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Gold Card Scheme for Exporters

 

1. Objectives of the Scheme Promotion of export by extending various facilities to exporters having good track record, on better terms.

2. Eligibility Criteria

  • All exporters including those in small and medium sectors and conforming to the borrower gradation category of CB1 and CB2
  • Exporter clients, with good track record for minimum 3 years
  • Accounts classified as `standard' during the last 3 financial years
  • Exporter clients earning profits continuously for the last 3 years, having positive tangible networth and positive net working capital as at the end of the last financial year.

However, exporters black-listed by ECGC or included in RBI Defaulters' List/ Caution List or having overdue export bill in excess of 10% of the current year's turnover will not be eligible.

3. Fixation of Credit Limits 'In-principle' limits will be sanctioned for a period of 3 years with a provision for automatic renewal subject to fulfilment of the terms and conditions of sanction and satisfactory conduct of the account subject to annual review. The performance of the exporters vis-a-vis projections will be reviewed annually with a view to decide whether the benefits of better terms and conditions under the Gold Card Scheme are to be continued/ amended/ withdrawn.

4. Rate of Interest : Concession by 25 bps on Rupee Export Credit

5. Tenure : The Gold Card will be issued initially for a period of 3 years, which shall be automatically renewed for a further period of three years unless there are adverse features/ irregularities in the account.

6. Adhoc Credit Limits : Upto 50% of sanctioned limit made available to facilitate urgent credit needs for executing sudden orders.

7. Special Concessions/ benefits for the Card Holders:

  • Preference for sanction of Packing Credit in Foreign Currency [PCFC].
  • Preference for granting loans under FCNR[B] funds etc. over non-export borrowers AND granting term loans in foreign currency in deserving cases out of FCNR[B], RFC Funds etc.
  • Proposals to be submitted in the simplified Application Form
  • The time-frame for disposal of application received for sanction of credit under the Scheme shall be as under: For disposal of fresh applications : 21 working days Renewal of limits : 14 working days Sanction of ad hoc limits : 7 working days

8. Service Charges : 20% concession in fees/charges

9. Additional Facilities: ATM, Internet Banking, International Debit Card, etc.

10. Gold Card sanctioned will be liable to be cancelled in the event the borrower fails to comply with any of the eligibility norms and other conditions of the Bank.

For additional details, please contact any of our branches.

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