E Vendor Finance Scheme

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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

6.80%* p.a.

w.e.f. 01.01.2021

*T&C Apply.

 

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