State Bank Of India

State Bank of India (SBI) unveils a new product to provide a short-term working capital demand loan to its MSME clients. The new initiative, called SME Assist, would offer loans to MSME customers on the basis of their input credit claims under Goods and Services Tax (GST). The loans will be offered at a concessional rate of interest.

The loan processing fee under the scheme is Rs 2,000. The companies applying for a loan under the product have to provide a certificate from their chartered accountant confirming the input credit claims.

State Bank of India (SBI) offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.