Bank offers LC Bill discounting facility to it's existing customers against local LCs issued by acceptable scheduled / commercial Banks in India, restricted for negotiation with our bank.
** "Conditions Apply. Loan at sole discretion of the Bank."
Repayment:
Self liquidating
Margin :
As per Bank's Credit policy
Maximum Loan Amount Limit : Rs 13.75 Crore subject to Bank's Exposure Norm
Minimum Loan Amount Limit :
Need Based
Eligibility :
Individuals, Proprietorship, Partnership, Pvt. Ltd., Public Ltd and LLP
Security - Prime
Accepted bills backed by LC which is restricted to us. Confirmation of LC opening Bank is required.
Security - Collateral :
Nil
Subscription to Bank's Share - Membership:
2.5 % of Loan amount (Max Rs 5.00 Lac per entity)
Processing fee :
Nil, handling charges as applicable and prevalent as on date.
Guarantors
Two Guarantors acceptable to Bank.
As Applicable.
In adherence with RBI Notification no. DoR.MCS.REC.28/01.01.001/2023-24 dated 18/08/2023,
Penal charges for delay in payment of interest/ instalment , non-compliance or delay in compliance of critical terms of sanction and takeover of loan by other bank/
NBFC would attract penal charges @ 3.25% on the sanction amount in case of Working Capital limit and on the outstanding amount in case of term loan limit.
