Trade Finance

Overdraft:

• This facility is offered in the form of fully secured/partially secured/on clean basis for business concerns for their working capital requirement

• Revolving facility available

• Operations similar to Current Account

• Interest application on daily product basis
  

Rate of Interest*:

• For advances against deposit - 1% over TDR rate (Refer to advances against bank’s own deposits under retails lending)

• For others - Linked with base rate
  

Trust Receipt:

• Loans offered to any medium traders, corporate for financing procurement of goods/material etc.

• Facility is allowed against bills drawn under sight Letter of Credit bills

• Maximum tenor is up to 90 days

• Facility given in AED

• Loan amount depending on sanction limit/individual transaction

• Floating rate of Interest linked to base rate
  

Bill Finance:

• Purchase of bills drawn under LC/outside LC

• Discounting of usance bills

• Purchase/Discounting of local cheques

• Rate of Interest: Fixed as well as floating rate of interest
  

Demand Loan:

• For any other general corporate purpose of short-term nature and other working capital requirement of a business concern

• No minimum tenor, but maximum tenor is 36 months

• Rate of interest: Depends on the security offered linked to Base Rate
  

*Terms: Rates and charges are subject to change from time to time

• 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

• *Terms: Rates and charges are subject to change from time to time