Export Packing Credit

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Export Packing Credit
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Purpose

For purchase of raw materials, processing, packing, transportation and warehousing of goods meant for export,It has two essential features,VIZ:
Existence of an export order and / or letter of credit and
liquidation of the packing credit by submission of export documents within a stipulated perio

Features

  • Nature of Facility Pre-shipment finance extended as working capital.
  • Target Group : Manufacturers as well as merchant exporters, are eligible to avail Rupee Packing Credit at concessional rate of interest.
  • Quantum of loan (Min/Max) : Need based Finance
  • Margin (%) The percentage of margin is determined depending on the nature of order, commodity, capability of exporter, etc. keeping in view the spirit behind RBI guidelines for liberal finance to the export
  • Pricing : Competitive Pricing
  • Collateral Security : As applicable in case of Cash Credit / Working capital limits)
  • Repayment Period : The period for which the Bank gives packing credit depends on the manufacturing / trade cycle or specific requirements of the individual export, normally not exceeding 180 days.
  • Processing Fee/Upfront Fee : As applicable to cash Credit Facility/Working Capital Limits

Eligibility Criteria

  • Existing Customer already availing credit facilities from us.
  • New units.
  • Takeover of existing units from other Banks/ FIs with satisfactory track record. (Credit information report to be obtained)

Other Conditions

  • Since packing credit loans are concessional and purpose oriented, it will be necessary to ensure proper end use of amounts disbursed to the exporters.
  • ECGC- Bank’s export credit portfolio (pre-shipment or Packing Credit) is insured under Export Credit Insurance for Banks Guarantee Scheme (ECIB WTPC of ECGC Ltd. Premium cost will be borne by bank for those rated ‘A’ and above.

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Last Updated On : Saturday, 21-08-2021

Interest Rates

8.40%* p.a.

w.e.f. 01.09.2023

*T&C Apply.

 

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