#1
June 11th, 2016, 11:41 AM
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Collateral Free Loan Union Bank of India
Hello, I want to know the details of the Collateral Free Loan of the Union Bank of India. Please provide me.
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#2
June 11th, 2016, 12:14 PM
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Re: Collateral Free Loan Union Bank of India
Hello, here I m providing you the details of the Collateral Free Loan of Union Bank of India as under: MSME MARGIN Collateral Requirements: Credit assistance to MSEs upto Rs.5 lakhs is extended without any collateral securities Collateral free financial assistance above Rs.5 lakhs and upto Rs.100.00 lakhs is extended to Micro & Small Enterprises as per operational guidelines All the eligible collateral free loans extended to Micro & Small Enterprises borrowers are covered under Credit Guarantee Scheme of Credit guarantee Fund Trust for Micro & Small Enterprises (CGTMSE) In other cases the quantum of collateral coverage is decided based on the activity and risk involved with the activity / promoters However quantum of collateral is not a hurdle while extending financial assistance to MSMEs in general Margin Requirements Normal margin for CC limit remains 25% for Stocks and 40% for Book Debts limit. On Bills limit margin varies from nil to 10%. With a view to support the MSE sector relaxations in margins to deserving viable MSEs may be considered upto 20% for stocks, upto 30% for Book Debts and upto nil extent in case of Bills facilities MARGIN, I.E. YOUR SHARE:- Minimum - 25%. NATURE OF FACILITY:- Demand Loan. |