SME Digi Sugam - Business

Features

• Target Group & Eligibility: 
  • MSMEs (Identification/ Categorization as MSME will be as per the Revised MSME definition dated 01.06.2020).
  • Udyam Registration Number (URN)
  • Customers with GSTN data of at least 2 years
  • ETB Customers: Customers with Current Account in SBI or in other banks including SBI.
  • No Working Capital credit limits from any Financial Institutions including SBI. (Credit limit to be verified through CIC report
• Pre-requisites:
  • GSTN registered for more than 24 months to be fetched from Fintech/ Account Aggregator (will be decided by as per availability of facility required for the product)
  • Account statement to be uploaded in YONO-B/ SBI Account Statement can be pulled through CBS/fetched from Account Aggregator (till account aggregators facility is made available with the Bank) can be uploaded for other Bank account statement.
  • KYC – Udyam Registration, PAN number, GSTN number
  • At least 2-year IT return (xml/ JSON format)
• Purpose: To provide hassle free finance for financing their requirements through normal working capital loan related to their business activity on digital platform.
• Business Vintage: Minimum 2 years
• Constitution: Individuals/ Proprietorship
• Nature of Facility: Dropline OD with Top-Up option
• Quantum of loan: Min. Rs 1.00 lakhs Maximum Rs. 50 lakhs (25% of the turnover during last 12 months, Turnover calculated will be lower of GST sales, Credit Summation in Account and projection estimated for next 12 months)
• Criteria for Top-up/Enhancement:
  • Digital Top-up/ Enhancement will be considered on completion of 12 months from date of disbursement.
  • Account should not be reported as SMA-1/2 during last 12 months.
  • Credit Summation against sales in last 12 months should be greater than 80%. (If sales as per GST in last 12 month is Rs 100.00 Lakhs than Credit Summation in the current account must be greater than Rs 80.00 Lakhs)
  • Digital Top Up will be restricted to 15% of the limit already availed through Digi-SUGAM or actual limit assessed based on past turnover after 12 months (whichever is lower)
  • If the limit exceeds Rs 50.00 Lakhs ceiling due to proposed enhancement at the time of renewal, the proposal will be redirected to Branch Channel or limit can be renewed at Rs 50 lakhs, at the request of the customer.
  • If the customer desires more than 15% enhancement the proposal will be moved to Branch Channel.
• Repayment Period: Repayable in 36 months with Principal equally distributed method + interest as and when applied. In case of Top-Ups, new account will be opened with a repayment period of 36 months from date of opening of Top-up account.
• CIBIL Score: 
  • CMR score, if available should be 1 to 7
  • If CMR is not available, Minimum Credit Score of 650 or -1 will be accepted
  • No write off / settlement in CIC report in last 2 years
• Pricing: Competitive pricing linked to EBR
• Unified Charges: Flat charges - Rs.10,000/- to be recovered at the time of sanction. If Top Up availed – Rs 5000/-
• Pre-payment penalty/Pre-closure/Foreclosure: Pre-payment Charges, on Micro & Small Enterprises as defined under MSMED Act 2006, shall not be recovered even on cases of takeover by other banks/ FIs. For others, charges to be recovered as per Bank’s instructions.
• Insurance: Not Mandatory before sanction but Comprehensive Insurance to be insisted upon for stocks.