Financing purchases of dealers through Buyer's Bill discounting, relating only to products supplied by the concerned corporate.
Selected authorized dealers of identified large Corporate borrowers of the Bank.
Minimum Rs. 25 lac and Maximum Rs. 5 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
Bills Discounting Scheme in the account of the dealer (Buyer's UBD) drawn by the corporate.
INTEREST RATE :-
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 in the account of the dealer (Buyer UBD) drawn by a Corporate to selected authorized dealers of 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 30% of the advance which can be relaxed up to 25% on very selective basis.