High Mark Score of all promoters should be 700 and above.

Purpose

• Purchase of machineries, construction, repair, upgradation, Fresh & additional working capital in form of LC/LG, WCTL.

Loan Amount

• Minimum - Above Rs. 20 Lacs
• Maximum - Rs. 10 Crore

Security/CGTMSE Cover

The loan will be secured by CGTMSE up to Rs. 10.00 crore. Premium for the coverage shall be borne by the borrower.

Margin

• Minimum margin of 20% on stocks & 25% on Book Debts

• 20% of the invoice value for purchase of Equipment's, Plant & Machinery, construct work shed/ factory premise & Vehicles etc.

Rate of Interest

As per circular in force based on Internal/external rating of the account.

Concession of 0.50% in the applicable interest rate is offered under the scheme.

Repayment Period

• Maximum period of 84 months including holiday period up to 12 months.

Processing Charges/Upfront Fee

• Loans up to Rs. 50 Lakhs - Nil

• Above Rs. 50 Lakhs - Applicable Processing Charges/ Upfront fee as per service charges circular in force.

Other Condition

• Udyam Registration Number is mandatory for all MSE units.

• Separate additional Term Loan (3% of original Term Loan) shall be sanctioned on borrower's request to pay year-on-year CGTMSE fee for the first 3 years. This loan is to be repaid in 36 EMI without any holiday period.