Buyer’s Credit
Overview
Short term lending to Importer customer on the basis of Demand Bank Guarantee / SBLC from Authorized Counterparty Bank(s) within the operating cycle of the customer for CAPEX and NON CAPEX transactions. It is a fund based facility.
Key Features
| Features | Details |
|---|---|
| Eligible borrower | Person resident in India acting as an importer. |
| Type of facility | Fund based facility backed by TCBG/SBLC of authorized counter party banks |
| Currency | USD & EURO |
| Amount of assistance | Up to USD 150 million or equivalent per import transaction for oil/gas refining & marketing, airline and shipping companies. For others, up to USD 50 million or equivalent per import transaction. |
| Tenure | The period of TC, reckoned from the date of shipment, shall be up to three years for import of capital goods. For non-capital goods, this period shall be up to one year or the operating cycle, whichever is less. For shipyards / shipbuilders, the period of TC for import of non-capital goods can be up to three years. |
| Processing fees | Nil |
| Default event | In the event of any default, penal interest @4% over and above exiting ROI |
Advantages
- Competitive rate of interest.
- Applicant gets access to funding from international markets and multiple locations.
- Quick processing and turnaround of transactions.
- Meeting the business requirement of the importer by arranging timely funding in foreign currency.
- Available against TCBG/SBLC of other Bank within counter party bank limits.
How To Apply
Get a Buyer’s Credit in 3 easy steps.
01. Get in touch
Call On
079-66759928
E-mail -
ibugiftcity@idbi.co.in
02. Visit Our Branch
Visit the IBU Gift City or any other branch of IDBI Bank.
Find the Nearest Branch