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6. Grievance Redressal Mechanism
SIDBI has a Complaints and Grievance Redressal Policy in place to resolve the disputes arising interalia out of Fair Practices Code. The mechanism ensures that all disputes arising out of the decisions of SIDBI's functionaries are heard and disposed of by the Competent Complaint / Grievance Redressal Authority. Besides, in case, the complainant is not satisfied with the redressal step, the provision of complainant making an appeal to the appellate authority is also available.
7. Schedule of Fees & Charges
Fees & Charges
Term loan
| Upfront fees/processing fees - one time payment | Upto 2% of the loan amount sanctioned + Applicable Service Tax | |
| 2 | Expenses on legal/title search, visits, secretarial search, valuation of securities and security creation | On actual basis. |
| 3 | Interest rate | Based on internal rating linked to PLR |
| 4 | Interest rate reset | Every two years based on internal rating |
| 5 | Penalty for delayed repayments | 2%< |
| 6 | Prepayment interest - based on the remaining period of loan | 1 - 3 % |
| 7 | Switchover from fixed to floating interest rate | 2% of outstanding term loan> |
Working capital limit & MSME-RFS backed by Inland letter of credit
| SNo | Fees/charges | Rate |
| 1 | Upfront fees/processing fees - one time payment | 0.50% of the limit sanctioned + Applicable Service Tax |
| 2 | Annual review / renewal charges | 0.25% of the limit sanctioned + Applicable Service Tax |
| 3 | Expenses on legal/title search, visits, secretarial search, valuation of securities and security creation | On actual basis. |
| 4 | Interest rate | Based on internal rating linked to PLR |
| 5 | Interest rate reset | At the time of annual review / renewal based on internal rating |
| 6 | Penalty for delayed payments | 2% |
| 7 | Prepayment interest | Nil |
MSME Receivable Finance Scheme & Invoice Discounting Scheme
| SNo | Fees/charges | Rate |
| 1 | Upfront fees/processing fees | Nil |
| 2 | Annual review / renewal charges | Nil |
| 3 | Expenses on legal/title search, visits, secretarial search, valuation of securities and security creation | On actual basis. |
| 4 | Discount / Interest rate | Based on internal rating linked to PLR |
| 5 | Discount /Interest rate reset | At the time of annual review / renewal based on internal rating |
| 6 | Penalty for delayed payments | 2% |
| 7 | Prepayment interest | Nil |
Seller-wise MSME RFS (SRFS)
| SNo | Fees/charges | Rate |
| 1 | Upfront fees/processing fees - one time payment |
0.50% of the limit sanctioned + Applicable Service Tax |
| 2 | Annual review / renewal charges |
0.25% of the limit sanctioned + Applicable Service Tax |
| 3 | Expenses on legal/title search, visits, secretarial search, valuation of securities and security creation |
On actual basis. |
| 4 | Discount rate |
Based on internal rating linked to PLR |
| 5 | Discount / Interest rate reset |
At the time of annual review / renewal based on internal rating |
| 6 | Handling charges |
Upto `100/- per bill |
| 7 | Penalty for delayed payments |
2% |
| 8 | Prepayment interest |
Nil |
Direct Discounting Scheme (Equipment)
| SNo | Fees/charges | Rate |
| 1 | Upfront fees/processing fees - one time payment | Nil |
| 2 | Annual review / renewal charges | Nil |
| 3 | Expenses on legal/title search, visits, secretarial search, valuation of securities and security creation | On actual basis. |
| 4 | Discount / Interest rate | Based on internal rating linked to PLR |
| 5 | Discount /Interest rate reset | As prevailing at the time of discounting based on internal rating. |
| 6 | Penalty for delayed payments | 2% |
| 7 | Prepayment interest | Nil |
Guarantee Scheme
| SNo | Fees/charges | Rate |
| 1 | Processing charges | 0.25% to 0.50% of the Guarantee amount / limit to be charged upfront before issue of Letter of sanction / renewal of limit + applicable service tax |
| 2 | Guarantee commission | Financial Guarantee : 1.5% to 3% p.a. + applicable service tax Performance Guarantee : 1% to 2% p.a. + applicable service tax |
| 3 | Expenses on legal/title search, visits, secretarial search, valuation of securities and security creation | On actual basis. |
| 4 | Interest rate on invocation of guarantee | PLR + 4% |
Inland Letter of Credit
| SNo | Fees/charges | Rate |
| 1 | Usance charges | Upto 30 day bills : 0.20% Above 30 day bills : 0.30% for first 3 months and 0.10% for every additional 3 months |
| 2 | Commitment charges | 0.25% for every 3 months or part thereof for entire period of liability subject to minimum of 1000/- (including usance charges) |
| 3 | Retirement charges | 0.25% of the bills retired |
| 4 | Amendment charges | 1000/- for each amendment |
1.Upfront fee is payable at the time of sanction. However, no upfront fee/ processing fee will be charged for loans amount of upto Rs.5 lakh per borrower. Further, the fee may be refunded in full in case the applicant is not sanctioned any financial assistance.
2.No pre-payment charges will be charged by SIDBI from borrowers whose total loan amount is upto Rs.5 lakh. Prepayment interest will be charged depending upon remaining period of the loan i.e. 1% upto 1 year, 2% upto 3 years and 3% in r/o loans with remaining period of more than 3 years.
3. CGTMSE Guarantee fee / Annual Service fee is payable on actual basis.
For any details, please contact the nearest branch office of SIDBI
