Financing of receivables through bills discounting relating only to the products supplied by vendor to the concerned Corporate.
Selected vendors supplying to identified large Corporate borrowers of the bank
Minimum Rs. 25 lac and Maximum Rs. 5 cr
For SSI units- Turnover method up to limit of Rs. 5 cr
For others - Turnover method up to limit of Rs. 1 cr, and Flexible Bank Finance for above Rs. 1 cr
* Loans and deposits from family members may be treated as quasi equity for arriving at the TNW provided subordination is supported by undertaking in writing
· TOL/TNW - 4.00:1
Bill Discounting Scheme i.e. UBD.
Prime – DA bills drawn by Vendors duly pre-accepted by the corporate (with recourse to the vendor and Corporate in the event of dishonor)
Collateral– Tangible collateral security in the form of land, building, bank deposit etc. to cover at least 10% of the advance
Personal guaranteeof Promoters
MCLR + 4.15%
Updated as on 10.02.2017 (rate of interest is subject to revision from time to time)
On maturity of the bill
· Proof of identity (any of the following)
b. PAN Card
c. Employee identity card
d. Any other valid proof
· Proof of address (any of the following)
a. Electricity bill
b. Telephone bill
c. Ration card
· PAN card Etc.
· To download the application form, please click here
A. Under the scheme, credit facilities can be given by way of Bill discounting scheme (UBD) to the selected vendors supplying to identified Large Corporate borrowers of the Bank.
A. The finance extended under the scheme shall be minimum Rs.25.00 lacs and maximum Rs.5.00 crores.
A. No margin is required under the scheme.
A. Tangible collateral security in the form of land, building, bank deposit etc. are to be obtained to cover at least 10% of the advance which can be relaxed up to 5% on very selective basis.