Public sector lender Bank of Maharashtra on Wednesday said it has launched credit facilities for its existing corporates, retail and agriculture sector borrowers to tide over their funding mismatches amid coronavirus outbreak.
For existing home loan borrowers, the lender is providing personal loans for all standard housing loan accounts, where security charge is completed and repayment started.
"The quantum of finance is up to Rs 3 lakh and a maximum repayment for 36 months including six months of moratorium," the bank said in a statement.
All existing housing loan borrowers, who have already availed personal loan, are also eligible subject to deduction norms, it said.
For self-help groups (SHG), the lender is offering a loan of Rs 7,500 per member of SHG and up to Rs three lakh per SHG.
These loans are given for a period of three years with a monthly/quarterly/half yearly repayment option. There is a moratorium of six months on these loans.
It is offering instant credit to farmers for farm maintenance and other farm related activities and related domestic purposes.
"The limit stands at 50 per cent of existing KCC sanction limit / term loan limit subject to minimum Rs 10,000 and a maximum of Rs one lakh for existing KCC account holders having regular repayment, the bank said.
The tenor of the scheme is 30 months, which includes a moratorium of six months.
For agro-based industries or units, the bank is offering loans to borrowers up to 10 per cent of their existing fund based working capital limit, with an upper cap of Rs 10 crore.
For corporates, bank is providing 'Ad-hoc Line of Credit Covid-19 by way of stand by line of credit) (SLC) to overcome the liquidity impact of Covid-19.
"The quantum of finance is maximum up to 10 per cent of the existing fund based working capital limit, maximum up to Rs 50 crore, the bank said.
The loan will be given for 12 months and the moratorium will be for a period of six months, BoM said.
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