SME loans see waiver on annual and service fees: SBI
By Vaibhav Aggarwal
Feb 6, 2012
Print    Email    RSS   

In order to boost the leading to the Small and Medium Enterprises (SMEs), State Bank of India has waived guarantees and service charges on such loans. Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) which is appointed by the Government, acts as guarantor for loans upto Rs. 1 crore.

The Managing Director (National Banking) at SBI, Mr. A. Krishna Kumar said, "The fees are basically a kind of insurance premium. To help clients, we have now decided to pay up to the Trust from our books."

If some loan lent by a bank turns bad than CGTMSE is responsible to pay back 75% of the loan amount to the former. It providers security to the banks.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Loan upper limit increased for women
Get a loan to meet your any personal need
Man caught for committing bank fraud
Loan against Securities: A viable...
Carnival of Indian Personal Finance Blogs #1

HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive