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Pre Shipment Credit (INR)

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Pre Shipment Credit (INR)
Bank Name Min Interest Rate Processing Fee Max Loan (Lacs) Max Tenure (Month)
Bank of Baroda
1%
1%
Bank of India
1.5%
1%
Bank of Maharashtra
1%
1%
Canara Bank
1.5%
1%
Central Bank of India
1%
1%
Indian Bank
1.5%
1%
Indian Overseas Bank
1%
1%
Punjab & Sind Bank
1.5%
1%
Punjab National Bank
1%
1%
Punjab National Bank
1.5%
1%
State Bank of India
1%
1%
UCO Bank
1.5%
1%
Union Bank of India
1%
1%
United Bank of India
1.5%
1%
Axis Bank Ltd.
1%
1%
Bandhan Bank Ltd.
1.5%
1%
City Union Bank Ltd.
1%
1%
DCB Bank Ltd.
1.5%
1%
Digibank (DBS)
1%
1%
Federal Bank Ltd.
1.5%
1%
HDFC Bank Ltd
1%
1%
ICICI Bank Ltd.
1.5%
1%
IDFC First Bank
1%
1%
IndusInd Bank
1.5%
1%
Bank Name Min Interest Rate
Bank of Baroda

1%

Bank of India

1.5%

Bank of Maharashtra

1%

Canara Bank

1.5%

Central Bank of India

1%

Indian Bank

1.5%

Indian Overseas Bank

1%

Punjab & Sind Bank

1.5%

Punjab National Bank

1%

Punjab National Bank

1.5%

State Bank of India

1%

UCO Bank

1.5%

Union Bank of India

1%

United Bank of India

1.5%

Axis Bank Ltd.

1%

Bandhan Bank Ltd.

1.5%

City Union Bank Ltd.

1%

DCB Bank Ltd.

1.5%

Digibank (DBS)

1%

Federal Bank Ltd.

1.5%

HDFC Bank Ltd

1%

ICICI Bank Ltd.

1.5%

IDFC First Bank

1%

IndusInd Bank

1.5%

₹ 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 Pre shipment credit INR Eligibility Criteria?

Pre-shipment facility allow you to get fund for expanding export growth just through the aid of trade receivable. It works as a working capital assistance for the purpose to procure raw material, processing & manufacturing of goods quality until the shipment takes place.

Pre-shipment finance Eligibility Criteria

Eligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover& Creditworthiness ...etc.

Eligibility Criteria

  • • Age Limit of Individuals - 25 to 65 years
  • • Merchant exporters
  • • Manufacturer exporters
  • • This facility only availed by those exporter who has order on his own name
  • • Some institutions fund for third party manufacturers who don’t have export on their own name
  • • Exporter should not be in the caution list of Reserve Bank of India (RBI).

What are the factors generally affecting Pre shipment credit INR Eligibility Criteria?

There are top factors that generally affects pre-shipment finance eligibility criteria as given below: -

Not being an Exporter: - Pre-shipment facility only can be obtained if you meet the mandatory requirements of being a exporter. Therefore, being not an exporter, you fail to meet the criteria.

Exporter should not be in the caution list of RBI: - An exporter would be caution- listed by the Reserve Bank based on the recommendations of the AD bank concerned, depending upon the exporters track record with the AD bank and investigative agencies. The AD bank would make recommendations in this regard to the Regional Office concerned of the Foreign Exchange Department of the Reserve Bank in case the exporter has come to the adverse notice of the Enforcement Directorate (ED) / Central Bureau of Investigation (CBI) / Directorate of Revenue Intelligence (DRI) /any such other law enforcement agency and/or the exporter is not traceable and/or is not making sincere efforts to realise the export proceeds.

What are the ways to increase Pre shipment credit eligibility?

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

pen account with preferred lenders: - OThis considered to be the best way to increase eligibility, by opening a bank account with your preferred lender 1 year earlier of availing loan will build trust to lender & a good financial history help them to know your creditworthiness.

Must hold Import & Export code no: - For any person doing import & export needs to get IEC Code on mandatory basis. As if you already owned it, then it shows how legally you are following the protocol & even enhances your eligibility strength to get finance.

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

How can I get Pre Shipment Credit funds?

Pre-shipment credit loan you can take from Private or Government.

What Is the Rate of Interest on Pre Shipment Credit funds?

The Rate of Interest on Pre Shipment Credit is 0.75%.

When I have to repay Pre Shipment Credit fund?

You have to repay Pre Shipment Credit fund over 6month.

Who is Eligible for Pre Shipment Credit?

  • 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.

What are the documents required for Pre Shipment Credit funds?

Some document required for Pre Shipment Credit: -

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

What is Pre Shipment Credit INR?

Pre Shipment means loan provided by the banks to an exporter for financing the purchase, processing, manufacturing or packing of goods before shipment.

Related Topics

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