State Bank of Travancore has introduced a scheme named ‘SBT Contractor Plus’ that intends to provide hassle-free loans to contractors of various work relating to public infrastructure.

All registered/empanelled contractors and sub-contractors undertaking works on behalf of Central/State Government Departments/undertakings/multinational corporations and organisations are eligible.

WORKING CAPITAL

The loan is extended for meeting working capital needs; as term loans for purchase of construction equipment; and for providing bank guarantees for the purpose of earnest money deposit or security deposit. The loans offer liberal terms and competitive interest rates, a spokesman for SBT said.

Amounts of up to ₹100 lakh are sanctioned without collateral by providing cover under Credit guarantee Trust for Micro and Small Enterprises.

CREDIT GUARANTEE

Under this scheme, the bank provides guarantee fee for loans up to ₹50 lakh. Concession in interest rate is also available for contractors under various categories.

Online payment of tender fees and earnest money deposit is also made available through the Internet facility of the bank to all our current account customers.

More details can be had from www.statebankoftravancore.com or the nearest branch of the bank.