Eligibility

• "IOB Mahila Samriddhi" is tailored scheme specifically to meet the needs ofGenNext 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. 10 Lacs and Maximum - Rs. 10 crore.

Security/CGTMSE cover

The loan will be secured by CGTMSE up to Rs 5.00 crore and more than Rs 5.00 crore by hybrid collateral coverage scheme. 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.

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.