Someone is here who will provide information about Rice Mill Plus Scheme of State Bank of India (SBI)? What is margin of State Bank of India (SBI) in Rice Mill Plus Scheme?

Here I am providing complete information related to Rice Mill Plus Scheme of State Bank of India (SBI):

State Bank of India (SBI) Rice Mill Plus Scheme:

Eligibility
Units engaged in the activity of rice milling and having credit rating of SB-9 and above as per the bank’s risk assessment.
Units must be profit making.
New established units are also eligible

Purpose
Acquisition of machinery/factory building for modernization/expansion,
Working capital needs.

Facility
Term loans
Working capital loan (Fund based and non fund based)
Outward Bill limited
SME credit plus.

Quantum of Finance
Term loan is based on project cost
Working capital: Need based limit without any upper ceiling.

Margin
Term loan - 15% - 25%
Working capitals: 15% to 40%

Interest Rate
Interest is floating and linked to Base Rate, depending upon the size of the limit and value of collateral security.

Security
Primary: Hypothecation/ pledge over assets created out of bank finance.
Loan over 10 lakhs: Equitable mortgage of property/ tangible securitybelonging toborrower/ guarantor.

Repayment Period
Term loan - between 5 to 7 years excluding the moratorium period of 12 months
Working capital loan for 12 months subject to satisfactory conduct of account. The limit is renewable after 12 months.

Insurance
The assets created out of Bank?s finance are to be insured for the full value.