We also provide Buyers Credit. Buyers Credit is a loan taken by an importer (Buyer) from overseas lenders such as banks and other financial institutions to finance the purchase of capital goods or raw material.
**"Conditions Apply. Loan at sole discretion of the Bank”
Type of Loan :
Foreign currency fund based advance for customer arranged by TJSB Bank against its Letter of Undertaking (LOU/LUT)
Procurement of Capital goods (machinery) / raw material
Cash margin- As per Banks policy from time to time.
- Repayment :
i. For Capital Goods : 36 months (maximum)
ii. For raw material :12 months maximum (based on the operating cycle of the business of the importer borrower)
Rate of Interest : Linked with 6 months LIBOR
Commission & Usance charges : As per Banks policy from time to time.
Who can borrow :
Proprietorship, Partnership, Pvt. Ltd. & Public Ltd. Companies who are depend on the raw material which is required to be imported, as well as firm who wish to import machinery or capital goods for their business.
Prime Security :
Counter guarantee & charge on assets or against cash margin
Collateral Security :
If required, on case to case basis