We discount bills drawn by our customer against reputed buyers and pay him immediately to meet his short term requirement from the date of sale to date of realization.
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Key points / Documents required:-
- The bill of exchange arising out of genuine trade transaction duly accepted by the Drawee.
- Receipted Challan/Excise Gate pass evidencing dispatch and receipt of goods in duplicate.
- Copies of Invoice & Purchase Order.
- Documents of title of goods that is Lorry receipt/ railway receipt etc.
- If the bill is delayed, the borrower or his customer pays the Bank a pre-determined interest depending upon the terms of transaction.
- Collateral security required as per Banks Prescribed norms.
- Service charges as applicable.
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For Interest rate Click Here
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| For more details, write into us at loans[at]abhyudayabank[dot]net , and Abhyudaya Co-op Bank will get back to you. |