Baroda Covid Emergency Credit Line Guarantee Scheme

Purpose:

To meet the temporary liquidity mismatch arising out of impact of Covid-19 pandemic.

Facility:

FBWC in the nature of short term loan/demand loan (one time).

Loan Amount:

Maximum 10% of the existing fund based working capital.

Limits (FBWC) subject to maximum of Rs. 200 crores. This is in addition to existing adhoc/excess/SLC/Gold Card Limit. Existing adhoc/excess shall be repaid on due date.

Tenor of Loan:

Door to door maximum 24 months.

Repayment moratorium – 6 months (maximum)

15% of the loan amount is repayable monthly/quarterly installment in first 6 months and balance 85% amount is repayable in next 12 months. Interest to be served as and when applied.

Validity of scheme:

The scheme was applicable upto 30.06.2021. As on date the scheme is discontinued.

Availability period:

The borrower can draw the sanctioned amount in part or in one go within 3 months of sanction.

BGECL 1.0:

• The Scheme is launched in the Bank in line with ECLGS 1.0 scheme of NCGTC guidelines.
• Under this scheme, units with total outstanding from banking system upto Rs. 50 crores, may be allowed additional working capital term loan, maximum upto 20% of fund based outstanding amount, as on 29.02.2020.
  The borrowers who are eligible for One Time Restructuring (OTR) as per RBI guidelines dated 05.05.2021 and availed loan under ECLGS 1.0 for tenor of 4 years (including moratorium of 12 months), will now be eligible to avail a tenor of 5 years for their BGECL loan i.e. repayment of interest only for the first 24 months and with repayment of principal and interest in 36 months thereafter.
  Further, additional loan Upto 10% of the FB outstanding as on 29.02.2020 shall be allowed to such borrowers in tandem with restructuring as per RBI guidelines, provided they have not availed additional assistance under BGECLS 3.0.They shall not be subsequently eligible for BGECLS 3.0 i.e. borrowers may either avail of this additional 10% or additional assistance under BGECLS 3.0 but not both.
• Borrowers with DPD up to 60 days as on 29.02.2020, are eligible under the scheme.
• Rate of interest: BRLLR+1% p.a. subject to maximum of 7.50% p.a.
  1. For further details kindly contact branch.

BGECL 2.0:

• The scheme is launched in the Bank following ECLGS 2.0 Guidelines issued by NCGTC.
• Under this scheme, maximum up to 20% of fund based outstanding amount as on 29.02.2020, are provided as additional working capital term loan. This facility is available to borrowers with outstanding above Rs. 50 crores and up to Rs. 500 crores as on 29.02.2020.
• The borrower’s upto 60 days past due are eligible under the scheme.
• The scheme is available to 26 sectors identified by Kamath Committee and Healthcare sector which are affected by COVID-19.
• Rate of Interest: BRLLR+1% p.a for MSME units and MCLR +1% for Non-MSME.
• For further details kindly contact branch.

BGECL 3.0:

• The scheme was launched in the Bank following ECLGS 3.0 scheme introduced by NCGTC,
• This scheme covers business units engaged in Hospitality, Travel & tourism, Leisure & Sporting sectors, Civil Aviation sector.
• Under this scheme, loan facility upto 40% of total credit outstanding across all lending institutions as on 29.02.2020 or upto Rs. 200 crores, whichever is less, shall be extended.
• The borrowers with DPD up to 60 days are eligible under the scheme.
• For further details kindly contact branch.

BGECL 4.0

• The scheme was introduced in Bank following ECLGS 4.0 Guidelines issued by NCGTC.
• All existing hospitals / nursing homes / clinics and units engaged in manufacturing of liquid oxygen, oxygen cylinders etc. are covered under this scheme.
• Borrowers with DPD upto 90 days as on 31.03.2021 are eligible under the scheme.
• Maximum loan amount: Rs. 2 crores.
• The Rate of interest is capped at 7.50% p.a ( ROI linked to BRLLR / MCLR of Bank)
• For further details kindly contact branch.

BGECL Extension (BGECLS 1.0, 2.0 and 3.0)

• The Scheme was extended in Bank following Guidelines issued by NCGTC
• Eligibility:Existing borrowers under respective BGECLS 1.0/2.0/3.0 or new borrowers eligible based on revised reference date of March 31, 2021 and meeting the other terms of these guidelines are eligible.
• Eligible Amount of credit facility

  BGECLS 1.0 (extension): WCTL up to 30% (enhanced from the present 20%)

  BGECLS 2.0 (extension): WCTL or NFB facility or mix of the two up to 30 % (enhanced from the present 20%)

  BGECLS 3.0 (extension): WCTL up to incremental credit eligibility based on outstanding of 29.02.2020 or 31.03.2021 whichever is higher.

• DPD: Acceptable upto 60 days in any of the facilities as on reference date 31.03.2021.
• Rate of interest: BRLLR (for MSMEs) / MCLR (for non-MSMEs) +1%, subject to a maximum of 9.25% per annum.
• Repayment Schedule:

  BGECLS 1.0 (extension): 36 monthly instalments

  BGECLS 2.0 (Extensions) and BGECLS 3.0 (Extension): 48 monthly instalments

• For further details kindly contact branch