Micro and Small Enterprises (MSE) Segment
Below mentioned are the timelines for application approval time process or duration for the Micro and Small Enterprises (MSEs) segment :
- Credit limits or enhancement in existing credit limit up to Rs 5 lakh within 2 weeks
- Credit limits or enhancement in existing credit limit above Rs 5 lakh and up to Rs 25 lakh within 4 weeks
- Credit limits or enhancement in existing credit limit above Rs 25 lakh within 8 weeks
For other loans
| For Tenor of facility up to 1 year |
30 days |
| For Tenor of facility beyond 1 year |
Project Loan: 60 days
Non Project Loan: 45 days |
DBS bank is a registered Member Lending Institution (MLI) under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme (Credit Guarantee cover).
| Fees & Charges |
| Processing Fee |
4% of the loan amount + applicable taxes |
| Foreclosure Charges |
Up to 5% of total sanctioned limit |
| Penal Interest |
3% over the existing rate of interest |
| Commission on Letter of Credit |
Up to 4% per annum commission shall be charged on pro-rata basis |
| Stamp Duty and other Statutory Charges |
As per applicable law of the state |
| Pre-payment Charges |
Nil, up to Rs. 50 lakh on fixed rate loans |
| Copy of Loan Documents |
Nil |
Note: The above mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the NBFC and RBI. GST and service tax shall be levied extra on the mentioned charges.
Also Read: Most Successful Small Scale Business Ideas in India
