CentralBank of India-MSME
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Is External Credit Rating by approved rating agencies mandatory for the MSE borrowers ?

External Credit Rating is not mandatory but it is in the interest of the MSE borrowers to get Credit Rating done as good credit rating would help in getting cheaper funds from Bank in terms of concession in interest rate and processing charges. Also it will help in enhancing the image of the unit in the market and procuring orders.

How can I calculate the EMI for my Loan Amount ?

You can easily calculate your EMI by using EMI Calculator which is available on our website. For calculation you just require Loan Amount, Rate of Interest for particular Loan and required Loan Tenure.

What is the Tenure of the Loan ?

In case of Term Loan, tenure of the loan is the period for which the loan is given, within which repayment of loan is to be made. It varies as per schemes/repayment capacity of the borrower.

How can I repay the Loan ?

Loan can be repaid in Equated Monthly / Quarterly instalments comprising principal and interest as the case may be. It can be paid by Cash / Transfer / Cheque, by Standing Instructions to Deposit Account (same Bank A/c), by Internet Banking or by ECS (other Bank A/c).

Can I make prepayment of my Loan ?

Yes, you can repay the loan ahead of schedule.

Are the Bank’s policies subject to change ?

Yes, Bank’s policies subject to change and will be reviewed periodically.

From where I can get the brief about MSME (Micro, Small & Medium Enterprises) ?

You can contact to our Nodal Officer, the name and contact details can be seen in our Website or you can contact Udyami Helpline (Service by Ministry of MSME) 1800-180-6763 (Toll-free).

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