FAQs

What is WBFC ?

A state level financial institution catering to the financial needs of all industries as well as those of service sectors on easy and tailor-made terms. Yours may be a micro, small or medium scale industry/service sector, existing or proposed - anywhere in the state of West Bengal.

For what is the loan granted ?

You can avail of loans for acquiring land, building, plant & machinery, electrical equipment, miscellaneous fixed assets, furniture, etc. as also for meeting a portion or the whole of the working capital requirement of your enterprise.

Who can apply for the loan ?

Any individual, partnership firm, corporate body or registered co-operative society.

How much loan does wbfc grant ?

Up to Rs 10.00 crore per project, if you are a corporate body or a registered co-operative society. For others it is Rs. 4.00 crore. Under special circumstances the limits may go up to Rs. 20.00 crore and Rs.8.00 crore, respectively.

What is the rate of interest ?

Interest rates are as follows.The stated rates may undergo changes from time to time, as may be directed by the competent authority.

From when is the interest calculated ?

From the date of disbursement of the loan and on the actual amount disbursed.

When are the interests payable ?

On 30 June, 30 September, 31 December and 31 March every year, during the tenure of the loan.

Repayment period ?

Long (Maximum : 10 years) and tailor-made, according to the nature, size, repayment capacity of your project as also the quantum of the loan.

When does the repayment start ?

Normally after 6 to 24 months form the date of first disbursement of the loan, in quarterly instalments. In certain cases it starts after six months.

How is the quantum of loan determined ?

The loan quantum depends, primarily, on the project cost. It ranges between 50% to 75% of the project cost, depending on the size and nature of the project, category and financial strength of the borrower, repayment capacity of the project,risk factors etc.

What is project cost ?

The total cost of fixed assets viz., land, building, machinery, electrical, furniture, preliminary expenses etc. together with the margin money required for working capital requirement constitute the project cost.

Who finances the rest of the project cost ?

The promoters, and this is known as promoters' contribution.

Is the loan disbursed in one stroke ?

Depends on the situation. Normally the loan is disbursed in stages with the progress of implementation of the project and in proportion with the quantum of promoters' contribution raised.

What are the securities to be offered against the loan ?

Depending on the category and purpose of the loan, the fixed and/or the current assets created shall be mortgaged and/or hypothecated in favour of the Corporation, having first charge in its favour.

Is any additional cash security required ?

Apart from the personal guarantee of the owners of the enterprise, a small amount of cash security in the form of pledging of NSCs / KVPs/ Bank FDs / LIC policies or mortgage of landed property may be insisted upon- depending upon various aspects like risk factor etc. - as a percentage of the loan sanctioned. Such percentage shall, however, vary from case to case.

When are the securities released ?

On full liquidation of the loan along with interest and other costs thereon

What are the activities eligible for getting loan ?

Any type of industrial or service sector activity (excluding trading), including hotels, nursing homes, transport, commercial complex, infrastructure, consultancy services, floriculture, and a host of others.

Is there any prepayment fee ?

Yes.

What are the fees payable ?

An one time payment @ 0.50% p.a of the amount of loan sanctioned is payable as commitment, legal and processing fee @ 0.50% and legal-cum-service charges @ 0.40%.

The first step you need to take for getting a loan.

Prepare a project report and call on us at any of our branch offices (we have one for each district) or at the HO at 12A Netaji Subhas Road, 3rd and 4th floors, Kolkata 700001.

Who to call on at WBFC ?

The General Manager ( Operations ) at HO or the Branch Managers at the branch offices.

Will WBFC mind if we call your officers to our office ?

WBFC would be glad to discuss any loan proposal right with you at its state offices. However should circumstances warrant, we may also call on you.

How long does it take for getting the sanction ?

Every endeavor, with your active cooperation, shall be taken to sanction the loan in the quickest possible time.


Loan limitInterest rate for repayment period <= 6 yearsInterest rate for repayment period > 6 years
Loans upto Rs. 5 lakh 10.25% 10.50%
Loan above Rs. 5 lakh & upto Rs. 25 lakh 11.25% 11.50%
Loan above Rs.25 lakh 12.75% 13.00%
Additional interest on schemes not covered under refinance that will be charged extra over and above the corresponding rate where refinance is available. 1.00% 1.00%
Penalty in the event of any default in payment of the dues, on the default amount for the period of default that will be charged additionally in the loan account(s). 2.00% 2.00%

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