i-Prompt MSME Renewal
Overview
Another digital transformational initiative of IDBI Bank for our MSME entrepreneurs. Renewal of Working Capital facility /Review of Term Loan made simpler through the Bank’s website in a faster and convenient mode. The journey enables application submission, document upload and real-time tracking of application.
Features
| Sanction Process | It will be end to end digital process . |
| Security | The existing securities will continue |
| Target Clientele | All existing MSME customers |
| Facility Offered | Cash Credit/OD/TL |
| Amount | Above Rs. 10 Lakh up to Rs 50 Lakhs |
| Tenure | 12 Months |
Advantages
The i-Prompt MSME Renewal is an initiative designed to provide quick and easy access to credit for MSMEs leveraging their GST registration and transaction data.
Documents Required
All ETB (Existing to Bank) MSME-NSRA accounts having valid GST Registration and valid Udyam Registration Certificate.
Business Entity / Borrower should have valid GST return i.e. GSTR-1, GST 3B for latest 12 months and/or GSTR-4 of latest Quarter.
How to Apply
1
Apply with existing IDBI bank account number upload latest ITR, and provide GST details through GSTN consent.
2
System automatically verifies identity, income, and business revenue.
3
Loan eligibility is assessed through automated processing.
4