Objective of the Scheme:
To offer export credit lines to eligible exporter with good track record at competitive terms and conditions with improved and efficient services.
If you are an exporter and have credit facility with Axis Bank, with a good track record, you would be eligible, provided you fulfil the following conditions. This will also apply if you are in the small and medium sectors.
A) Your account should have been classified as “Standard” continuously for three immediate preceding years. The overall conduct of the account should be satisfactory.
B) The names of your Company/Firm or any of your Director, Partner, and Promoter should not figure in RBI’s/CIBIL default list/ caution list and they should have been blacklisted by ECGC.
C) There should be no overdue in the export facility in Axis Bank as on the date of sanction of the facility.
D) Your company/firm should not have faced losses continuously for three immediately preceding years.
E) Your company/firm should not have any overdue export bills in excess of 10% of the current year’s turnover.
F) Excellent credit rating of the borrower.
Benefits to Exporter
A) You will get limits sanctioned in-principle for three years, with a provision for automatic renewal on yearly basis, provided your operations are found to be satisfactory and you comply with the terms and conditions of the sanction as stipulated by the bank.
B) Under Gold Card Scheme for exporters, you would be eligible for a standby limit of not less than 20% of the assessed limit, on request, for meeting any urgent credit needs. This may be utilised for executing sudden orders. In the case of exporters of seasonal commodities, the peak and off-peak levels may be appropriately specified.
C) You will be given priority for Packing Credit in Foreign Currency (PCFC), on request.
D) In case of an unanticipated export order, norms for inventory, such as holding level, margin etc., will be relaxed on case-by-case basis taking into account the size and nature of the export order.
E) Under Gold Card Scheme for exporters, you can enjoy 25% lower service charges as compared to regular exporters.
F) Bank would consider waiver of collateral and exemption from ECGC guarantee schemes on the basis of card holder's creditworthiness and track record.
G) The concession rate of interest in post-shipment rupee export credit applicable up to 90 days may be extended for maximum period up to 365 days.
Sanction under The Gold Card scheme for exporters will be granted for a period of 3 years with a provision of automatic renewal for a further period of 3 years provided no adverse features, irregularities are noticed in the account. In case of any misuse of the sanction or if it is observed that there has been any violation of the terms and conditions, the Bank shall have the right to recall the facility . The performance of the exporters will be reviewed on yearly basis to decide continuation/amendment/withdrawal of benefits to Gold Card Holder.
Sanction of Credit Limits:
The application for the credit will be processed faster than for other exporters. The Turnaround Time, for the date of receipt of credit limit application along with the requisite information/documents, for processing under Gold Card Scheme is given below:
A) Sanction of fresh/enhanced credit limit – 25 days.
B) Renewal of existing credit limits – 15 days.
C) Sanction of ad-hoc credit facilities – 7 days.
For Simplified Documentation, please contact nearest branch of the Bank.
For availing the product and to know more, please contact respective RM or visit nearest branch.