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Non fund based lending, where the lending bank does not commit any physical outflow of funds. Bharat Bank also offers Non-Fund Based facility such as Bank Guarantee & Letter of Credit
Bank Guarantee is generally the Non Fund Based Credit Limits sanctioned by the Bank. Bank shall issue Bank Guarantees on behalf of its constituents favouring 3rd parties guaranteeing to make payment of a specified sum of amount to the beneficiary on demand/claim.
What is the Purpose of this Loan?
To meet the business needs and to make payment of a specified sum of amount to the beneficiary on demand/claim.
Who can avail for this Loan?
Any Business Entity {Proprietorship, Partnership, Pvt Ltd Company etc.}
Types of Guarantees Issued
- Financial &Performance Guarantee
- Bid Bond Guarantee
- Earnest Money Deposit Guarantee etc.
Period for Bank Guarantee
Bank Guarantee shall not exceed 10 years from the date of issue.
Letter of Credit, is non-funded facility shall be granted to parties who are enjoying credit facilities with the Bank. Bank shall open LCs for parties who are not enjoying any credit facility only after making proper enquiries in regard to the antecedents of the borrowers from the Bankers with whom the parties are enjoying main limits, their financial position and the ability to retire the bills.
What is the Purpose of this Loan?
For Purchase and Import of Raw materials and also purchase of Capital Assets, Equipment’s and machineries.
Who can avail for this Loan?
Any Business Entity {Proprietorship, Partnership, Pvt Ltd Company etc.}
Types of Guarantees Issued
- Inland Letter of Credit
- Import Letter of Credit