|Union Bank of India
|Union Turnover Plus
|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.
|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
|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