KVB Steel Plus

KVB Steel plus is a loan designed to meet the working capital needs of the entities that trade ferrous / non-ferrous iron and steel. This loan helps in running their business smoothly.

Features and Benefits
  • Entities dealing in trading of Ferrous / Non-Ferrous Iron & Steel with more than two years of profitable operations are eligible for this loan.
  • The purpose of the loan is to meet working capital requirements.
  • Fund based limits – Minimum of Rs. 15 Lakhs & maximum of Rs. 500 Lakhs.
  • Non-fund based limits – Minimum of Rs. 15 Lakhs & maximum of Rs. 500 Lakhs.
  • Working Capital limits - SOD / OCC.
  • Non-fund based limits – BG / ILC / FLC.
Charges and Fees
Margin
  • SOD – 40% on Primary Security.
  • OCC – 25% on Stocks and 35% on Book Debts not older than 90 days.
  • BG / ILC / FLC – 15% cash margin.
Tenor (months)
  • SOD / OCC – Running account and renewable once in 12 months.
  • BG / ILC / FLC – Running facility and renewable once in 12 months. LC shall be sanctioned with tenor not exceeding 90 days and FLC with tenor not exceeding 120 days. The tenor shall be based on the operational cycle.
Processing Fees
  • For fresh limits (Existing customers) – 0.375% + GST (25% concession).
  • For renewal of limits – 0.30% + GST (25% concession).
Primary Security
  • SOD – Equitable Mortgage on Land and / or Building other than agriculture property (with security coverage of 166.67%).
  • OCC / BG / ILC / FLC – Hypothecation of entire Current Assets including Stocks and Book Debts.
Collateral Security
  • SOD – Hypothecation of entire Current Assets including stock and book debts of the borrower, both present and future.
  • OCC / BG / ILC / FLC – Equitable Mortgage on Land and / or Building other than agriculture property. Minimum collateral security coverage shall be 75% as per the scheme. However, the branches and DOs shall endeavor to get 100% collateral security coverage.
Guarantor/s Partners of the firm/ Directors of the Co / Title holders of the immovable property given as security and Husband of Lady Guarantors / Proprietrix / Lady partners.
Interest Rate
  • The applicable Rate of Interest (ROI) is linked to the Credit Score / Rating.
  • For details please refer the section on Interest Rates.
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