• 9863020202    
  • contact@financeseva.in

Sale Bill Discounting @11.00% Onwards

Bill discounting is an arrangement whereby the seller recovers an amount of sales bill from the financial intermediaries before it is due. Such intermediaries charge a fee for the service.
Enquiry Form
sale bill discounting
Bank Name Interest Rate Range (%) Processing Fees Max Tenure Foreclosure Charge
kredx
16.00% - 18.00%
1%
6
2
SBI Global Factors Limited
10.00% - 13.00%
1%
6
2
IFCI Limited
11.00% - 14.00%
1%
6
2
Bank Name Key Features
kredx
Interest rate

16.00% - 18.00%

Fore closure charge

2

SBI Global Factors Limited
Interest rate

10.00% - 13.00%

Fore closure charge

2

IFCI Limited
Interest rate

11.00% - 14.00%

Fore closure charge

2

Customer Services Logo
Enquire Us
Any Queries? We are there to help you. (contact@financeseva.in)
Customer Services Logo
Customer Support
Questions ? You are only a call away. (+919863020202)
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 is Sale Bill Discounting?

Sale Bill discounting is the practice of using company's unpaid Sale Bills to raise working capital & fulfil its financial needs. Traditionally, financial institutions including banks and NBFCs have been discounting Sale Bills for MSMEs.

How does it work?

Finance seva provides a marketplace/platform for business owners to sell and investors to purchase Sale Bills raised on blue chip companies. It combines the best in class technology experience with credit underwriting & data analytics capabilities to create a brand new investment asset class.Business-owners looking for advance on their Sale Bills, raised on blue chip/creditworthy institutions, can use our platform to sell these unpaid Sale Bills at attractive rates. 


 

What is the eligibility criteria for businesses?

Any business that supplies goods/services to large blue-chip companies can avail the bill discounting services provided by Finance seva. Eligibility and amount of discounting is governed by the creditworthiness of the business and therefore they should be willing to share their financial information and other related documents.

Does Finance seva have an upper sanction limit?

We have no upper limit for sanctioned amounts for your Sale Bills and it is solely dependent on the business’s requirements.

Will Finance seva’s Sale Bill discounting facility affect my balance sheet?

No. We offer a zero-liability bill discounting service. Since the working capital is availed using Sale Bills, it bears no impact on your balance sheet.

Will my financial information be shared with other third parties?

Finance seva is a ISO 27001:2013 certified private entity that deals with secure information from our clients. The ISO certification is further validation of the high standards we follow.

What is the Finance seva TDS Payment Policy for business?

All Sale Bills listed on the Finance seva platform on behalf of the business are purchased by our network of investors. The benefits accrued through this instrument is an income for these investors and hence, attract a TDS of 10% as per the IT ACT, Government of India, under Section 194A.

As per our TDS Payment Policy, Finance seva will deduct the TDS amount due from the total payment but not deposit the TDS amount on behalf of the business’s Company. Partners will be required to deposit the respective TDS liabilities.&nbs

What happens if Finance seva goes out of business?

Finance seva in collaboration with their partner bank has facilitated opening of an escrow account for each individual member. All transfer of funds happen through these escrow accounts. In case of liquidation of Finance seva due to any financial/legal reason, money in member's escrow account will be returned to the respective owners immediately. Money involved in the process will not be transferred to Finance seva's account at any stage (except service fees and government taxes, etc.).

 

Popular sale bill discounting Lenders

kredx
SBI Global Factors Limited
IFCI Limited

Subscribe to our Newsletter

09863-02-02-02