We offer working capital financing products with value added features. Working Capital products include both fund-based and fee-based products. Fund-based working capital products include cash credit, overdraft, bill discounting, subscription to commercial paper, short-term loans, export financing (post-shipment as well as pre-shipment), medium term loans, preference shares, non-convertible debentures (both fixed and floating rate). Fee based products include documentary credit and bank guarantees.
Working Capital facilities are provided to the industry to finance the day-to-day production and sales. For production, funds are generally required for purchase of raw material, stores, fuel, for payment to labor, power charges etc., for storing finished goods till they are sold out and for financing the sales by way of sundry debtors / receivables.
The Bank offers short-term loans for a period ranging from 3 months to 12 months to sound corporates for augmenting their working capital requirements. The funds are provided with interest rates either linked to its PLR or at a fixed rate with varying repayment patterns, to meet temporary shortfall in working capital, arising out of delay in realisation of receivables or to hold excess inventory for execution of extra orders.
The bank offerings also include long-term working capital loans upto 5 years. All loans for tenures above one year are generally secured by first charge on fixed assets or current assets of the borrower with an acceptable asset cover.
This product enables corporates to fund their operating cycle right from the stage of procurement to sale.
Export Credit – Pre-shipment & Post-shipment
We provide export finance in Domestic & Foreign currency to the corporates having global operators.