||Indian Overseas Bank
||IOB MSE PLUS
||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.
||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
|Composite /loan Limit
- For construction or outright purchase of work shed / factory premises ….. ….. 30%
- For purchase of plant / machinery/ equipments, etc., 15 %
- For working capital ….. ….. 20 %