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SME Loans (Small & Medium Enterprises)
(Turnover Up To 250 Cr)

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through hassle-free credit and trade services

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Power OD

Provide a boost of liquidity to your business through easy to use quick overdraft facilities

Overview

Grant your business access to a hassle-free and simplified source of funds with the PowerOD (overdraft) Program. A feature applicable for various business units including MSME units engaged in manufacturing, trade and services activities. The Power OD program can be a great tool to address any short term need for funds.

Please note that this service is not extended to Arthiyas and commission agents.

Key Highlights

This is an overdraft facility which can be availed by the client for working capital purposes. The overdraft limit is not linked to one’s drawing power. Limits under this program cannot be clubbed with any other Program of Commercial Banking Group

Features and Benefits

Turnover - Upto Rs. 100 Cr.

Limits - Upto Rs. 5 Cr. (ECLGS Limits are over and above the limits specified)

Product Offerings - Overdraft Facility, Bank Guarantee & Letter of credit

Collateral - Residential, Commercial and Industrial property acceptable and Fixed Deposit

Key Documents Required

KYC Documents:

  • KYC of borrower , Associate / Group Concern / Corporate Guarantor (if applicable) :
    • PAN
    • GST registration certificate/ Certificate of incorporation 
    • Constitutional Documents like MOA , AOA, Partnership Deed etc. (as applicable))
  • KYC of key individuals (Shareholders, Directors, Signatories, Partners etc.):
    • PAN
    • Any one address verification document like Aadhar/Voter Card/Passport/Driving License 

Financials & Related documents:

  • Complete Set of audited financials of the borrower / Corporate guarantor / Group Entities (if applicable) for 3 years including:
    • Profit and loss statement
    • Balance sheet
    • Schedules
    • Independent auditors report 
    • ITR, Tax Audit Report
  • Latest Provisional financials (if last audited financials are > 13 months old)
  • Signed Projections
  • Bank Statements of last 12 month for all operative business accounts (CA, WC)
  • GST Returns for last 12 Months

Other Supporting Documents:

  • Latest sanction letter of existing bank (wherever applicable)
  • Sanction Compliance Checklist
  • Udyam Registration Certificate (if available)
  • Duly signed SME Application Form

Collateral Security Related Documents:

  • Copies of title deeds, property tax paid receipts, approved plans etc.

Noe: This is an indicative list and bank may ask for additional documents if required.

Purpose

Overdraft facility for working capital purposes