E Dealer Finance Scheme

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E Dealer Finance Scheme
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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

Features

  • Target Group : authorised Dealers/stockiest/distributors/franchisees
  • Facilities Available :  Cash Credit
  • Quantum of loan  Need based
    • Past Performance or Projected Sales, whichever is higher or
    • Limit Recommended by IM, whichever is Lower.
  • Pricing :
    • Competitive Interest Rate Linked to EBR(Repo rate+2.65%) (For MSME Borrowers)/MCLR(Non MSME Borrowers)
  • Borrower’s Margin / Contribution : Nil
  • Repayment Period
    • Credit period up to 90 days. Yearly renewal
  • Processing Fee/ Upfront Fee : Minimum single unified charges comprising of Processing Fee, Inspection Charges, Equitable Mortgages Charges, and facility fee ranging from Rs. 10,000 to Rs. 30,000/-
  • Other Charges Nil
  • Special Feature :
    • The transactions take place on a web based platform without branch intervention

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)

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Last Updated On : Thursday, 08-02-2024

Interest Rates

8.25%* p.a. onwards

w.e.f. 15.02.2025

*T&C Apply.

 

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