TRADE FINANCE

1 SALIENT FEATURES
  • The scheme is more customers friendly.
  • The scheme gives special consideration to those retailers and SSI units, who are not in a position to maintain detailed stock books and submit stock statements on monthly basis.
  • Secured overdraft upto Rs.3.00 lakh against the combined security of stock, collateral securities and mortgage of landed property is permitted.
  • Relaxations given for submission of stock statements/verification of stocks at longer intervals.
2 ELIGIBLE CUSTOMERS
  • Individuals, Businessmen, Traders, including SSI units, proprietorship/ partnership Firms, Companies floated by the persons / group of persons, commission agents and business enterprises established mainly for the purpose of providing any other services other than professional services are eligible to be covered under the scheme.
3 PURPOSE
  • To meet working capital requirements of Trading and Business Enterprises, including SSI units.
4 QUANTUM OF LOAN
  • OD limit upto and inclusive of Rs.3.00 lakh. Working capital in the form of Secured OVER DRAFT
  • Limit exceeding Rs.3.00 lakh, upto and inclusive of Rs.10.00 lakh. Working capital in the form of Secured OPEN CASH CREDIT.
  • TENABILITY PERIOD: Two years from the date of sanction.
  • SECURITY : Co-obligation and other securities shall be as per the existing norms and stipulations contained in this scheme.
  • INSURANCE :Stock and collaterals (building / machinery etc) shall be adequately insured.