CANARA MSME CAP

Bank	Canara Bank
Scheme	CANARA MSME CAP
Description	To provide credit for business requirement of MSME borrowers against the security of unencumbered Land and Building and / or approved financial securities belonging to the unit or promoters of the unit or close relatives of the promoters.
Eligibility	a) Individuals/Partnership firm (other than partnership firms where HUF is a partner)/ company (excluding NBFC)/ Traders/ Businessmen/ professionals or self-employed persons/ proprietary firms. b) Loan against mortgage of Land and Building (Land alone will not be considered) located in Metro, Urban, Semi-Urban, properties located in select rural areas and properties allotted by Govt Authorities/Semi Govt. Authorities, Agencies like Industrial Development Authority, Small Scale Development Authority, Special Economic Zones (SEZs) like Textile Parks etc., irrespective of location & authorized by State/Central Government either leasehold/freehold are also eligible. c) The Scheme shall be applicable for accounts risk rated up to moderate risk only.
Rate of Interest & Repayment	Rate of interest as per prevailing guidelines of the Bank linked to RLLR of the Bank, subject to changes from time to time. Repayment: TL -7 to 10 years inclusive of repayment holiday. WC-Tenable for One year
Collateral	1. Mortgage of immovable properties with value of 100% to 150% of the loan amount depending upon the location. 2. Agricultural Properties should not be taken as security under this scheme. 3. Vacant land shall not be accepted as security. 4. Select Rural properties shall also be accepted as securities subject to conditions. 5. Properties allotted by Govt Authorities/Semi Govt. Authorities, Agencies like Industrial Development Authority, Small Scale Development Authority, Special Economic Zones (SEZs) like Textile Parks etc., irrespective of location & authorized by State/Central Government either leasehold/freehold are also eligible to be considered subject to conditions
Composite /loan Limit	1. Manufacturing Units: Rs.10 Crores. 2. Service Units : Rs.5 Crores. Subject to the Minimum loan amount of Rs.10 lakhs.
Margin	20-25% depending upon type of loan
Detail Link	View Link

CANARA MSME CAP

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