| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
Bank of Baroda
|
5.00% | 0.25% | 1500 | 12 |
|
|
Bank of India
|
5.20% | 0.25% | 1500 | 12 |
|
|
Bank of Maharashtra
|
5.25% | 0.25% | 1000 | 12 |
|
|
Canara Bank
|
5.30% | 0.25% | 1000 | 12 |
|
|
Central Bank of India
|
5.25% | 0.25% | 1500 | 12 |
|
|
Indian Bank
|
5.30% | 0.25% | 1000 | 12 |
|
|
Indian Overseas Bank
|
5.00% | 0.25% | 1500 | 12 |
|
|
Punjab & Sind Bank
|
5.20% | 0.25% | 1000 | 12 |
|
|
Punjab National Bank
|
5.30% | 0.25% | 1500 | 12 |
|
|
State Bank of India
|
5.00% | 0.25% | 1000 | 12 |
|
|
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Union Bank of India
|
5.15% | 0.25% | 1000 | 12 |
|
|
United Bank of India
|
5.25% | 0.25% | 1500 | 12 |
|
|
UCO Bank
|
5.40% | 0.25% | 1500 | 12 |
|
|
Axis Bank Ltd.
|
4.75% | 0.50% | 1500 | 12 |
|
|
Bandhan Bank Ltd.
|
4.80% | 0.50% | 1000 | 12 |
|
|
City Union Bank Ltd.
|
4.90% | 0.50% | 1000 | 12 |
|
|
DCB Bank Ltd.
|
4.80% | 0.50% | 1500 | 12 |
|
|
Federal Bank Ltd.
|
4.95% | 0.50% | 1500 | 12 |
|
|
HDFC Bank Ltd
|
4.75% | 0.50% | 1000 | 12 |
|
|
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ICICI Bank Ltd.
|
4.75% | 0.50% | 1500 | 12 |
|
|
IDFC First Bank
|
4.80% | 0.50% | 1000 | 12 |
|
|
IndusInd Bank
|
4.85% | 0.50% | 1500 | 12 |
|
|
Kotak Mahindra Bank
|
4.75% | 0.50% | 1500 | 12 |
|
|
RBL Bank Ltd.
|
4.90% | 0.50% | 1500 | 12 |
|
|
South Indian Bank Ltd.
|
4.80% | 0.50% | 1000 | 12 |
|
|
YES Bank Ltd.
|
4.90% | 0.50% | 1500 | 12 |
|
|
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 CriteriaEligibility Criteria depends on several factors like repayment history, business sales/turnover& Creditworthiness ...etc.
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.
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
PROCESSING FEE CHEQUE IN FAVOUR OF BANK
LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
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)
6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS WITH CHAIN SANCTION MAP
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 LAST 1 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
AGREEMENT TO SELL COPY
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 (IF APPLICABLE)
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
AGREEMENT TO SELL COPY
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.
+
The Rate of Interest on Packing Credit Limit is 1.50%.
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You have to repay Packing Credit Limit I over 6month.
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Packing Credit Limit you can take from Private or Government.
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Some document required for Pre Shipment Credit: -
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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.
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CA Vikas Jain - Our Mentor
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