Purpose
To meet the temporary liquidity mismatch of FPO / FPCs arising out of COVID-19.
Eligibility
Existing FPO / FPC borrowers of our Bank under Standard category
Quantum of Loan
10% of the combined limits (includes CC and TL) sanctioned to FPO / FPC with Max amount of Rs.5,00,000/- (Rupees Five lakhs only)
Nature of facility
Working Capital Demand Loan
Rate of Interest
One year MCLR + SP
Margin
Nil
Repayment Period
Maximum Moratorium of 6 months
Repayment can be fixed through monthly / quarterly instalments basis after the completion of moratorium period
Security
Extension of Hypothecation of Stock / structure / equipment / machinery purchased or created out of bank finance
Collateral Security
For group exposure up to Rs 100.00 lakhs and Credit Guarantee sought from SFAC- No collateral security required but the CG coverage to be enhanced through due process of application to SFAC
For credit facilities without CG from SFAC and / or credit facilities of more than Rs 100.00 lakhs – As per Bank’s policy
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