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Purchase Bill Discounting @11.00% Onwards

• Get access to business cash flow
• No impact on balance sheet
• Quick processing
Enquiry Form
Purchase Bill Discounting
Bank Name Processing Fees Interest Rate Foreclosure Charge
OfBusiness
1%
18.00% -20.00%
2
State Bank of India
1%
8.00% - 9.50%
2
IndusInd Bank
1%
10.00% - 11.00%
2
kredx
1%
18.00% - 20.00%
2
Bank Name Min Interest Rate
OfBusiness

18.00% -20.00%

State Bank of India

8.00% - 9.50%

IndusInd Bank

10.00% - 11.00%

kredx

18.00% - 20.00%

₹ 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 Purchase bill discounting Eligibility Criteria?

When you are facing trouble in managing business cash flow due to lack of stuck bill, get use of collateral free working capital for day-to-day business operational expenses, where you just need to pay some percentage of actual payment as a fee to lender.

Purchase bill discounting Eligibility Criteria

  • • Sales order must be raised by the concerned customers
  • • Invoice must be raised by the customer for the specific payment pending
  • • Must mention the exact date of outstanding payment to be made
  • • Minimum existence of business should be 10 months
  • • Credit score above 650
  • • Age Limit of Individuals – 24 to 65 years of age

Note: - You can avail Up to 90% of actual invoice receivable as a loan amount.

What are the benefits of availing Purchase bill discounting?

Never wait for unpaid invoice payment to take place, As the fail to meet new projects chances increases, unleash the power of invoice discounting It would be a great way to generate business cash flow on immediate basis.

Immediate access to cash flow: - If you’re getting multiple new projects at the same time when you’re existing invoice payment doesn’t taken place, at that time you require immediate fund to work on those new projects, wherein bill discounting is the only ways of acquiring funds.

Nil effect on balance sheet: - Many of us have fake illusions that by acquiring bill discounting it will effect on balance sheet, but on reality there is no such thing happens even not a single effect take places on balance sheet as borrowing this facility is totally off sheet counted.

Effortless obtaining: - Getting purchase invoice discounting is more effortlessly accessible than compared to other loans application process where you required to fill form & go through various domentation procedures to avail loan, but invoice discounting feature allows you to get fund in very effortless manner.

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 PARTY WISE SALES IN LAST 12 MONTHS
  12. RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS
  13. LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES )
  14. 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
  15. 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
  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
Frequently Asked Questions

What are the document required for lc discounting?

  • Bill of exchange 
  • Commercial invoice and packing list 
  • Transport documents 
  • Delivery challan 
  • Acceptance from issuing bank 
  • Discounting request letter

Is getting a lc discounting is good or bad?

It considered to be good way to strengthen business liquidity.

What is lc discounting?

Letter of credit discounting is an ideal way of financing. The various financial institution offers facility where it provides the guarantee of money be paid to seller if buyer default to pay the sum of amount.

What is the current interest rates of lc discounting?

LC discounting charges starting at 6.00% onwards.

How letter of credit discounting works on?

Sellers request a letter of credit from buyer before the goods get delivered, seller wants the guarantee of money to pay on time without any default. Follow Below mentioned workflow of lc discounting: - 

  • Buyers approach the issuing bank to get LC 
  • Seller used to submit required document to get discount 
  • As per the terms money should be used to order or purchase goods only 
  • Finally, the amount will be credited

What are the types of lc discounting?

Usually, there are 5 types of letter of credit discounting as below given: - 

  • Revocable 
  • Irrevocable 
  • Transferable 
  • Confirmed 
  • Unconfirmed 

What are the key features of letter of credit discounting?

Through the facility seller get able to lower the risk & respectively increases payment guarantee. 

This type of advance payment helps in getting working capital which enhance good quality took place as the cash flow of business is strong.

Who are eligible for lc discounting?

Any company whether it’s a proprietorship/private limited/partnership company. Business minimum continuity should be 5 years & turnover should be 100 crores.

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