Dena Bank offers wide range of services both at pre-shipment and post-shipment stage to exporters to help them realize business opportunities world over. We offer both Pre-shipment and Post-shipment credit in Rupee denominated terms as well as in Foreign Currency to exporters having firm export orders or confirmed Letters of Credit.
Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit - Click here to view details
Pre Shipment Export Credit (Packing Credit)
Dena Bank offers Pre-shipment Credit (Packing Credit) to the exporters for financing procuring, processing, manufacturing and/ or packing the goods for export. Packing Credit is granted for a period depending upon the circumstances of the individual case, such as the time required for procuring, manufacturing or processing (where necessary) and shipping the relative goods.
Packing Credit is liquidated out of the proceeds of the Bill dawn for the exported commodities, once the Bill is purchased/ discounted etc., thereby converting pre-shipment credit into post-shipment credit.
Packing Credit in Foreign Currency (PCFC)
With a view to making credit available to exporters at internationally competitive rates, Dena Bank extends Pre-shipment Credit in Foreign Currency (PCFC) to exporters for domestic and imported inputs of exported goods at LIBOR/EURO LIBOR/ EURIBOR linked rates of interest. PCFC is available in major foreign currencies i.e. USD, GBP, EURO and YEN. Exporters can cover the cost of both domestic as well as imported inputs by these funds.
PCFC can be liquidated out of proceeds of export documents on their submission for discounting/rediscounting under the EBR Scheme. Subject to mutual agreement between the exporter and the banker it can also be repaid / prepaid out of balances in EEFC A/c as also from rupee resources of the exporter to the extent exports have actually taken place.
Post Shipment Export Credit
Dena Bank offers Post-Shipment Credit to exporters after shipment of goods till the date of realization of export proceeds and includes any loan / advance granted on the security of any duty drawback allowed by the Govt. from time to time. The exporter has the option to avail of pre-shipment and post-shipment credit either in rupee or in foreign currency. . The exporter can avail the following advances at post-shipment stage:
i. To get export bills purchased /discounted / negotiated;
ii. To get advances against bills for collection;
iii. To receive advances against duty drawback receivable from Govt.
Post-shipment credit has to be liquidated by the proceeds of export bills received from abroad in respect of goods exported.
Letter of Credit Advising/ Confirmation
Dena Bank, having wide network of correspondent banks offers Letter of Credit advising services through SWIFT, fax, telephone to help exporters arrange for shipment and preparing the documents in advance.
We offer bank guarantees on behalf of exporters to enable them to undertake big export contacts. The guarantees include bid-bond guarantee, Advance payment Guarantee etc. The guarantees are issued for eligible purposes as mentioned in FEMA.
Exporters’ Gold Card Scheme
Dena Bank has launched GOLD CARD SCHEME for exporters to meet the working capital needs of exporters with good track record and credit worthiness, subject to their fulfilling the specified eligibility norms.
i. Exporters whose accounts have been classified as “Standard” continuously for a period of 3 years and there are no irregularities / adverse features in the conduct of the account.
ii. Established exporters having satisfactory track record with the branch for at least 3 years and enjoying Credit Rating stipulated by the Bank.
Key benefits under the scheme are as following:
i. Rate of interest is stipulated at 0.25% lower than the rate applicable for normal exporters for pre-shipment Rupee credit.
ii. The charge schedule and fee structure are relatively lower than those provided to other exporters.
iii. Preference given for grant of Packing Credit in Foreign Currency (PCFC).
iv. Applications for credit are processed at norms simpler and under a process faster than for other exporters.
Gold Card issued is valid for 3 years and will be renewed for a further period of 3 years subject to compliance of laid down sanction terms and conditions.