ELECTRONIC DEALER FINANCE SCHEME (E-DFS)
100% FINANCE TO DEALERS ON 100% ELECTRONIC PLATFORM
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Parameters |
Features |
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Nature of Facility |
Cash Credit |
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Purpose |
To provide hassle free finance to authorised exclusive Dealers/stockiest/distributors/franchisees (hereinafter called “dealers”) of Industry Majors (IMs) for purchase of Inventory who are willing to furnish Collateral Security of adequate value. |
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Eligibility Criteria |
All Authorised dealers of Industry Majors with whom the Bank has tie-up arrangement |
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Quantum of loan (Min/Max) |
Need Based.
Past Performance or Projected Sales, whichever is higher
Or
Limit Recommended by IM, whichever is Lower |
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Margin (%) |
Nil. 100% finance to dealers |
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Pricing |
Competitive Interest Rate Linked to MCLR |
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Collateral Security |
Nil / Or up to 50% depending on each tie -up |
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Repayment Period |
Credit period up to 90 days. Yearly renewal |
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Processing Fee/Upfront Fee |
Minimum single unified charges comprising of Processing Fee, Inspection Charges ranging from Rs. 10,000 to Rs. 30,000/- |
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Other Conditions |
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Transactions are done on Internet Banking Platform of the bank (no cheque book required) & which results in easy, convenient & hassle free banking facilities to all stake holders i.e. Bank, IM & Dealer.
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Multiple Channel Repayment Option such as Cash, Cheque, Fund Transfer, NEFT, RTGS etc.
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Transaction through 2 methods i.e. PULL METHOD (When the Industry Major makes a request for debit in the dealer’s account) & PUSH MODEL (When the dealer originates the remittance)
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