The objective of this scheme is financing of SMEs for acquisition of equipment, services and adopting measures for enhancement of energy efficiency/ conservation of energy.
SME units financed by Bank and other units desirous to shift their account to Bank of Baroda are eligible to participate in this scheme.
c) Scheme Details (Financial Parameters)
d) Procedure to Avail the Scheme
The limit for the financing is up to 75% of the total project cost, subject to a maximum of Rs. 1.0 crore. Minimum amount of loan is Rs. 5 lakh
The Project cost may include the following;
- Cost of acquisition / modification / renovation of equipment / software
- Cost of alterations to existing machinery
- Cost of structural / layout changes.
- Cost of energy audit / consultancy
- Preparation of Detailed Project Report (DPR).
The rate of interest for the loan is base rate plus 4.00% p.a. The maximum allowable repayment period is five years including moratorium period. The security for Sole Banking Accounts is the extension of first charge on all fixed assets. The security for Consortium / Multiple Banking Accounts is first charge on equipments acquired out of loan and collateral, if any, with the total security coverage being not less than 1.25.
The borrower is supposed to execute an agreement with Bank of Baroda, the details of which can be downloaded from http://www.bankofbaroda.co.in/bbs/financeenergy.asp
e) Contact Details
f) Scheme details can be viewed at: