E Vendor Finance Scheme

Business Current AccountsSME LoansSME Collection Products
Show More
SME Fixed DepositsSME Government SchemesApply OnlineAmazon PartnershipExternal Benchmark based Lending Rate(EBLR) for MSME LoansSBI Exporters’ Gold Card SchemeOnline Lead Status
E Vendor Finance Scheme

Purpose

Financing receivables of recommended vendors of reputed Corporates/ Industry Majors (IMs). Completely web based solution with minimal branch intervention and provides instant credit to vendors account electronically

Features

  • Type of Facility : Cash Credit (Clean)
  • Target Group : Vendors of reputed Industry Majors/ Corporates with whom the Bank has tie-up arrangement
  • Quantum of loan (Min/Max) : Need Based
  • Margin (%) : Nil
  • Pricing : Competitive Pricing Linked to MCLR
  • Collateral Security : Nil
  • Repayment Period : According to tenor of the receivables.
  • Processing Fee/Upfront Fee : Rs. 10,000 to Rs. 50,000/-

Eligibility Criteria

  • Existing borrowers of Bank with continuously making profit for last 3 yr
  • Minimum Turnover Size for IM: Rs. 500 Cr and above
  • External Rating: A & above/Internal Rating SB-7 & above (If SBI customer)
  • IMs total vendor base at least 50
  • Outstanding Sundry Creditors not to exceed three months purchase
  • Industry Scenario to be considered / RMD guidelines will be referred

Other Conditions

  • Transactions are done on Internet Banking Platform of the bank (no cheque book required) & which results in easy, convenient & hassle free banking facilities to all stake holders i.e. Bank, IM & Dealer.
  • Multiple Channel Repayment Option such as Cash, Cheque, Fund Transfer, NEFT, RTGS etc.
  • There are 2 variants under e-VFS:
    • Vendor Exposure: Financing will be made to the vendors against the supply of goods/services to reputed Corporates/IMs.
    • IM Exposure: Financing will be made to the reputed corporate/IMs for payment towards the supply received from their vendors.

Interest Rates

7.90% p.a.

 

*T&C Apply.

 

View All
SEE PRODUCTS APPLY NOW
Quick Links