E Dealer Finance Scheme

Business Current AccountsSME LoansSME Collection Products
Show More
SME Fixed DepositsSME Government SchemesApply OnlineAmazon PartnershipExternal Benchmark based Lending Rate(EBLR) for MSME LoansOnline Lead StatusContact Details of AGM SMEs
E Dealer Finance Scheme
Apply Now

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.

Features

  • Type of Facility Cash Credit
  • Quantum of loan (Min/Max)
    • Need Based.
    • Past Performance or Projected Sales, whichever is higher or
    • Limit Recommended by IM, whichever is Lower
  • Margin (%) : Nil. 100% finance to dealers
  • Pricing : Competitive Interest Rate Linked to MCLR
  • Collateral Security : Nil / Or up to 50% depending on each tie -up
  • Repayment Period : Credit period up to 90 days. Yearly renewal
  • Processing Fee/Upfront Fee : Minimum single unified charges comprising of Processing Fee, Inspection Charges ranging from Rs. 10,000 to Rs. 30,000/-

Eligibility Criteria

  • All Authorised dealers of Industry Majors with whom the Bank has tie-up arrangement

Other Conditions

  • 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.
  • Multiple Channel Repayment Option such as Cash, Cheque, Fund Transfer, NEFT, RTGS etc.
  • 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)

Apply Now

Last Updated On : Thursday, 02-01-2020

Interest Rates

6.70%* p.a.

w.e.f. 01.05.2021

*T&C Apply.

 

View All
SEE PRODUCTS APPLY NOW
Quick Links