• 9863020202    
  • contact@financeseva.in
Letter of Credit@ 1.00% per annum commission interest Onwards
Importers and exporters normally require intermediaries such as banks or alternative financiers to guarantee payment and also the delivery of goods. Cash advances or trade credits on open accounts are usually used after the buyer and seller develop a trusted relationship. Therefore trade finance structures are used to support these relationships.
Enquiry Form
Letter of Credit
Bank Name FD Margin Commission
25.00%
2.00%-3.00%
15.00%
1.00%-2.00%
20.00% - 25.00%
2.00%-3.00%
15.00%
1.00%-2.00%
15.00%
1.00%-2.00%
20.00%
2.00%-3.00%
15.00%
2.00%-3.00%
20.00%
2.00%-3.00%
25.00%
2.00%-3.00%
20.00% -25.00%
2.00%-3.00%
20.00%
2.00%-3.00%
20.00%
2.00%-3.00%
15.00%
1.00%-2.00%
15.00%
1.00%-2.00%
20.00% -25.00%
2.00%-3.00%
15.00%
2.00%-3.00%
15.00%
2.00%-3.00%
25.00%
2.00%-3.00%
25.00%
2.00%-3.00%
25.00%
2.00%-3.00%
15.00%
1.00%-2.00%
25.00%
2.00%-3.00%
20.00%
2.00%-3.00%
20.00%
2.00%-3.00%
15.00%
2.00%-3.00%
20.00%
1.00%-2.00%
15.00%
1.00%-2.00%
15.00%
1.00%-2.00%
20.00%
2.00%-3.00%
20.00%
2.00%-3.00%
15.00%
2.00%-3.00%
15.00%
1.00%-2.00%
15.00%
2.00%-3.00%
15.00%
1.00%-2.00%
Bank Name Key Features
Interest rate

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FD Margin

25.00%

Interest rate

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FD Margin

15.00%

Interest rate

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FD Margin

20.00% - 25.00%

Interest rate

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15.00%

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FD Margin

20.00%

Interest rate

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15.00%

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20.00%

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FD Margin

25.00%

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FD Margin

20.00% -25.00%

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FD Margin

20.00%

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FD Margin

20.00%

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FD Margin

15.00%

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15.00%

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FD Margin

20.00% -25.00%

Interest rate

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15.00%

Interest rate

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15.00%

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FD Margin

25.00%

Interest rate

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FD Margin

25.00%

Interest rate

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FD Margin

25.00%

Interest rate

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FD Margin

15.00%

Interest rate

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FD Margin

25.00%

Interest rate

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FD Margin

20.00%

Interest rate

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FD Margin

20.00%

Interest rate

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FD Margin

15.00%

Interest rate

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FD Margin

20.00%

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FD Margin

15.00%

Interest rate

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FD Margin

15.00%

Interest rate

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20.00%

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20.00%

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15.00%

Interest rate

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FD Margin

15.00%

Interest rate

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FD Margin

15.00%

Interest rate

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FD Margin

15.00%

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Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. Photographs 2
  2. PAN Card Copy
  3. AADHAR CARD + PASSPORT
  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING
  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR
  3. ADD PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR.
  4. OFFICE ADDRESS PROOF LATEST. (ELECTRICITY BILL, TELEPHONE BILL)
  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  6. LAST 1 YEAR GST RETURN COPY
  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.
  10. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  12. AGREEMENT TO SELL COPY
  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADD PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
  4. FIRM ADD PROOF- LATEST ANY UTILITY BILL.
  5. PARTNERSHIP DEED COPY
  6. GST CERTIFICATE
  7. GST Return last 1 years
  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED.
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH.
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED.
  14. Agreement To Sell copy
  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
  1. ALL DIRECTORS PHOTOGRAPH
  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
  3. ADDRESS PROOF – COMPANY AND DIRECTORS.
  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  5. MEMORANDOM
  6. ORDER IN HAND AND COMPLETE COPY (if applicable)
  7. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE.
  8. 1 YEAR GST RETURNS
  9. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS.
  10. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE.
  11. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  12. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED.
  13. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH.
  14. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
  15. AGREEMENT TO SELL COPY
  16. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions

What is a Letter Of Credit?

A letter of credit is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. Due to the nature of international dealings, including factors such as distance, differing laws in each country, and difficulty in knowing each party personally, the use of letters of credit has become a very important aspect of international trade

Funding a Letter of Credit?

Banks typically require a pledge of securities or cash as collateral for issuing a letter of credit. Banks also collect a fee for service, typically a percentage of the size of the letter of credit. The International Chamber of Commerce Uniform Customs and Practice for Documentary Credits oversees letters of credit used in international transactions.

Types of Letters of Credit?

A commercial letter of credit is a direct payment method in which the issuing bank makes the payments to the beneficiary. In contrast, a standby letter of credit is a secondary payment method in which the bank pays the beneficiary only when the holder cannot. A revolving letter of credit lets the customer make any number of draws within a certain limit during a specific time period. 

What bank are the letters of credit issued from?

Most factories will accept a letter of credit; that is up to your factory and their needs. Some factories choose to take a letter of credit so they can borrow against it to cover raw materials while others request one so they are guaranteed to be paid upon performance. Finance Seva will help you speak with your factory to determine how to best fund your purchase orders.

Will my factory accept a letter of credit?

Most factories will accept a letter of credit; that is up to your factory and their needs. Some factories choose to take a letter of credit so they can borrow against it to cover raw materials while others request one so they are guaranteed to be paid upon performance. Finance Seva will help you speak with your factory to determine how to best fund your purchase orders.

Do you do back-to-back letters of credit?

Yes. Back-to-back letters of credit are a great tool to secure a transaction from start to finish while maintaining anonymity and security between your buyer and seller.

Popular Letter Of Credit Lenders

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