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Baroda SME Gold Card
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Terms and Conditions
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Interest Rates & Charges
Baroda SME Gold Card : Terms and Conditions
Eligibility
- All micro, small and medium enterprises – as per regulatory definition and SMEs as per expanded definition viz., entities with their annual sales turnover up to Rs. 250 crores fulfilling the following criteria:
In case of existing accounts:
- A/c in standard category for last 2 years.
- Obligor credit rating of “BoB-5” and above.
- Working capital limits of Rs. 25 lakhs and above.
In case of Takeover accounts:
- Obligor credit rating of “BoB-5” and above.
- No deviation allowed in takeover norms while taking over account.
- Working capital limits of Rs. 25 lakhs and above.
- Eligible for the facility only after one year of takeover of the A/c.
Notes
- Accounts having sole banking arrangement with our bank are only eligible for Baroda SME Gold Card under both the above cases.
- There should not be any major inspection irregularities in the account.
Purpose
- To meet emergent requirements and tie up a temporary mismatch in liquidity arising out of delayed payment by buyers, tax payment etc.
Nature of Facility
- Working capital
Limit
- 10% of the assessed MPBF
Security
- Charge on current assets, extension of charge on fixed assets if stipulated for CC.
- Personal guarantee of directors.
- Collateral security as available to other facilities.
Period
- 12 months – to be allowed on 4 occasions during the year for a maximum period of 2 months on each occasion. However, there should be a minimum gap of 15 days between two drawls.
Other Conditions
- As applicable to regular cash credit and other facilities.
Baroda SME Gold Card : Interest Rates & Charges
- As per credit rating and as applicable to cash credit.
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