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Trade Finance
Trade Finance (Working Capital Finance)
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Key Features
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Charges
Trade Finance : Key Features
Overdraft:
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This facility is offered in the form of fully secured/partially secured/on clean basis for business concerns for their working capital requirement
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Revolving facility available
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Operations similar to Current Account
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Interest application on daily product basis
Rate of Interest*:
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For advances against deposit - 1% over TDR rate (Refer to advances against bank’s own deposits under retails lending)
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For others - Linked with base rate
Trust Receipt:
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Loans offered to any medium traders, corporate for financing procurement of goods/material etc.
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Facility is allowed against bills drawn under sight Letter of Credit bills
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Maximum tenor is up to 90 days
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Facility given in AED
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Loan amount depending on sanction limit/individual transaction
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Floating rate of Interest linked to base rate
Bill Finance:
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Purchase of bills drawn under LC/outside LC
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Discounting of usance bills
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Purchase/Discounting of local cheques
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Rate of Interest: Fixed as well as floating rate of interest
Demand Loan:
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For any other general corporate purpose of short-term nature and other working capital requirement of a business concern
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No minimum tenor, but maximum tenor is 36 months
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Rate of interest: Depends on the security offered linked to Base Rate
*Terms: Rates and charges are subject to change from time to time
Trade Finance : Charges
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Rate of interest*: For advances against deposit - 1% over TDR rate (Refer to advances against banks own deposits under retails lending). For others - Linked with base rate
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*Terms: Rates and charges are subject to change from time to time
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What is trade finance and how can it benefit my business?
Trade finance encompasses a range of products and services that aid in managing risks associated with international trade. These include instruments like letters of credit, guarantees, and loans, designed to facilitate smooth cross-border transactions.
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What types of trade finance services does Bank of Baroda UAE offer?
- Bank of Baroda UAE provides various types of trade finance services to corporate and SME clients.
- Overdraft- It allows clients to withdraw funds within a specified maximum amount.
- Trust Receipt- It is a financial document used when a company receives goods but cannot pay until they are sold.
- Bill Finance- It helps companies manage cash flow through short-term financing.
- Demand Loan- It is available for clients to address urgent funding requirements.
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How do I apply for trade finance with Bank of Baroda UAE?
To apply for trade finance with Bank of Baroda UAE:
- Fill out an online application form for the desired trade finance product.
- Submit the necessary documents.
- Wait for the bank to review and process your application.
- Additional information or clarification may be requested during the procedure.
