FEATURES OF THE PRODUCT

Who are Eligible :

1. 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.
   
   
2. The account should be "Standard" continuously for three years and should not be in the caution list of ECGC or RBI.
   
   
3. 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.

LIMITS

1. 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.
   
   
2. 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.
   
   
3. 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 :

1. 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.
   
   
2. 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.
  
  

Tenor :

• 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.