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MARGIN MONEY LOAN TO SSI UNITS
Promoted by Non Resident Keralites |
| Objective |
| The objective of this scheme is to assist technically qualified Non-Resident Keralites to start industrial units in Kerala in the field in which they have acquired technical know-how and experience while working in industrial units in other states in India and abroad |
| Eligibility |
| This loan is given to technically qualified Non-Resident Keralites and is given for both term loan and working capital loan. |
| Limit |
| Margin money loan shall be limited to 20% of the cost of project or of the working capital requirement. The maximum limit under this scheme is Rs 0.5 million. The rate of interest shall be 9% per annum. |
| Repayment |
| The loan shall be paid back in 24 equal quarterly instalments. In the case of term loan the first instalment of repayment is due on three months after the date on which the last instalment of the term loan falls due/51st month of the disbursement of the margin money loan whichever is earlier. In the case of working capital loan the first instalment of repayment is due on completion of the 51st month from the date of disbursement |
| Application |
| Applications are to be submitted to the General Manager, District Industries Centre Disbursement . This loan can be disbursed to the unit only through the concerned financial institution. |
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