Canara e-GST
A digital working capital loan from Canara Bank for GST-registered MSMEs in manufacturing, services or trading, sized on GST turnover, from above ₹1 lakh up to ₹5 crore.
Last updated on
- Status
- Open
- Run by
- Canara Bank
What you get
- Working capital above ₹1 lakh up to ₹5 crore, based on GST turnover
- Open to existing Canara customers and to new customers
- No collateral up to ₹10 lakh, covered under CGFMU
- Above ₹10 lakh up to ₹25 lakh, covered by CGTMSE, collateral or a mix
- Above ₹25 lakh, collateral of at least 75% of the loan is needed
- No margin on drawing power
- Digital e-signing and stamping where the state supports it
- No documentation charge up to ₹2 lakh
Who can apply
- Businesses that are already running.
- Open to businesses in manufacturing, services and trading.
- Micro, small and medium enterprises.
- Age 18 or over.
- The most on offer is ₹5 crore.
- Udyam registration is needed. It is free.
- GST registration with at least 6 months of GST returns. 12 months of returns and 12 months in business are needed for the fully online route
- Individual, proprietorship, partnership, LLP or private or public limited company
- No working capital limit with any other bank or lender
- At least 75% of GST turnover must pass through a bank account
- No overdue or bad loan accounts, and none in serious arrears in the last 12 months
- Promoters need Aadhaar and PAN
How to apply
- Keep your Udyam certificate, PAN, Aadhaar and GST registration ready
- Apply on Canara Bank's MSME loan portal
In person, nearest Canara Bank branch, for the branch-assisted route
In Kerala, online through Canara Bank's MSME loan portal, with a branch-assisted route for cases that do not pass straight through
Documents to keep ready
- Aadhaar
- PAN
- Udyam Registration Certificate
- GST registration certificate
Where we found this
- Canara e-GST (external site) Official
- Canara Bank MSME Digital (external site) Official
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.