Baroda Overdraft for E-commerce Business (Amazon)

Target group:

Sellers who are engaged in manufacturing/trading activities through the 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 the Amazon portal.

Type and period of facility:

Overdraft for 12 months

Limit:

Rs. 5 lakhs to Rs. 25 lakhs

Security:

Collateral free facility

At least 6 months of Business relationship

Interest rate & charges:

2.35% over BRLLR plus strategic premium

Management fee:

1.35%+GST p.a. of overdraft limit

Inspection charges:

Rs. 1,000 per visit + actual conveyance and out of pocket expenses

Not available

Documentation charges

Actual stamp charges to be borne by the applicant for documentation and other applicable charges as per the Bank’s 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 the Amazon platform.
• Hypothecation of stock lying under logistic arrangement with Amazon or in the godown of the merchant.

Repayment

• Overdraft will have a running limit, subject to review after 12 months. Payments from Amazon will be transferred into the merchant’s account that is being maintained with us.
• If the 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.