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State Bank of Mysore has designed
schemes for traders to meet their working capital needs
Under C&I segment only
Coverage- Metropolitan,Urban and Semi-Urban branches
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A maximum amount of Rs.50 Lacs
is extended by way of Cash Credit facility, with margin ranging
between 25 % and 35% |
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Limit is fixed at 15% of the projected
turnover as per the sales tax returns/assessment orders for
one full year. |
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For limits Rs.25 Lacs & above audited
financial statements are to be submitted |
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Annual interest liability should not exceed
50% of gross profit |
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Rate of interest |
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Amount
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Rate
of Interest
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| Upto
Rs. 25.00 lacs |
14.75
% (1.5% above SBMPLR, ie. 1.5 +13.25 =14.75%)
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| Above
Rs. 25.00 lacs |
as
per CRA Rating 14.75% (14.00% to 15.25%) |
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Limit is available for a period of 12 months,
renewable annually. |
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The hypothecated stocks and other securities
offered are to be insured comprehensively. |
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Stock statements / book-debts statements
to be furnished annually as on 31st March every year. |
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Personal guarantee of the promoters / partners
/ directors of the company. |
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Immovable property to be mortgaged to the
bank. Third party guarantee is also accepted.
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A maximum amount of Rs.50 Lacs
is extended by way of Cash Credit facility, with margin ranging
between 25 % and 35%. |
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65% of realisable value of property mortgaged.
Valuation report not more than three months old. Types of
properties that can be mortgaged are restricted. |
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For limits Rs.25 Lacs & above audited
financial statements are to be submitted. |
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Annual interest liability should not exceed
50% of gross profit. |
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Rate of interest |
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Amount
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Rate
of Interest
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| Upto
Rs. 25.00 lacs |
12.25
% (1%
beloew SBMPLR, ie. 13.25 - 1=12.25%) irrespective of
amount. |
| Above
Rs. 25.00 lacs |
as
per CRA Rating (14% to 15.25%) |
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Limit is available for a period of 12 months,
renewable annually. |
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The hypothecated stocks and other securities
offered are to be insured comprehensively |
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Stock statements / book-debts statements
to be furnished annually as on 31st March every year |
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Personal guarantee of the promoters / partners
/ directors of the company |
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Immovable property to be mortgaged to the
bank. Third party guarantee is also accepted
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Coverage: Metropolitan, Urban &
Semi-Urban Branches |
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Term Loan |
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Minimum of Rs.2 Lacs and maximum of Rs.25
Lacs |
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- Holding stocks / Receivables
- Acquisition of land and buildings for establishing trading
house
- Building construction & renovation of offices, showrooms,
godowns, etc
- Purchase of equipment, furniture & vehicles
- Augmenting networking capital
- Payment of long term deposits / advances to supplier
- General trade purposes
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- Applicants should be engaged in trade, services activities,
and have rating of SBM 1 to 4 under Credit Risk Assessment
System
- Earned pre-tax profits in the immediately preceding
3 years
- Sales tax registration & relevant business license
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Repayable between 3 to 5 years |
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Upto 75% of the project cost |
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SBM Prime Lending Rate plus spread
as per Credit Risk Assessment System. Between 14.25 % &
15.50% w.e.f.10.04.2007 |
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Hypothecation of current assets/Equitable
Mortgage of Immovable property |
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Comprehensive insurance of all securities
Audited Financial Statements must for limits above Rs.25
lacs
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The Short Term Corporate Loan
is essentially in the form of Term Loan
for corporates for certain specific purposes with maturity
not exceeding three years |
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Any genuine commercial purpose in line
with the regular business activity of the customer. |
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- Corporates/industrial undertakings in the C&I segment,
which enjoy a good credit rating(internal) of B+ or better
- Corporates/industrial undertaking, in the SSI sector,
which enjoy “excellent” credit rating, which have
earned profits in the last three years and which have
proven track
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Not more than 3 years. Instalments
may be monthly/quarterly/ half yearly and may be equated
or otherwise depending on the assessed income generating
capacity
of the borrowing undertaking or bullet repayments
if the cash accruals so justify. |
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Interest applicable to one step higher
than the applicable risk rating. |
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- Where feasible, a first and sole charge on
the fixed assets of the undertaking OR a first charge
on fixed assets on pari passu basis with other term
lending institutions to be obtained. Where first
charge cannot be taken, for valid reasons a
second charge on fixed assets to be taken
- Personal guarantee of promoter-director
- Possibility of obtaining charge on unencumbered
assets if any, to be explored,
- Where the purpose of Short Term Corporate Loan is to
shore up NWC, extension of charge on
current assets to be obtained.
- Wherever possible, endeavours to be made to obtain
pledge of equity shares of prmoters.
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As a part of 90th year celbrations, we have
introuduced a new product- |
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Current Account Plus |
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Rs.1,00,000/- |
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Existing account holders /
new
customers across all segments other than borrowers |
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(a)Issue of 30 DDs cumulative value not
exceeding Rs.25 lacs per month free of charges./- |
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(b)Collection of 30 outstation cheques
per month with a cumulative value of Rs.10 lacs, free of
collection
charges. (This facility is only for the account holder’s
instruments and not for third party cheques) . Handling
charges of Rs.20/-
per instrument to be collected |
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c) SBI Life policy
of Rs.
1 lakh coverage. In the unfortunate event of death, SBI
Life would pay the assured to the nominee.
In the event of the death due to an accident , SBI Life
would pay the Nominee double the sum assured. Free of cost,
for individuals/proprietor of Proprietorship concern.
In case of Partnership firms / Company Accounts any one
partner/
Director |
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Free of charges at selected centres where
we are authorised to issue |
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As applicable to opening of Current Accounts
/ required documents. Available in 25 identified branches. |
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As part of our 90th year celebrations we
have introduced a new loan product against rent receivables |
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Rent Plus |
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Term Loan |
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7 years or the residual period of
lease ,whichever is lower |
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Owners of buildings and commercial
properties which are to be rented or already
rented to MNCs / Banks/ Large and medium size
corporates |
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To meet liquidity
mis-match / any other purpose of the applicants |
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Net rent (less TDS) receivable for the
lease period less our margin Minimum Rs.1 lac......
Maximum Rs.750 lacs for corporates and non-corporates |
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15% |
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EMI equivalent to number of months of unexpired
lease, maximum 84 months |
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14.25% (1% above SBMPLR
ie. 1 + 13.25 = 14.25%) |
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Assignment of receivables
and recording of Power of Attorney
with the lessee |
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- First charge on the buildings against the rental of
which the loan would be sanctioned. Value
of the property should be 1.5 times the
amount of loan to be sanctioned. Security of
alternate property of equivalent value acceptable
- In case of partnership firms, personal guarantee of
partners and in case of limited companies, personal
guarantee
of directors to be obtained
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To cover the value of assets charged to
the Bank |
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1% of the loan amount to be paid as processing
charges |
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This product can also be marketed to the
landlords of all our branch premises and houses taken on lease
for officers who provide a captive market to the Bank |
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Contact
your nearest Branch
of State Bank of Mysore or |
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Chief Manager
State Bank of Mysore
Commercial & Institutional Banking Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901 to 22353909 ; 22353473.extn.378 ; 22259759
Fax: 91 80 22262361
Email:cmci@sbm.co.in
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