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7.35 % * p.a

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Interest Rate (balance between 1 lakh to 5crs) Know More
1800-103-1222

accounts iconMSME Loan

savings

MSME Loan

We know that formal financing options for all the Self-Employed, driven segment are limited. Especially, when you need to mobilise significantly high amount of money. The dependence on informal sources (chit funds, private money lenders, etc) is high.

We at Equitas recognise the “Missing Middle” segment’s requirement and have been giving importance to it because we know your contribution is very significant to our country’s growth.
Purpose of the loan – The loan may be provided to self-employed applicants for meeting any of the following large-ticket expenses:
  • Business expansion
  • Closure of high-cost loans
  • Higher education of children
  • Medical expenses
  • Renovation of house
  • Other expenses – Customer to specify
Particulars Minimum Card Rate
Login Fees* Rs. 5000
Processing Fee* Minimum 1% of the facility amount
Renewal Fees Minimum 0.75% of the facility amount
Overdrawn charges/security not perfected/covenant not complied with 2% over and above the agreed rate
Commitment charges - Average Quarterly Utilisation < 50% 0.5% of the unutilised amount. Charges will be levied on a quarterly basis. Applicable only for CC/OD facility
Penal Interest for non-submission of Stock Statement @2% additional rate on existing ROI for non-submission of Stock Statement
Non-Submission of property/stock insurance 2% additional Rate of interest on the amount out-standing.
ROC Filing charges Rs 3000/- (plus taxes) per filing on availing bank empaneled vendor services.
Cheque Bounce Charges ( Term Loan) Rs 500 (plus taxes) Per cheque bounce
Late payment penalty (Term Loan) 24% per annum (plus taxes) on the amount out-standing from date of default.
Levy of Takeover Charges on customers in case the loan is taken-over by other Banks and NBFCs. 4% of loan Outstanding for Term loan and 4% of the sanctioned amount for Working Capital Facility plus taxes as applicable.
Conversion Charges (For revising Rate of Interest – Fixed to Floating or Vice Versa) 0.25% plus Taxes as applicable on Loan outstanding in case of Term loan and on Sanctioned amount for other Working Capital facility or 5000/- plus taxes as applicable which ever is higher

*Non refundable

features Charges

Account Features for CC/OD Product code

Interest Rate

Market Linked Benchmark (MLB): External Benchmark Rate is arrived based on FBIL 3 Month T Bill Rate. FBIL is an external rate benchmark published by Financial Benchmark India Private Ltd. Rate is published at http://www.fbil.org.in/securities.

Charge Type
Charges Applicable
Free Cheque book (PAP cheque book of 25 leafs)
10 cheque book free per month for limit amount equal to or greater than Rs. 2 Cr.

4 cheque books free per month for limit amount less than Rs. 2 Cr.
Charges beyond free limits
Rs. 2 per leaf

Charge Type
Charges Applicable
Local Cheque clearing
Free
Outstation cheque collection charges at bank/non-bank location
Upto ₹ 5000 charge of ₹ 25/-
Above 5000 and upto and including ₹ 10,000 charge of ₹ 50/-

Above ₹ 10,000 ad upto including ₹ 100000 charge of ₹ 100/-

Above ₹ 100000 charge of ₹ 150/-
RTGS Inward
Free
NEFT Inward
Free
IMPS Inward
Free

Charge Type
Charges Applicable
Demand Draft and Payorder at branch locations
Free upto 10 DDs or POs per month
Charges beyond free limits
Rs. 50 per DD
Demand Draft at non-branch locations
Rs. 100 per DD
PAP Cheque payment
Free
RTGS and NEFT Outward Charges at branch (Free online)
Free
IMPS Outward
Upto Rs. 50,000/- charges of Rs. 5/- per transaction, Rs. 50,001 to Rs. 2, 00,000/- charges of Rs. 15/- per transaction.

Charge Type
Charges Applicable
Free Cash Deposit at home location
10% of the sanctioned limit per month
Charges beyond free limits
Rs. 3/1000
Cash Deposit at Non-Home location
1% of the sanctioned limit per month
Charges beyond free limits
Rs. 4/1000
Cash Withdrawal at home location
Free
Cash Withdrawal at Non-Home location
Free upto Rs. 50000/- per day by self or third party, beyond which charges of Rs. 4/1000

Charge Type
Charges Applicable
stop payment single cheque
Rs. 100/- per cheque
stop payment series
Rs. 150/- for a series of 25 cheques
Outward cheque return charges for financial reasons
Rs. 50/- per cheque
Outward cheque return charges for technical reasons
NIL
Inward cheque return charges for financial reasons
Upto 2 cheques Rs. 350/- per cheque, 3-5 cheques Rs. 500, 6th cheque onwards Rs. 750 per cheque
Inward cheque return charges for technical reasons
NIL
Standing instructions set up
Free
Standing Instructions failure (return)
Rs. 200/- per return
ECS/NACH Return due to financial reasons
Rs. 500/- per return
SMS Alerts
Rs. 25 per Quarter

Charge Type
Charges Applicable
Balance Certificate at Branch (Online Free)
Rs. 250/- per instance
Previous Year balance and interest statement
1 free per annum, more than 1 Rs. 300/- per statement
Signature verification certificate/Photo Attestion/Address Confirmation
Rs. 50/- per instance
Stock Statement non-submission charges
Rs. 750/- per month/Quarter
Duplicate TDS certificate
Rs. 100/-
Duplicate account statement Print (Free Online or on email)
Rs. 200/-
DD/PO revalidation/cancellation
Rs. 100/-

Charge Type
Charges Applicable
Cheque pickup Oncall per instance
Free one pickup per day (More than once a day Rs. 50/- per call) for limit amount equal to or greater than 2 Cr.

For limit amount < 2 Cr. Rs. 50 per call.
Cheque Pickup beat (per month)
Rs. 450/-
Cash pickup Beat (charges per month)
Upto Rs. 200000
Rs.2200/-
Rs. 200000 to Rs. 500000
Rs. 3200/-
Rs. 500000 to Rs. 1000000
Rs. 8000/-
Rs. 1000000 to Rs. 2000000
Rs. 12000/-
Rs. 2000000 above
Contact Branch
Cash pickup On call (charges per instance)
Upto Rs. 200000
Rs. 150/-
Rs. 200000 to Rs. 500000
Rs. 300/-
Rs. 500000 to Rs. 1000000
Rs. 500/-
Rs. 1000000 to Rs. 2000000
Rs. 800/-
Rs. 2000000 above
Contact Branch
* Available on request at select locations only
Taxes as applicable will be additional
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Know your
Application Status
Notification of Sanction/Rejection will be communicated to you , within two weeks in case your application is for a credit limit or enhancement in existing credit limit up to Rs. 5 lakhs ; within 3 weeks in case your application is for a credit limit or enhancement in existing credit limit above 5 lakhs and upto 25 lakhs; and within 6 weeks in case your application is for a credit limit or enhancement in existing credit limit above 25 lakhs from the date of receipt, provided your application is complete in all respects and is accompanied by documents as per `check list’ provided.
OR
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