SBT floats new loan schemes for MSMEs

State Bank of Travancore (SBT) is introducing special loan schemes, offering loans at an interest rate of 8 per cent per annum, to assist the micro, small and medium enterprises (MSMEs) segment.

This concessional rate of interest will be available for existing units with a limit up to Rs 10 crore. Term loan, repayable within five years, is provided for the purchase of equipment, tools, generator sets. Working capital demand loan, up to 20 per cent of the limit enjoyed by MSME units, is also available.