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Packing Credit Limit @2.00% Onwards

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Packing Credit Limit
Bank Name Min Interest Rate Processing Fee Max Loan (Lacs) Max Tenure (Month)
Bank of Baroda
8.00%
1%
Bank of India
9.00%
1%
Bank of Maharashtra
10.00%
1%
Canara Bank
8.00%
1%
Central Bank of India
9.00%
1%
Indian Bank
10.00%
1%
Indian Overseas Bank
8.00%
1%
Punjab & Sind Bank
9.00%
1%
Punjab National Bank
10.00%
1%
State Bank of India
8.00%
1%
Union Bank of India
10.00%
1%
United Bank of India
8.00%
1%
UCO Bank
9.00%
1%
Axis Bank Ltd.
8.00%
1%
Bandhan Bank Ltd.
9.00%
1%
City Union Bank Ltd.
10.00%
1%
DCB Bank Ltd.
8.00%
1%
Federal Bank Ltd.
9.00%
1%
HDFC Bank Ltd
10.00%
1%
ICICI Bank Ltd.
8.00%
1%
IDFC First Bank
9.00%
1%
IndusInd Bank
10.00%
1%
Kotak Mahindra Bank
8.00%
1%
RBL Bank Ltd.
9.00%
1%
South Indian Bank Ltd.
10.00%
1%
YES Bank Ltd.
8.00%
1%
Bank Name Min Interest Rate
Bank of Baroda

8.00%

Bank of India

9.00%

Bank of Maharashtra

10.00%

Canara Bank

8.00%

Central Bank of India

9.00%

Indian Bank

10.00%

Indian Overseas Bank

8.00%

Punjab & Sind Bank

9.00%

Punjab National Bank

10.00%

State Bank of India

8.00%

Union Bank of India

10.00%

United Bank of India

8.00%

UCO Bank

9.00%

Axis Bank Ltd.

8.00%

Bandhan Bank Ltd.

9.00%

City Union Bank Ltd.

10.00%

DCB Bank Ltd.

8.00%

Federal Bank Ltd.

9.00%

HDFC Bank Ltd

10.00%

ICICI Bank Ltd.

8.00%

IDFC First Bank

9.00%

IndusInd Bank

10.00%

Kotak Mahindra Bank

8.00%

RBL Bank Ltd.

9.00%

South Indian Bank Ltd.

10.00%

YES Bank Ltd.

8.00%

₹ 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 Packing credit limit Eligibility Criteria?

Packing credit are similar to pre-shipment, this type of facility is utilized by exporter to finance for purchasing raw material, processing, working capital & expanding their business. You can avail loan against stock of raw material & for ready to shipment materials.

Packing credit limit Eligibility Criteria

Eligibility Criteria depends on several factors like repayment history, business sales/turnover& Creditworthiness ...etc.

Eligibility Criteria

  • • Mid & large corporate
  • • Only business involved in exporting are eligible
  • • Minimum turnover of corporate should be 500 Cr
  • • Must have good credit history

What are the factors generally affecting Packing credit limit Eligibility Criteria?

There are top factors that generally affects packing credit eligibility criteria as given below: -

Due to outstanding Debt: - Lender check whether you are paying debt to any existing loan, if you are then make sure you clear it earlier before planning to avail a new loan.

Any fault on CIBIL Report: - CIBIL report represent your past financial history, you are required to ensure whether details depicted are correct or any fault seems like appearing then immediately contact lender to make it corrected through CIBIL. Report containing fault led to reflect eligibility.

What are the ways to increase Packing credit limit eligibility?

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

Maintain good credit record: -To maintain good credit record you are required to ensure that all payments are made on time which is effective for letting it better. Apart from that consider to do minimal usage of credit card as these will enhance your loan edibility.

Extra attention on credit card utilization: - Credit card utilization is the indicator of your credit usage, generally 30% ratio of utilization considered to secure from affecting credit history, this aid to boost credit score as well as the eligibility too.

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. ADDRESS 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
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
  4. FIRM ADDRESS 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 ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
  6. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
  7. 1 YEAR GST RETURNS
  8. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
  9. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
  10. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  11. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
  12. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
  14. AGREEMENT TO SELL COPY
  15. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions

What Is the Rate of Interest on Packing Credit Limit funds?

The Rate of Interest on Packing Credit Limit is 1.50%.

When I have to repay Packing Credit Limit fund?

You have to repay Packing Credit Limit I over 6month.

How can I get Packing Credit Limit funds?

Packing Credit Limit you can take from Private or Government.

What are the documents required for Packing Credit Limit funds?

Some document required for Pre Shipment Credit: - 

  • Packing list
  •  Invoice
  • Performa invoice
  • Shipper's Letter of Instruction
  • Certificate of origin

What is Packing Credit Limit?

Packing Credit means loan provided by the banks to an exporter for financing the purchase, processing, manufacturing or packing of goods before shipment at fair rate.

Who is Eligible for Packing Credit Limit?

  • Your age should be- 25 to 65 years
  • Merchant exporters
  • Manufacturer exporters
  • This facility only availed by those exporters who has order on his own name
  • Some institutions fund for third party manufacturers who don’t have export on their own name.

Related Topics

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business Credit Report
Improve Credit Report
Get Financial Statement

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