IOB SME Contractor SME Contractor
Indian Overseas Bank finance and bank guarantees for government registered contractors and sub-contractors doing works for government departments, PWD, public sector units or highly rated companies.
Last updated on
- Status
- Open
- Run by
- Indian Overseas Bank
What you get
- From above ₹20 lakh up to ₹5 crore, counting cash and guarantee limits together
- Cash credit renewed yearly, and term loans over up to 5 years with a 3 to 6 month holiday
- Lower guarantee margins for well rated borrowers, at least 15% for financial guarantees and 10% for performance guarantees
- Processing fee concession for well rated borrowers
Who can apply
- Businesses that are already running.
- Open to businesses in services.
- The most on offer is ₹5 crore.
- Individuals, proprietorships, partnerships and companies
- Must be registered as a contractor with a central or state government authority
- Collateral of property or liquid securities worth at least 120% of the total limit
How to apply
- Visit your nearest IOB branch with your contractor registration and work orders
In person, nearest Indian Overseas Bank branch
In Kerala, any Indian Overseas Bank branch in Kerala
Where we found this
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 Seen something out of date?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.