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Baroda Overdraft for E-Commerce Business

State-of-the-art

  • Online application and Online Sanction - No Branch Visit for Sanction of Limits
  • Reduced TAT – 3 to 5 days
  • Paperless Sanction
  • No EMI burden
  • Turnover Based Credit Limits
  • Collateral Free Credit Facility
  • Boosting NTC customers

Product Features

  • Target Group :Sellers who are engaged in manufacturing/trading activities through Amazon portal. Amazon identifies the eligible sellers based on their track record
  • Purpose :Working capital requirements for procurement/manufacturing/processing of goods/trading and receivables arising out of Amazon portal
  • Type and Period of Facility :Overdraft for 12 months
  • Limit :Rs.5 lakh to Rs.25 lakh
  • Security :Collateral free facility

Interest Rate & Charges


  • Interest rate & Charges : 2.35% over BRLLR plus strategic premium.
  • Management Fee: 1.35% p.a. of overdraft limit
  • Inspection Charges :Rs. 1000/- per visit + actual conveyance and out of pocket expenses

Other Terms and Conditions

    • Documentation Charges :Actual stamp charges to be borne by the applicant for documentation and other applicable charges as per Bank guidelines. (Depending upon state stamp duty rules)
    • CGTMSE Fee :CGTMSE payment of annual fee/renewal fee etc in eligible cases to be borne by the merchant.

Security

    • Hypothecation of receivables arising out of Amazon platform.
    • Hypothecation of stock lying under logistic arrangement with Amazon or in the godown of the merchant.

Repayment

    • Overdraft will be running limit subject to review after -12-months. Payments from Amazon into the Merchant’s account being maintained with us.
    • If above payment is not sufficient to service monthly interest then the borrower will have to deposit the amount for servicing of interest at the end of each month.

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