Boost Your Purchasing Power with Buyers Credit

Bank Name	Min Interest Rate	Max Loan (Lacs)	Letter of Undertaking charge	Max Tenure (Month)
HDFC Bank Ltd	5.10%	1500	1%	12
IndusInd Bank	5.00%	1500	1%	12
ICICI Bank Ltd.	5.50%	1000	1%	12
Axis Bank Ltd.	5.20%	1500	1%	12
Digibank (DBS)	5.10%	1500	1%	12
IDFC First Bank	5.00%	1500	1%	12
Kotak Mahindra Bank	5.15%	1500	1%	12
RBL Bank Ltd.	5.10%	1500	1%	12
YES Bank Ltd.	5.15%	1000	1%	12
South Indian Bank Ltd.	5.15%	1000	1%	12
Bandhan Bank Ltd.	5.00%	1000	1%	12
City Union Bank Ltd.	5.10%	1500	1%	12
DCB Bank Ltd.	5.15%	1000	1%	12
Federal Bank Ltd.	5.05%	1500	1%	12
Bank of Baroda	5.10%	1000	1%	12
Bank of India	5.00%	1000	1%	12
Bank of Maharashtra	5.00%	1500	1%	12
Canara Bank	5.00%	1500	1%	12
Central Bank of India	5.10%	1500	1%	12
Indian Bank	5.05%	1500	1%	1%
Indian Overseas Bank	5.10%	1500	1%	12
Karnataka Bank Ltd.	5.15%	1500	1%	12
Punjab & Sind Bank	5.20%	1500	1%	12
Punjab National Bank	5.00%	1500	1%	12
State Bank of India	5.10%	1500	1%	12
UCO Bank	5.00%	1500	1%	12
Union Bank of India	5.10%	1500	1%	12
United Bank of India	5.00%	1500	1%	12

Apply Now EMI Calculator Eligibility Criteria Documents Check List FAQs

Loan Amount is:

₹

₹ 10L

₹ 50L

₹ 1C

₹ 1.5C

₹ 2C

₹ 2.5C

₹ 3C

Interest Rate is:

10%

15%

20%

25%

30%

Loan Tenure is:

Yr Mo

Loan EMI

₹

Total Interest

₹

Total Payment

₹

// `); // setTimeout(() => { // w.print(); // }, 1000) // w.document.close(); // return false; // }); // share_doc.addEventListener('click', () => { // share_url.style.display = 'block'; // }); function drawChartCustom(one, selElem) { var data = google.visualization.arrayToDataTable([ ['Task', 'Hours per Day'], ['Principal', 100 - one], ['Interest', one], ]); // Optional; add a title and set the width and height of the chart var options = { 'title': 'Total Payment Break-up', 'width': 200, 'height': 175 }; // Display the chart inside the

element with id="piechart" document.getElementById(selElem).innerHTML = ''; var chart = new google.visualization.PieChart(document.getElementById(selElem)); chart.draw(data, options); // console.log('done'); } const calculate_pl = () => { const interest = parseFloat(pl_loaninterest.value) / 1200; const loantenure = pl_loanyears.checked ? 'Y' : 'M'; const months = loantenure === "M" ? 1 : 12; // let term = loan.loanDuration * months; let term = pl_loanterm.value * months; const top = Math.pow(1 + interest, term); const bottom = top - 1; const ratio = top / bottom; const loanamountValue = pl_loanamount.value.replace(/[^\d\.]/g, ""); const EMI = loanamountValue * interest * ratio; const Total = EMI * term; const EMI_data = { EMI: EMI.toFixed(0), Total: Total.toFixed(0), total_interest: (Total.toFixed(0) - loanamountValue).toFixed(0), }; pl_k_emi.innerText = EMI_data.EMI; pl_k_pay.innerText = EMI_data.Total; pl_k_int.innerText = EMI_data.total_interest; const noOfMonths = parseInt(term); let listHtml = ``; let pr_val = loanamountValue; for (let i = 0; i < noOfMonths; i++) { const int_amt = pr_val * (parseFloat(pl_loaninterest.value) / 100) / 12; const pri_amt = EMI - int_amt; const bal_amt = pr_val - pri_amt; listHtml += `${i+1}₹ ${pri_amt.toFixed(0)}₹ ${int_amt.toFixed(0)}₹ ${EMI.toFixed(0)}₹ ${bal_amt < 0 ? 0 : bal_amt.toFixed(0)}`; pr_val = pr_val - pri_amt; } pl_emi_list.innerHTML = listHtml; // console.log("EMI", EMI_data); // const a = EMI_data.Total; // const b = EMI_data.total_interest; // const c = parseInt((b / a) * 100); // drawChart(c); return EMI_data; }; const calculate_cl = () => { const interest = parseFloat(cl_loaninterest.value) / 1200; const loantenure = cl_loanyears.checked ? 'Y' : 'M'; const months = loantenure === "M" ? 1 : 12; // let term = loan.loanDuration * months; let term = cl_loanterm.value * months; const top = Math.pow(1 + interest, term); const bottom = top - 1; const ratio = top / bottom; const loanamountValue = cl_loanamount.value.replace(/[^\d\.]/g, ""); const EMI = loanamountValue * interest * ratio; const Total = EMI * term; const EMI_data = { EMI: EMI.toFixed(0), Total: Total.toFixed(0), total_interest: (Total.toFixed(0) - loanamountValue).toFixed(0), }; cl_k_emi.innerText = EMI_data.EMI; cl_k_pay.innerText = EMI_data.Total; cl_k_int.innerText = EMI_data.total_interest; const noOfMonths = parseInt(term); let listHtml = ``; let pr_val = loanamountValue; for (let i = 0; i < noOfMonths; i++) { const int_amt = pr_val * (parseFloat(cl_loaninterest.value) / 100) / 12; const pri_amt = EMI - int_amt; const bal_amt = pr_val - pri_amt; listHtml += `${i+1}₹ ${pri_amt.toFixed(0)}₹ ${int_amt.toFixed(0)}₹ ${EMI.toFixed(0)}₹ ${bal_amt < 0 ? 0 : bal_amt.toFixed(0)}`; pr_val = pr_val - pri_amt; } cl_emi_list.innerHTML = listHtml; // console.log("EMI", EMI_data); // const a = EMI_data.Total; // const b = EMI_data.total_interest; // const c = parseInt((b / a) * 100); // drawChart(c); return EMI_data; }; const updatePL = () => { const loanObj = calculate_pl(); // console.log('loanObj', loanObj); const total = loanObj.Total; const interest = loanObj.total_interest; const intPer = parseInt((interest / total) * 100); // console.log('intPer', intPer); drawChartCustom(intPer, 'pl_piechart'); }; const updateCL = () => { const loanObj = calculate_cl(); // console.log('loanObj', loanObj); const total = loanObj.Total; const interest = loanObj.total_interest; const intPer = parseInt((interest / total) * 100); // console.log('intPer', intPer); drawChartCustom(intPer, 'cl_piechart'); }; // pl_loanamount.addEventListener("keyup", updatePL); // pl_loaninterest.addEventListener("keyup", updatePL); // pl_loanterm.addEventListener("keyup", updatePL); // pl_loanyears.addEventListener("change", updatePL); // pl_loanmonths.addEventListener("change", updatePL); // cl_loanamount.addEventListener("keyup", updateCL); // cl_loaninterest.addEventListener("keyup", updateCL); // cl_loanterm.addEventListener("keyup", updateCL); // cl_loanyears.addEventListener("change", updateCL); // cl_loanmonths.addEventListener("change", updateCL);

Eligibility Criteria

What you mean by Buyer Credit Eligibility Criteria?

This type of facility is generally offered to importer for the purpose to finance their capital goods wherein overseas lender such as financial institutions aid to support them. These credits are preferred by international trading buyers as it provides the accessibility to purchase goods at lower rates as compared to purchasing via domestic. Lender finance to those buyers who purchase large order with minimal risk.

Buyer Credit Eligibility Criteria

Eligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover& Creditworthiness ...etc.

Eligibility Criteria

• Individual involved in importing & exporting of goods
• Compliance should be with applicable Trade as per Credit guidelines by their constituents.
• Person resident in India acting as an importer

Note: - You can avail up to 85% of contract value as a loan amount

What are the factors generally affecting Buyer Credit eligibility Criteria?

There are few factors that generally affects Eligibility Criteria as given below: -

Credit History: - Lenders are always ready to fund you, but the major reason for not funding all is that will you able to repay it? Therefore, they look at your past credit history to ensure you future commitments of repayment.So, if there any default payment found your eligibility level get lower.

Due to rejection of previous loan application: - As the factor itself cleared due to rejection of previous loan application, your new loan application gets affected as applying for multiple times, it will lower your credit score which led to reduces the eligibility chances.

What are the ways to increase Buyer Credit eligibility?

To increase loan against property eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level: -

Repay existing loan: - Lender check while going through your loan application that you are having any existing loan as it will reduces your debt-to-income ratio. Therefore, try to close it as much as earlier before applying for new loan.

Build a strong credit record: - A strong credit record helps you in getting loan easier & aid in evaluating credit risk, for that you are required to do payment on timely manner as it will enhance your eligibility.

Documents Required

INDIVIDUAL

PHOTOGRAPHS 2
PAN CARD COPY
AADHAR CARD + PASSPORT
ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
PROCESSING FEE CHEQUE IN FAVOUR OF BANK
LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER

PROP FIRM

PHOTOGRAPH BOTH
PAN CARD CLEAR COPY PROPRIETOR
ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
LAST 1 YEAR GST RETURN COPY
FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
PROVISIONAL FINANCIAL AY 2019-20
BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS WITH CHAIN SANCTION MAP

PARTNERSHIP FIRM

PHOTOGRAPH PARTNERS
PAN CARD - COMPANY, ALL PARTNERS
ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
PARTNERSHIP DEED COPY
GST CERTIFICATE
GST RETURN LAST 1 YEARS
3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
PROVISIONAL FINANCIAL AY 2019-20
3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
ALL PARTNER SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH MAP

PVT.LTD

ALL DIRECTORS PHOTOGRAPH
CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
ADDRESS PROOF – COMPANY AND DIRECTORS
LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
1 YEAR GST RETURNS
ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP

FAQs

Frequently asked questions (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.

Who issues backend Buyers Credit (SBLC)?

It is issued by importer bank on behalf of importer to get funding from Overseas Bank.

What importer banks will assure in Buyers Credit?

Importer banks will take responsibility for the money to be paid in case importers fail to make payment to exporters.

What is the cost involved in Buyers Credit?

Generally, Interest Rates are common cost applicable on any loan with that other cost are involved such as LIBOR rates, SWIFT charges & issuing SBLC charges.

Do Overseas Banks require KYC Process?

Yes, it's important Overseas Banks used to follow this process as per its norms, one needs to complete this KYC process.

What is Buyers Credit?

It's a short-term loan offered to buyers from overseas banks to purchase goods at lower rates compared to usual rates. Even exporters are guaranteed their payment will be paid on time without any default taking place.

What are the benefits of Buyers Credit?

This facility enables buyers to purchase goods at a lower rate with an extending date of making payment to exporter. Also, buyer get the chances to negotiate better discounts & avail the credit facility.

How Buyers Credit works on?

Importers enter into agreement with suppliers for import goods wherein financial institutions play an important role in providing a line of credit with Overseas Banks to help. Overseas banks pay directly to supplier before the due date & the buyer pay to Overseas Bank as per the commitments.

How to apply Buyers Credit online?

It's easy to apply just submit your request letter through online or offline by nearest bank & fill the application form with correct values, make sure you carry all the necessary documents.

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Buyers Credit @5.00% Onwards

Buyers Credit