Baroda SME Gold Card

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.

• As per credit rating and as applicable to cash credit.