ELECTRONIC DEALER FINANCE SCHEME (E-DFS)

100% FINANCE TO DEALERS ON 100% ELECTRONIC PLATFORM

Parameters Features
Nature of Facility Cash Credit
Purpose To provide hassle free finance to authorised exclusive Dealers/stockiest/distributors/franchisees (hereinafter called “dealers”) of Industry Majors (IMs) for purchase of Inventory who are willing to furnish Collateral Security of adequate value.
Eligibility Criteria All Authorised dealers of Industry Majors with whom the Bank has tie-up arrangement
Quantum of loan (Min/Max) Need Based.
Past Performance or Projected Sales, whichever is higher
Or
Limit Recommended by IM, whichever is Lower
Margin (%) Nil. 100% finance to dealers
Pricing Competitive Interest Rate Linked to MCLR
Collateral Security Nil / Or up to 50% depending on each tie -up
Repayment Period Credit period up to 90 days. Yearly renewal
Processing Fee/Upfront Fee Minimum single unified charges comprising of Processing Fee, Inspection Charges ranging from Rs. 10,000 to Rs. 30,000/-
Other Conditions
  • Transactions are done on Internet Banking Platform of the bank (no cheque book required) & which results in easy, convenient & hassle free banking facilities to all stake holders i.e. Bank, IM & Dealer.
  • Multiple Channel Repayment Option such as Cash, Cheque, Fund Transfer, NEFT, RTGS etc.
  • Transaction through 2 methods i.e. PULL METHOD (When the Industry Major makes a request for debit in the dealer’s account) & PUSH MODEL (When the dealer originates the remittance)