Interest Rate on Pre Shipment Credit

Interest Rate on Pre Shipment Credit

What is pre–shipment?  

Interest rate on pre-shipment credit stands for a loan or grant, or any other credit provided by a bank to an exporter for financing the purchase, processing, manufacturing, or packing of goods prior to shipment, based on the letter of credit opened in his r or in favor of some other person, by an overseas buyer or a confirmed and irrevocable order for the export of goods from India or any other evidence of an order for export from India having been placed on the exporter or some other person unless lodgments of export orders or letter of pre shipment credit inr with the bank have been waived.

Here we have mentioned the minimum interest rates from numerous banks. It will help you to choose the best interest rate on pre-shipment credit.  

Banks                                                Interest rates(min.)

Axis Bank Ltd.                                           7.50%,

Bandhan Bank Ltd.                                   7.80%

Bank of Baroda                                         7.50%

Bank of India                                             8.00%

Punjab National Bank                               7.75%

Federal Bank Ltd.                                      7.80%

HDFC Bank Ltd                                          7.80%

ICICI Bank Ltd.                                           7.75%

Union Bank of India                                   8.15%

IDFC First Bank                                          7.75%

State Bank of India                                     8.10%

United Bank of India                                   7.75%

UCO Bank                                                    7.75%

To avail of a pre-shipment credit, you can visit financeseva official website. We provide various other products with a minimum interest rate and some additional benefits also.

Posted in Business News on September 13 at 11:16 AM

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