RMGB – SME CONNECT SCHEME.     

• Eligibility: a. New MSME Enterprises as per MSMED act 2006
  b. All existing borrowers having satisfactory record and have not availed working capital facility during last one year.
  c. Take over from other banks is permitted (subject to compliance with take over norms)
  d. Existing borrower who have availed loan may also take new term loan in RMGB SME connect.
• Activities: All MSME eligible activities as per MSMED Act 2006 and RBI/Bank guidelines on MSME activities & exposure eligible for Priority Sector.
• Purpose:
  Term loan:For funding requirement of plants and machinery/ Equipment / Tools/ Gen-set and construction of building for factory, educational institutions, hospitals and hotels etc.
  Working capital: Requirement against currents assets  
• Quantum of Finance:Minimum above Rs. 10.00 lacs and maximum Rs. 500.00 lacs.
• Repayment Period: Cash Credit : Repayable on demand and Term loan: Maximum 84 Months
• ROI:Up to Rs.50.00 Lacs 10.50%
  Above Rs.50.00 lac as per CRA rating
• *Product features and ROI are subject to change from time to time as per discretion of the Bank