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Contractors OD

Over Draft Facility for contractors

Micro, Small and Medium Enterprises (MSMEs) is the backbone of economic growth. Kerala Gramin Bank provides loans to cater various business needs of Contractors / Sub- Contractors under MSME segment.

Purpose Eligibility Limit & Margin Security Repayment Interest Rates & Charges

Purpose

  • To provide working Capital Finance for Civil, Mining and Construction Contractors and sub-contractors.
  • To provide Working capital, both Fund Based and Non - Fund Based in form of running limit for working capital needs.
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Eligibility

  • Borrowers can be Individuals, proprietary, partnership concerns, SHGs, Companies, Trusts in MSME segment (service units) engaged in contractor/sub- contractor activity and falling within the meaning of Micro, Small & Medium Enterprises as defined in MSMED Act, 2006
  • Borrower Should be Creditworthy and should have satisfactory dealings with the Bank
  • For new units, the market reputation of promoter should be satisfactory and he/she must be able to produce valid proof of business and size of turnover,in order to estimate the eligible limit
  • The party must agree for the periodical inspection of the books of accounts maintained by him, by the branch officials and / or by the inspecting officials of the Bank as and when required.
Apply Now

Limit & Margin

    Limit

  • Loans will be considered for Rs.10 lakh and upto a Maximum of Rs. 3 Crores.
  • Need based finance on credit assessment or nine times of the Tangible Net worth (TNW) whichever is lower

    • Margin

  • A margin of 10% needs to be invested by the borrower.
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Security

  • Needs to be backed by Collateral security of Immovableproperty
  • The value of Collateral security should not be less than 150% of the working capital limit.
Apply Now

Repayment

  • Working capital loans are tenable for 24 months subjected to annual Review.
Apply Now

Interest Rates & Charges

  • Please visit Loan interest rates page for details.
  • Please visit Service charges page for more details.
Apply Now Loan Interest Rates Service Charges
  • To provide working Capital Finance for Civil, Mining and Construction Contractors and sub-contractors.
  • To provide Working capital, both Fund Based and Non - Fund Based in form of running limit for working capital needs.
Apply Now
  • Borrowers can be Individuals, proprietary, partnership concerns, SHGs, Companies, Trusts in MSME segment (service units) engaged in contractor/sub- contractor activity and falling within the meaning of Micro, Small & Medium Enterprises as defined in MSMED Act, 2006
  • Borrower Should be Creditworthy and should have satisfactory dealings with the Bank
  • For new units, the market reputation of promoter should be satisfactory and he/she must be able to produce valid proof of business and size of turnover,in order to estimate the eligible limit
  • The party must agree for the periodical inspection of the books of accounts maintained by him, by the branch officials and / or by the inspecting officials of the Bank as and when required.
Apply Now

    Limit

  • Loans will be considered for Rs.10 lakh and upto a Maximum of Rs. 3 Crores.
  • Need based finance on credit assessment or nine times of the Tangible Net worth (TNW) whichever is lower

    • Margin

  • A margin of 10% needs to be invested by the borrower.
Apply Now
  • Needs to be backed by Collateral security of Immovableproperty
  • The value of Collateral security should not be less than 150% of the working capital limit.
Apply Now
  • Working capital loans are tenable for 24 months subjected to annual Review.
Apply Now
  • Please visit Loan interest rates page for details.
  • Please visit Service charges page for more details.
Apply Now Loan Interest Rates Service Charges

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