FEATURES OF THE PRODUCT
Who are Eligible :
- All exporters, including those in small and medium sectors, having a good track record and credit worthiness depending on the credit Rating done as per bank's norms.
- The account should be "Standard" continuously for three years and should not be in the caution list of ECGC or RBI.
- However, export firms making losses for the past three years or having overdue export bills in excess of 10% of the current years' turnover are not eligible for Gold Card.
- Based on the credit needs of the exporter appropriate limits for both Pre-shipment/Post shipment will be sanctioned for a period of three years subject to annual review of account.
- A stand-by limit of not less than 20 percent of the assessed limit may be made additionally granted for facilitating urgent credit needs for executing sudden orders.
- Norms for inventory may be relaxed in case of unanticipated export orders, taking into account the size and nature of the export order.
Rate of Interest :
- Base Rate plus 0.75/1.00 % (as per internal credit rating) in case of Rupee Credit or LIBOR plus 350 bps for FC export credit.
- Concessional rate of interest is available on Post-shipment rupee export credit for 365 days as against the applicable period of 90 days at present.
Concession in Charges :
- 10% concession will be given to cardholders in commission and exchange.
- The Gold Card will be issued for a period of three years and will be renewed for a further period of 3 years unless any adverse/irregularities are noticed.
OTHER FEATURES :
Preference will be given for grant of PCFC.
For further details, please contact the Bank of Baroda Branch nearest to you.