Syndicate Bank, the Indian finance group, has announced a series of ‘softer’ loan terms to exporters with good track records.
Under the bank’s SyndExport Gold Card scheme, exporters that have demonstrated a track record of ‘satisfactory dealings’ will receive finance at 25 basis points lower than the rate charged on pre-shipment credit.
In addition, the bank is making a concessional rate on its post-shipment credit by extending the soft loan term from 90 days to 365 days.
Special rates would also be offered on the processing of credit facilities, which the bank claims would be 25 per cent lower than what it charges non-eligible exporters.
Source: India Today
