India
France
HongKong
Japan
Kenya
New Zealand
Singapore
USA
Tanzania
UK
Uganda
Vietnam
Antwerp
Dubai
IBU GIFT CITY
Indonesia
Accounts
Cards
Loans
Deposit
Accounts
MSME
Corporate
Merchant Acquiring Business
Authorised Branches/ Centralised Office
Export Finance
Investments
FX-Retail
Special Rupee Vostro Account
Govt. Product
Mutual Fund
Insurance
Accounts
Loans
Invest with us
Insure with us
Remit Money
Ancillary Services
Forms and FAQs
KYC - updation
Agri Products
Financial Inclusion
Ancillary Services
BOI
Purpose of Finance
To provide guarantee coverage for the CGSSD to provide Sub-Debt support in respect of restructuring of MSMEs. 90% guarantee coverage would come from scheme/ Trust and remaining 10% from the concerned promoter(s).
Objective
To facilitate loans through Banks to the promoters of stressed MSMEs for infusion as equity / quasi equity in the business eligible for restructuring as per RBI Guidelines.
Quantum of loan
Promoter(s) of the MSME unit will be given credit equal to 15 % of his/her stake (equity plus debt) or Rs 75 lakh whichever is lower.
Nature of Facility
Personal Loan: Term Loan to be provided to the promoters of Stressed MSME accounts.
Security
The sub-debt facility so sanctioned by MLIs will have 2nd charge of the assets financed under existing facilities for the entire tenor of the sub-debt facility.
BOI
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
BOI
Eligible Borrowers
- The Scheme is applicable for those MSMEs whose accounts have been standard as on 31.03.2018 and have been in regular operations, either as standard accounts, or as NPA accounts during financial year 2018-19 and financial year 2019-20.
- Fraud/ Wilful defaulter accounts will not be considered under the proposed scheme.
- Personal loan will be provided to the promoters of the MSME units. The MSME itself may be Proprietorship, Partnership, Private Limited Company or registered company etc.
- The Scheme is valid for MSME units which are stressed, viz. SMA-2 and NPA accounts as on 30.04.2020 who are eligible for restructuring as per RBI guidelines on the books of the Lending institutions.
Margin
The promoters are required to bring in 10% of the Sub Debt amount as margin money/Collateral.
BOI
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
BOI
Interest Rate
2.50% over RBLR
Repayment Period
- The tenor of sub-debt facility provided under CGSSD shall be as per the repayment schedule defined by the lender, subject to a maximum tenor of 10 years from the guarantee availment date or March 31, 2021 whichever is earlier.
- The maximum tenor for repayment will be 10 years. There will be a moratorium of 7 years (maximum) on the payment of principal. Till the 7th year, only interest will be paid.
- While the interest on the sub-debt under the scheme would be required to be serviced regularly (monthly), the principal shall be repaid within a maximum of 3 years after completion of moratorium.
- Pre-payment of loan is permitted at no additional charge /penalty to the borrower.
Guarantee Coverage
90% guarantee coverage would come from scheme/ Trust and remaining 10% from concerned promoter(s) on the credit extended by MLIs under the scheme. The guarantee cover would be uncapped, unconditional and irrevocable credit guarantee.
Guarantee Fee
1.50% per annum on the guaranteed amount on outstanding basis. Guarantee fee may be borne by the borrowers as per the arrangements between the borrower and the MLIs.
Processing fees
Waived However, Other related charges will apply.
BOI
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
BOI
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
BOI
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
PRODUCTS YOU MAY LIKE
PM VISHWAKARMA
Collateral free ‘Enterprise Development Loans’ to artisans and craftspeople upto Rs.3 lakh in two tranches, at a concessional rate of interest fixed at 5%, with Government of India subvention to the extent of 8%.
Learn More
PMMY/Pradhan Mantri Mudra Yojana
For setting up of new/upgrading existing Micro business enterprises in the manufacturing, processing, trading and service sector and carrying out activities allied to agriculture, financing to weavers and artisans (income generating activity).
Learn More
PMEGP
The scheme is implemented by Khadi and Village Industries Commission (KVIC) functioning as the nodal agency at the national level
Learn More
SCLCSS
This scheme is applicable for SC/ST Micro and Small Units for the purchase of plant & machinery and equipment for term loan from the prime lending institution.
Learn More
Star Weaver Mudra Scheme
The Handloom Scheme aims at providing adequate and timely assistance from the Bank to the weavers to meet their credit requirement i.e. for investment needs as well as for working capital in a flexible and cost effective manner. The Scheme will be implemented both in rural and urban areas.
Learn More
