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LC Purchase Bill Discounting @ 6.00% Onwards

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LC Purchase Bill Discounting
Bank Name Min Interest Rate Document Handling Charge Discripency Charge
Axis Bank Ltd.
6.50% - 7.00%
1500
500
DCB Bank Ltd.
7.50% - 8.50%
1000
500
Digibank (DBS)
7.00% - 8.00%
1000
500
Federal Bank Ltd.
7.50% - 9.00%
500
1000
HDFC Bank Ltd
6.00% - 7.00%
500
1000
ICICI Bank Ltd.
6.00% - 7.00%
1000
500
IDFC First Bank
7.50% - 9.00%
500
1000
IndusInd Bank
7.50% - 9.50%
1000
500
kotak mahindra bank
6.00% - 7.00%
500
1000
RBL Bank Ltd.
7.50% - 8.50%
500
1000
South Indian Bank Ltd.
8.00% - 9.00%
1000
1000
YES Bank Ltd.
8.00% - 9.00%
1000
500
City Union Bank Ltd.
8.50% - 9.50%
500
1000
Bank of Baroda
6.50% - 7.50%
1000
1500
Bank of India
7.00% - 8.00%
1000
1500
Bank of Maharashtra
8.00% - 9.00%
1000
1500
canara
7.50% - 8.50%
1000
500
Central Bank of India
7.50% - 8.50%
1000
1500
IDBI Bank
7.50% - 8.50%
500
1000
Indian Bank
7.00% - 8.00%
500
1500
Indian Overseas Bank
7.50% - 9.00%
1000
1500
Punjab & Sind Bank
8.00% - 9.00%
1000
1500
Punjab National Bank
7.00% - 8.00%
1000
1500
State Bank of India
6.50% - 7.50%
1500
1000
UCO Bank
8.00% - 9.00%
1000
1500
Union Bank of India
7.50% - 8.50%
1500
1000
United Bank of India
8.00% - 9.00%
1500
1000
Bank Name Min Interest Rate
Axis Bank Ltd.

6.50% - 7.00%
DCB Bank Ltd.

7.50% - 8.50%
Digibank (DBS)

7.00% - 8.00%
Federal Bank Ltd.

7.50% - 9.00%
HDFC Bank Ltd

6.00% - 7.00%
ICICI Bank Ltd.

6.00% - 7.00%
IDFC First Bank

7.50% - 9.00%
IndusInd Bank

7.50% - 9.50%
kotak mahindra bank

6.00% - 7.00%
RBL Bank Ltd.

7.50% - 8.50%
South Indian Bank Ltd.

8.00% - 9.00%
YES Bank Ltd.

8.00% - 9.00%
City Union Bank Ltd.

8.50% - 9.50%
Bank of Baroda

6.50% - 7.50%
Bank of India

7.00% - 8.00%
Bank of Maharashtra

8.00% - 9.00%
canara

7.50% - 8.50%
Central Bank of India

7.50% - 8.50%
IDBI Bank

7.50% - 8.50%
Indian Bank

7.00% - 8.00%
Indian Overseas Bank

7.50% - 9.00%
Punjab & Sind Bank

8.00% - 9.00%
Punjab National Bank

7.00% - 8.00%
State Bank of India

6.50% - 7.50%
UCO Bank

8.00% - 9.00%
Union Bank of India

7.50% - 8.50%
United Bank of India

8.00% - 9.00%
₹
₹ 10L
₹ 50L
₹ 1C
₹ 1.5C
₹ 2C
₹ 2.5C
₹ 3C
%
1%
5%
10%
15%
20%
25%
30%
1
10
20
30
40
50

Loan EMI

₹

Total Interest

₹

Total Payment

₹

Eligibility Criteria

What you mean by LC Purchase bill Discounting Eligibility Criteria?

LC purchase bill 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 Purchase bill Discounting Eligibility Criteria

Usually, LC Purchase bill Discounting Eligibility Criteria depends on various factors like age of applicant, monthly salary or business income of co-applicant & residency.etc.

  • • Age Limit of Individuals – 22 to 65 years of age
  • • Good financial statement
  • • 750 above Credit score
  • • Nationality - Resident of Indian

What are the factors generally affecting LC Purchase bill Discounting Eligibility Criteria?

There are Top factors that generally affects LC Purchase bill Discounting Eligibility Criteria as given below: -

750 above credit score: - Try to maintain good financial track records as your past records indicate your future capabilities of repayment

What are the ways to increase LC Purchase bill Discounting eligibility?

To increase LC Purchase bill Discounting eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.

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. BRIEF HISTORY OF COMPANY
  11. COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION
  12. PARTY WISE SALES IN LAST 12 MONTHS
  13. RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS
  14. LATEST CUSTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORY ONES )
  15. FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE . THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE . AT LEAST 6 SETS (TRANSACTION ) RELATES TO DIFFERENT MONTHS FOR EACH PARTY
  16. 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.
  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
  14. BRIEF HISTORY OF COMPANY
  15. COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
  16. RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS
  17. LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES )
  18. FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE . THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE . AT LEAST 6 SETS (TRANSACTION ) RELATES TO DIFFERENT MONTHS FOR EACH PARTY
  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
  16. BRIEF HISTORY OF COMPANY
  17. COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
  18. RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS
  19. LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES )
  20. FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE . THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE . AT LEAST 6 SETS (TRANSACTION ) RELATES TO DIFFERENT MONTHS FOR EACH PARTY
  21. BRIEF HISTORY OF COMPANY
  22. COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
  23. RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS
  24. LATEST CUSTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORY ONES )
  25. FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE . THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE . AT LEAST 6 SETS (TRANSACTION ) RELATES TO DIFFERENT MONTHS FOR EACH PARTY
  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
  17. BRIEF HISTORY OF COMPANY
  18. COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
  19. RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS
  20. LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES )
  21. FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE . THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE . AT LEAST 6 SETS (TRANSACTION) RELATES TO DIFFERENT MONTHS FOR EACH PARTY
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CA Vikas Jain Our Mentor

Vikas Jain - Chief Advisor

Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...

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Vikas Jain - Chief Advisor

Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...

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