Over Draft | Kerala Grameena Bank

Attractive Interest Rates

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Business OverDraft

Business OverDraft - Over Draft Facility allows you that extra spending power which can come very handy in business.

Micro, Small and Medium Enterprises (MSMEs) is the backbone of economic growth. Kerala Grameena Bank provides loans to cater various business needs under MSME segment

Purpose

Working capital finance for Traders.
Working capital finance for manufactures.
Working capital finance for Service providers

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Eligibility

Borrowers can be Individuals, proprietary, partnership concerns, SHGs, Companies, Trusts in MSME segment (service units) engaged in contractor/sub-contractor activity and falling within the meaning of Micro, Small & Medium Enterprises as defined in MSMED Act, 2006
Borrower should have satisfactory dealings with the Bank
For new units, size and turnover will be considered in order to estimate the eligible limit.

Limit

Minimum loan amount is Rs. 1 lakh
Eligible limit is sanctioned on the basis of Working Capital requirement, upto 20 % of turn over.
For new units, loan limit will be 80% of the working capital arrived under Operating Cycle Method.

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Margin

A margin of 5% needs to be invested by the borrower.
For new units, margin will be 20% of the working capital arrived under Operating Cycle Method.

Security

Up to Rs.1 lakh

Hypothecation of assets
Coobligation of a worthy person.

Above Rs.1 lakh

Hypothecation of assets.
Collateral security of Immovableproperty .
The value of Collateral security should not be less than 150% of the working capital limit.

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