• Skip to main content
  • Accessibility Dropdown
  • Sitemap
Indian Overseas Bank

IOB RICE MILLS PLUS Scheme / IOB SME MAHILA PLUS SCHEME

Bank Indian Overseas Bank
Scheme IOB RICE MILLS PLUS Scheme / IOB SME MAHILA PLUS SCHEME
Description
  • To set up a factory/business premises either manufacturing or service enterprise qualifying under Micro or Small enterprises.
  • To upgrade the existing unit and purchase of equipments, Machineries , Computers etc.
  • Fresh or additional working capital limits
Eligibility
  •  Qualified women(minimum graduate ) who desire to start a unit in the age group of 21 to 50.Women with technical qualification will be given preference. Women professionals in any field can also avail credit under the scheme.
  •  Either a Proprietorship Concern or a partnership with women in the lead
  •  Private Limited companies with woman as the Managing director/or a Director in a key position
  •  Existing units fully managed by a woman entrepreneur are also eligible under the scheme
Rate of Interest & Repayment
  • Base Rate +1.25 % for working capital (Current Base Rate is 10.50 % and applicable rate is 11.75 %)
  • Base Rate + 1.50 % for Term Loams for construction of factory / business premises (applicable rate is 12.00%)
  • Base Rate + 1.75 % for purchase of Machineries / Equipments
  • Repayment:
  • Cash credit : To be renewed annually and Interest to be serviced on monthly basis
  • Term Loan : 10 years for term loan for construction of factory/business premises
  • 7 years in Equal Monthly Instalments in case of Machineries
  • Moratorium period of 12 months for establishing a new manufacturing unit and in all other cases moratorium of 3 months is applicable.
  • Interest to be serviced as and when debited including holiday period.
  • Repayment to commence from the month of commencement of commercial operation.
Collateral
  • No collateral security or third party guarantee upto Rs.100 Lacs.
  •  All loans upto Rs.100 Lacs to be covered under CGTMSE Guarantee scheme.
  • Collateral security may be taken for loans above Rs.100 Lacs Collateral security to cover at least 50 % of the credit facility if the loan granted is above Rs 100 lacs
Composite /loan Limit
  • Composite loan upto Rs 2 crores for a Manufacturing enterprise
  • Composite loan upto Rs 1 crore for a Service enterprise
Margin As per extant guidelines for lending to MSE sector.
Detail Link View Link
Indian Overseas Bank

IOB CA SCHEME

Bank Indian Overseas Bank
Scheme IOB CA SCHEME
Description
  • To purchase car
  • To construct office premises
  • To acquire ready built office premises (partial or fully constructed)
  • To cover cost of land and construction
  • To purchase furniture & fixture, fittings and office equipments, computers, Books and other accessories, etc.,
  • Towards working capital and financing receivables
Eligibility
  • Chartered Accountants (individual or joint)
  • Proprietorship Concern
  • Partnership Firm
  • Partnership with limited liability
  • In case of Firms all partners are treated as co-applicants
Rate of Interest & Repayment As applicable to MSME Sector; Rate of interest linked to Base Rate; Rate of interest is subject to review at periodical intervals

Repayment:

Maximum of 10 years by EMI (including Moratorium period)

Repayment to commence from the date of commercial operation or after completion of initial repayment holiday whichever is earlier

Interest to be serviced as and when debited

Collateral
  • No collateral security upto Rs.10 lacs
  • All loans upto Rs.10 lacs to be covered under CGTMSE Guarantee Scheme
  • Collateral security may be obtained for loans above Rs. 10 lacs, if not covered under CGTMSE guarantee scheme. However, in deserving cases, branches may consider the loans upto Rs.100 lacs with CGTMSE cover.
Composite /loan Limit Varies from Rs.10 lacs to Rs.125 lacs depending on the category
Margin
Detail Link View Link
Indian Overseas Bank

IOB MSE PLUS

Bank Indian Overseas Bank
Scheme IOB MSE PLUS
Description IOB MSE PLUS is a novel scheme introduced by IOB for the benefit of Micro and Small Enterprises (MSEs). Under the scheme, MSEs can avail both their working capital and long term investments needs in the form of a single term loan in a hassle free manner and repay the entire loan (including working capital) over a period of time.
Eligibility Both manufacturing and service enterprises coming under Micro and Small Enterprises category as per MSME Act 2006.
Rate of Interest & Repayment As applicable to Micro and Small Enterprises Rate of interest linked to base rate Present Interest are as under:

  • Upto Rs. 2 lacs … … … 9.75 % + 1.50 = 11.25
  • Rs. 2 lacs and upto Rs. 25 lacs … 10.75 % + 1.50 = 12.25
  • Rs.25 lacs and upto Rs. 100 lacs … 11.25 %+ 1.50 = 12.75
Collateral Nil
Composite /loan Limit
Margin
  • For construction or outright purchase of work shed / factory premises ….. ….. 30%
  • For purchase of plant / machinery/ equipments, etc., 15 %
  • For working capital ….. ….. 20 %
Detail Link View Link
Indian Overseas Bank

IOB ENGINEER SCHEME

Bank Indian Overseas Bank
Scheme IOB ENGINEER SCHEME
Description TO CONSTRUCT OFFICE PREMISES

TO PURCHASE FURNITURE & FIXURE, FITTINGS & OFFICE EQUIPMENTS SUCH AS COMPUTERS,PRINTERS,PLOTTERS,BOOKS & OTHER ACCESSORIES ,ETC.

To Purchase Centering sheets, Spans, props, Column box etc.,

To purchase Constructional Machineries like J.C.P Rollers, Vibrators, Mixer Machines, drillers, earth Rammers, Other equipments, etc.,

Eligibility Civil Engineers ((Individuals upto 65 yrs of age)

Proprietorship Concern.

Partnership Firm.

Partnership with Limited Liability.

Rate of Interest & Repayment Interest Rate : As per extant guidelines.

A reduction of 0.50 % on the applicable rate if collateral coverage is 100% or above.

 

REPAYMENT :

Cash credit : To be renewed annually and Interest to be serviced on monthly basis.

Term Loan : Maximum of 7 years in Equated Monthly Instalments Including moratorium period of 3 months.

Initial Moratorium upto 12 to 18 months in case of Financing construction activity only.

Interest to be serviced as and when debited including holiday period.

Repayment to commence from the date of commencement of Commercial Operation.

Collateral
  • No collatteral security upto Rs.10 Lacs.
  • All loans upto Rs.10 Lacs to be covered under CGTMSE Guarantee scheme.
  • Collateral security may be obtained for loans above Rs.10 Lacs, if not covered under CGTMSE guarantee scheme. However in deserving cases, branches may consider the loans upto Rs.100 lacs with CGTMSE cover.
Composite /loan Limit
Margin
Detail Link View Link
Indian Overseas Bank

IOB MICRO ONE

Bank Indian Overseas Bank
Scheme IOB MICRO ONE
Description
Eligibility MICRO ENTERPRISES falling under the norms as below:

(only new connections under Micro Sector and the scheme is not applicable to existing borrower clients)

Manufacturing : Original investment in Plant and machinery upto Rs.25.00 lacs

Service Enterprises: Original investment in Equipments upto Rs.10.00 lacs

Rate of Interest & Repayment Both for Working Capital and Term Loan Base Rate + 1.75%

Repayment: 84 EMIs for Term Loan (for combined facility as well)

Cash Credit to be renewed annually

Collateral Only prime security created out of this loan (NO COLLATERAL OR THIRD PARTY GUARANTEE TO BE OBTAINED)
Composite /loan Limit Maximum Rs.50.00 lacs (Cash Credit + Term Loan with a ceiling of Rs.22.50 lacs for Term Loan) Can be granted separately or as a combined credit facility
Margin 10% for working Capital against stocks and 15 % against Book debts.
Detail Link View Link
en_USEnglish