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Particulars
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Scheme Details
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Name of the scheme
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SIB-Pharma Plus
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Target Customers
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Pharma Dealers/ Distributors/ Stockists handling Allopathic or Ayurvedic or Homeopathic drugs (Wholesale or Retail)
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Eligibility
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1. The business should be in existence for a minimum of 3 years in Pharma Distribution.
2. Business should be making profit for at least 2 years.
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Purpose
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To meet the working capital requirement of the business.
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Nature of finance
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1. Cash Credit Open Loan
2. Letter of Credit
3. Bank Guarantee
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Quantum of Finance
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Minimum Rs. 25.00 Lacs
Maximum Rs. 1500.00 Lacs
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Appraisal Format
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Our existing appraisal formats may be used according to the quantum of credit facilities proposed.
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Rate of Interest (CCOL)
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Click here to view the latest Rate of Interest |
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Charges/ Commission (Non-Funded facilities)
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Highly Competitive Rates
(For Information kindly contact nearest branch)
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Collateral Security
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1. 75% collateral for distributors having less than 5 years experience
2. 50% collateral for distributors having 5 years and above experience
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Processing charges
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0.20% p.a. of the loan amount
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Period of Loan
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12 months. Limit to be renewed thereafter
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Pre-Closure Charges
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Closed through Own funds
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2.00% on the sanctioned limit
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Closed by way of takeover by other Banks/FIs
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3.00% on the sanctioned limit
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Penal Interest
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2% p.a. for the defaulted amount for the defaulted period
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