| Bank Name | Eligible Loan Amount |
|---|
| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
Bank of Baroda
|
6% | 1% | 2500 | 6 |
|
|
Bank of India
|
6% | 1% | 2000 | 6 |
|
|
Bank of Maharashtra
|
7% | 1% | 2500 | 6 |
|
|
Canara Bank
|
8% | 1% | 2500 | 6 |
|
|
Central Bank of India
|
8% | 1% | 2000 | 6 |
|
|
Indian Bank
|
8% | 1% | 2000 | 6 |
|
|
Indian Overseas Bank
|
8% | 1% | 2000 | 6 |
|
|
Punjab & Sind Bank
|
7% | 1% | 2000 | 6 |
|
|
Punjab National Bank
|
8% | 1% | 2500 | 6 |
|
|
State Bank of India
|
8% | 1% | 2500 | 6 |
|
|
UCO Bank
|
8% | 1% | 2500 | 6 |
|
|
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Union Bank of India
|
8% | 1% | 2500 | 6 |
|
|
United Bank of India
|
7% | 1% | 5000 | 6 |
|
|
Axis Bank Ltd.
|
8% | 1% | 2500 | 6 |
|
|
Bandhan Bank Ltd.
|
9% | 1% | 5000 | 6 |
|
|
City Union Bank Ltd.
|
7% | 1% | 5000 | 6 |
|
|
DCB Bank Ltd.
|
6% | 1% | 2500 | 6 |
|
|
Digibank (DBS)
|
9% | 1% |
|
|
||
Federal Bank Ltd.
|
7% | 1% | 2500 | 6 |
|
|
HDFC Bank Ltd
|
8% | 1% | 5000 | 6 |
|
|
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ICICI Bank Ltd.
|
5.50% | 1% | 2500 | 6 |
|
|
IDFC First Bank
|
6% | 1% | 5000 | 6 |
|
|
IndusInd Bank
|
6% | 1% | 2500 | 6 |
|
|
Kotak Mahindra Bank
|
5% | 1% | 2500 | 6 |
|
|
RBL Bank Ltd.
|
5.50% | 1% | 2500 | 6 |
|
|
South Indian Bank Ltd.
|
6% | 1% | 5000 | 6 |
|
|
YES Bank Ltd.
|
7% | 1% | 2500 | 6 |
|
|
LC discounting are short-term facility is offered by banks which aid to reduces applicable charges levied on exporter bill invoice by purchasing the bills or documentation of exporter once he/she successfully done the required payment. However, you need to check criteria to avail this facility.
LC Discounting Eligibility CriteriaUsually, LC Discounting Eligibility Criteria depends on various factors like age of applicant, monthly salary or business income of co-applicant & residency..etc.
PHOTOGRAPHS 2
PAN CARD COPY
AADHAR CARD + PASSPORT
ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
PHOTOGRAPH BOTH
PAN CARD CLEAR COPY PROPRIETOR
ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
LAST 1 YEAR GST RETURN COPY
FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
PROVISIONAL FINANCIAL AY 2019-20
BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
PHOTOGRAPH PARTNERS
PAN CARD - COMPANY, ALL PARTNERS
ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
PARTNERSHIP DEED COPY
GST CERTIFICATE
GST RETURN LAST1 YEARS
3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
PROVISIONAL FINANCIAL AY 2019-20
3 YEAR ALL PARTNER INDIVIDUALS ITR + COMPUTATION
FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
ALL PARTNER SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
PROPERTY PAPERS COMPLETE CHAIN WITH MAP
ALL DIRECTORS PHOTOGRAPH
CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
ADDRESS PROOF – COMPANY AND DIRECTORS
LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IFAPPLICABLE)
GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
1 YEAR GST RETURNS
ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently asked questions (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.
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+
It considered to be good way to strengthen business liquidity.
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LC Discounting charges starting at 6.00% onwards.
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Any company whether it’s a proprietorship/private limited/partnership company. Business minimum continuity should be 5 years & turnover should be 100 crores.
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Through the facility seller get able to lower the risk & respectively increases payment guarantee.
This type of advance payment helps in getting working capital which enhance good quality took place as the cash flow of business is strong.
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Letter of Credit Discounting is an ideal way of financing. The various financial institution offers facility where it provides the guarantee of money be paid to seller if buyer default to pay the sum of amount.
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Usually, there are 5 types of Letter of Credit discounting as below given: -
CA Vikas Jain - Our Mentor
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