Hassle-free availability of export credit on best terms for creditworthy exporters with good track record
Eligibility criteria
(a) Our existing customers/new connections who fulfil the following criteria will be eligible for SBI Exporters Gold Cards: -
i. Accounts classified as ‘Standard Asset’ continuously for a period of last three years.
ii. No irregularities/ adverse features observed in the conduct of the accounts. However, occasional overdrawings should not be construed as an adverse feature.
iii. The exporter has not been blacklisted by ECGC and/or included in RBI defaulters’ list/caution list.
iv. The unit has not incurred losses during the past three years.
v. Overdue export bills of the unit are not in excess of 10% of the previous year’s turnover.
(b) Greenfield projects, may also be considered under the Scheme by the appropriate sanctioning authority on a case to case basis.
(c) In case of take-over of the account, the extant take over norms should be complied with, together with the other eligibility norms listed above.
Assessment of Credit Limit
i. Sanction and renewal of the limits under the Scheme is based on simplified procedure
ii. Standby limit of 20% will be sanctioned over and above the assessed fund based and non-fund based limits, to meet credit demands arising out of receipt of sudden orders etc.
Time Limit
Time frame for disposal of applications:
- For disposal of fresh applications : 25 days
- Renewal of limits : 15 days
- Sanction of ad hoc limits : 07 days
Rate of Interest
Competitive rate of Interest on Pre & Post Shipment Rupee/ Foreign Currency Export Credit.
Service Charges /ECGC Premium
Simplified Service Charges structure for Export Credit Customers. Based on value of account further concession in Service charges may be provided at the Bank’s discretion.
Exemption from ECGC guarantee in deserving cases at the Bank’s discretion.
Benefits to Exporters
Better terms of credit
Simplified Applications process
Faster processing of applications
Limits sanctioned for 3 years with renewal subject to fulfilment of the terms and conditions of sanction
Preference for grant of packing credit in foreign currency (PCFC)
Provision for concessions in Interest Rates
Standby limit for meeting exigencies
For details please contact SBI Forex/Trade Finance branch nearest to you.