Funding against SBLC
Overview
Short term lending against SBLC issued by banks having counter party Limits available with IDBI Bank. This product will cater to the funding needs of both retail clients as well as to the corporates /other eligible entities in line with internal guideline of the Bank.
Key Features
| Features | Details |
|---|---|
| Eligible borrower | All eligible Retail and Corporate Entities in line with Credit Policy of the Bank |
| Type of facility | Fund based facility backed by SBLC of authorized counter party banks |
| Currency | USD & EURO |
| Internal / External Rating | Not Required as per Extant Credit Policy as the Credit Rating of the Counterparty Applies. |
| Tenure | 12 Months (within the Original SBLC Maturity Period) |
| Processing fees | Nil |
| Default event | In the event of any default, penal interest @0.50% over and above exiting ROI |
Advantages
- Simple credit appraisal with minimum TAT, no hidden cost for the client and low probability of default;
- Simplified documentation;
- Timely sanction & disbursement and ensuring best industry practices;
- Limit is available for working capital, capex & personal purposes.
How To Apply
Get a Funding against SBLC 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