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January 23, 2020

 Pre-shipment Export Credit facility

  • It is a short term loan extended to customers engaged in export business for purchase of raw material, processing, warehousing, packing, transporting the finished goods to shipment.
  • The facility can be granted to customers engaged in export sector and able to present receipts of export proceeds at least USD 300,000 or equivalent currencies, or engaged in viable business at least for two years or offer collateral.
  • The advance rate ranges from 70% to 90% depending on type of goods to be exported.
  • The facility is availed to the maximum of one year and the lending interest rate is 7.5%.
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