Union Turnover Plus

Bank	Union Bank of India
Scheme	Union Turnover Plus
Description	To meet need based working capital (Fund Based) requirement of MSEs, which are adopting Digital Channels for business transactions, on the basis of Projected Sales Turnover acceptable to the Bank.
Eligibility	All Micro and Small Enterprises (MSE) engaged in manufacturing activity or service activity or trading activity irrespective of constitution will be eligible under the scheme. The Unit to avail loan under Sole Banking Arrangement (excluding retail loans) and entire sales turnover is to be routed through Cash Credit (Working Capital) Account. Digital portion to be maintained at minimum 25% of the projected Sales Turnover routed through Bank Books during the sanction period.
Rate of Interest & Repayment	As per extant interest rate guidelines for Micro and Small Enterprises. However, concession of 0.50% over applicable rate of interest subject to minimum appropriate MCLR to MSEs having digitized sales turnover of above 50%. Repayment: On demand. To be renewed every 12 months as per extant guidelines
Collateral	Wherever, the account could not be covered under any Credit Guarantee Scheme, collateral security coverage of minimum 60% of total credit facility is to be obtained.
Composite /loan Limit	Maximum upto Rs.5.00crore
Margin	· 20%
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