Here I am giving you the details about the Small Scale Industries loan of the Corporation bank

Acknowledgments for receipt of loan application by branch by affixing date stamp.

Time Norms for disposal of loan applications:
a] Upto Rs. 25,000 - Within 2 weeks
b] Over Rs. 25000 & upto Rs. 5 lacs - Within 4 weeks
c] Over Rs. 5 lacs - Within 8-9 weeks
From the date of receipt of duly completed loan application and check list


No collateral security for advances upto Rs. 5 lacs and for Advances over Rs. 5 lac upto Rs. 25 lakh based on good track record and financial position.

Composite loan upto Rs. 100 lakh is sanctioned to SSI units.

Loan quantum :
Minimum 20% of projected annual sales turnover (Nayak committee norms) for working capital requirement

Margin Money Requirement (Contribution by the Borrower):

Loans upto Rs. 25,000/- NIL
Loans above Rs. 25,000/- 15% to 25%

Interest Rates
Borrower Category Tenor upto 1 year Tenor above 1 year
A) Credit limits upto & inclusive of Rs.0.50 lakhs 10.50% 11.00%
B) Credit limits above Rs. 0.50 lakhs and upto & inclusive of Rs. 1 crore 11.50% 12.00%

C) Credit limit above Rs 100 lakh Maximum @ COBAR + 0.50%i.e.,13.00% Maximum @ COBAR +0.50%i.e., 13.00%

(Depending upon Borrower grade)