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Interest rates (per annum) |
1. |
Pre-shipment Credit |
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(a) |
Upto 180 days |
Not exceeding 350 basis points over LIBOR/ EURO LIBOR/ EURIBOR |
|
(b) |
Beyond 180 days and upto 360 days |
Rate for initial period of 180 days prevailing at the time of extension plus 200 basis points |
2 |
Post-shipment Credit |
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|
(a) |
On demand bills for transit period (as specified by FEDAI) |
Not exceeding 350 basis points over LIBOR/ EURO LIBOR/ EURIBOR |
|
(b) |
Usance bills (for total period comprising usance period of export bills, transit period as specified by FEDAI and grace period wherever applicable)
Upto 6 months from the date of shipment |
Not exceeding 350 basis points over LIBOR/ EURO LIBOR/ EURIBOR |
|
(c) |
Export bills (demand or usance) realised after due date but upto date of crystallisation |
Rate for 2(b) above plus 200 basis points |
3 |
Export Credit Not Otherwise Specified (ECNOS) |
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|
(a) |
Pre-shipment credit |
Free @ |
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(b) |
Post-shipment credit |
Free @ |
@ Banks are free to decide the rate of interest being rupee credit rate keeping in view the BPLR and spread guidelines. |