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Pre Shipment Credit (INR)

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Pre Shipment Credit: interest rate on pre shipment credit (INR)
Bank Name Interest Rate Range (%) Processing Fee (%) Maximum Loan (Lacs) Maximum Tenure (Month)
Canara Bank
6%
Neogrowth
10
2
32
12
Bank Name Key Features
Canara Bank
Interest rate

6%

Max loan amount

Neogrowth
Interest rate

10

Max loan amount

32

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  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
Frequently Asked Questions

What are the types of Pre shipment credit INR ?

Types of Pre Shipment Credit :- 

  • Packing Credit 

  • Advance against Cheques/Draft etc. representing Advance Payments. 

  • Preshipment finance is extended in the following forms : 

  • Packing Credit in Indian Rupee 

  • Packing Credit in Foreign Currency (PCFC) 

What are the eligibility Criteria for Pre shipment credit INR ?

Pre shipment credit INR is only issued to that exporter who has the export order in his own name. However, as an exception, financial institution can also grant credit to a third party manufacturer or supplier of goods who does not have export orders in their own name. 
 
In this case some of the responsibilities of meeting the export requirements have been out sourced to them by the main exporter. In other cases where the export order is divided between two more than two exporters, pre shipment credit ca

How does bank disburse Pre-Shipment Finance?

Bank may release Pre Shipment Finance either in lump sum or in stages based on the requirements of exporter with satisfaction by bank against execution of export order. Bank maintains separate account for Packing Credit /Pre shipment finance to monitor the period of sanction of such pre shipment loan and end use of amount. The various stages of processing, manufacturing is monitored by bank by maintaining a separate account to ensure that the outstanding balance in accounts are adjusted by transfer from one account to the othe

What happens, if export bills not submitted after availing pre shipment finance?

As per bank guidelines, exporter is required to submit export documents with bank after export takes place. If pre shipment advances are not adjusted by submission of export documents within 360 days from the date of advance, the advances will cease to qualify for prescribed rate of interest for export credit to the exporter. The commercial interest rate is charged from the date of disbursement of pre shipment finance. Refinance is provided by Reserve Bank for a maximum period of 180 days with permission. 

What is EPC and Pcfc?

Export Packing Credit (EPC)/ Packing Credit in Foreign Currency (PCFC). 

Calculators
Popular Pre Shipment Credit: interest rate on pre shipment credit (INR) Lenders

Canara Bank
Neogrowth
9863-02-02-02