Bank of Baroda provides various types of funding/ services to the importers for facilitating the imports in the country. The vast network of Bank's overseas branches/ subsidiaries and Correspondent Banks worldwide facilitate prompt & efficient services to the importers. All the facilities are subject to the prevalent rules of the Bank/ RBI guidelines.
The various facilities provided are:
- Collection of import bill.
- Opening of Import L/Cs (Sight/ DA)
- Financing of import by way of Foreign Currency Loans
- Issuing Guarantees etc. on behalf of importers.
COLLECTION OF IMPORT BILLS:
The import bills are collected through the 131 authorised branches at very competitive rates. The Bank has correspondent relationship with reputed International Banks throughout the world and can provide the services to importers who may be importing from any part of the globe.
LETTER OF CREDIT:
Bank of Baroda offers L/C facility for the purchase of goods in the international market. Being a well-known international Bank of repute, the L/Cs of the Bank of Baroda are well accepted in the International market.
With the Letter of Credit of Bank of Baroda, importers can build up better trust/ confidence in their suppliers and develop other business relationship at a much faster pace.
The L/C facility can be granted to the importers after assessing their requirement/ credit worthiness/ financial strength and other parameters being to the satisfaction of the Bank.
Bank of Baroda on behalf of importers/ other customers issues guarantees in favour of beneficiaries abroad. The guarantees can be both Performance and Financial.
For further details, please contact the Bank of Baroda Branch nearest to you.