Emergency Credit Line Facility

For times when you need Financial Ease! Offering you the option of Emergency Credit Line Facility!

We understand that the prevailing situation is a source of concern for people at large. Just wanted to let you know that you can count on us. As announced by our Honourable Finance Minister, as a measure of relief we offer you a pre-approved Emergency Credit Line (additional loan). Under this facility you can avail up to 20% of your existing outstanding loan with HDFC Bank as on 29th February 2020.

Here are few important points for you to know:

1.    Eligibility norm:

I.    All Business Enterprises/MSME’s with total Fund based outstanding of up to 25 crores as of 29th February 2020 and turnover of up to 100 crores in FY 19-20 are eligible.
​​​​​​​

II.    There should be no overdue payment beyond 60 days with any Financial Institution as on 29th February 2020.

2.    Emergency Credit Line will be capped at 20% of the total fund based outstanding as on 29th Feb 2020.

3.    Interest rate as per the scheme is External benchmark + 1% subject to maximum of 9.25% per annum.

4.    Additional facility can be availed for a maximum tenure of 4 Years from date of disbursement with maximum one-year moratorium (deferment of payment) on the loan principal amount.

5.    100% Guarantee Coverage for the additional loan under the emergency credit link scheme is operated and managed by National Credit Guarantee Trustee Company Ltd (NCGTC), a wholly-owned trustee company of Government of India.

6.    There is no processing fees/Guarantee Fees/foreclosure charge other than interest rate and stamp duty as applicable for documentation, to avail this facility.

7.    There will be an extension of existing security on the additional facility and hence customer will need to execute documentation of enhancement with the Bank.

For more details visit: https://www.eclgs.com

To avail this product contact your relationship manager today.