Online application & sanction
No branch visit required
Reduced TAT
Paperless sanction
No EMI burden
Turnover based credit limits
Collateral free credit facility
Boosting NTC customers
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Baroda Overdraft for E-commerce Business (Amazon/Flipkart)
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Benefits
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Features
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Eligibility
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Interest rates & charges
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Document Required
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Most Important Terms and Conditions (MITC)
Baroda Overdraft for E-commerce Business (Amazon/Flipkart) : Benefits
Baroda Overdraft for E-commerce Business (Amazon/Flipkart) : Features
Assessment based on Turnover from Amazon/Flipkart and Flipkart sales.
Target group:
Sellers who are engaged in manufacturing/trading activities through the Flipkart portal. Flipkart 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 Flipkart portal.
Type and period of facility:
Overdraft for 12 months
Limit:
Rs. 5 lakhs to Rs. 25 lakhs
Security:
Collateral free facility
Baroda Overdraft for E-commerce Business (Amazon/Flipkart) : Eligibility
Sellers in Amazon/Flipkart platform and having at least 6 months of business relationship
Baroda Overdraft for E-commerce Business (Amazon/Flipkart) : Interest rates & charges
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
Baroda Overdraft for E-commerce Business (Amazon/Flipkart) : Document Required
Proprietorship
- Bank Statement 6 months
- GST Certificate
- Pan Card of proprietor
Partnerships/LLP
- Bank Statement from
- GST Certificate
- Pan Card of firm
- Pan Car of partners
- Partnership Deed
Private Limited
- Bank Statement 6 months
- GST Certificate
- Pan Card of firm
- Pan Card of director
If the registered address and the business address are different, please provide an address proof for the Business Address as well.
Baroda Overdraft for E-commerce Business (Amazon/Flipkart) : Most Important Terms and Conditions (MITC)
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 platform.
- Hypothecation of stock lying under logistic arrangement with Amazon/Flipkart or in the godown of the merchant.
Repayment
- Overdraft will have a running limit, subject to review after 12 months. Payments from Amazon/Flipkart will be transferred into the merchant’s loan 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.
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What is e commerce business loans?
E-Commerce business loans is an Overdraft facility provided to Amazon/Flipkart merchants
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Who can borrow e-commerce loan?
Merchants registered and doing business on Amazon/Flipkart platforms can avail the e-commerce loan
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How do I apply for the ecommerce loan?
Merchants can apply for E-Commerce loan through the Lender portal provided by the Amazon/Flipkart platform
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What documents are required for ecommerce financing/loans?
The documents required for ecommerce financing / loans are:
- 6 months Account statement
- GST certificate
- Pan Card of the Firm,Propreitor/Partners/Directors
- Proof of Business address
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How much ecommerce loan can a seller get?
Seller can get a Ecommerce loan with a Maximum limit is 25.00 lacs
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How to select the right e-commerce loan?
Selection to be based on the amount ,Interest rate and Tenor
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Can small businesses apply for the loans too?
Sellers registered in Amazon/Flipkart and doing active business can apply for the loan
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Is there any collateral required for such ecommerce business loans?
No collateral required as per the scheme for ecommerce business loans
