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Lending Against the Security of Future Credit Card Receivables

 In today's environment, there has been a phenomenal change in the way business is run and payments are made. More and more number of people are taking to electronic payments by means of credit or debit cards. IDBI SME product – "Lending against Future Credit Card Receivables" - provides financial assistance to the business entity accepting payments through credit/debit cards.

 
Sr. No  Field  Content 
1 Eligible Segments  Reputed Restaurants, Hotels, Large Petrol Pumps, IATA approved Travel Agents, Tour Operators etc.
2 Facility
  • Over Draft
  • Term Loan: For acquisition of fixed assets, renovation of premises, etc.
    		•
    3 Loan Amount Up to Rs 500 lakh
    4 Tenor
  • Overdraft: One year.
  • Term Loan: Up to 3 years.
    		•
    5 Pricing Interest Rate linked to Bank Base Rate.
    6 Security 
  • Primary: Hypothecation of future card receivables.
  • Collateral: Mortgage of residential/commercial properties for appropriate value.
    		•
    7 Processing Charges 1% for 1st time appraisal & 0.50% for renewal to be charged
    		 
         
         
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