Merchandise loan is a loan with fixed month tenure provided to finance businesses by taking into collateral merchandise that is readily available, marketable, insurable and with fairly stable price. These loans are advanced while keeping the goods under sole custody of the Bank.
The Bank grants four types of merchandise loans which include: One-time Merchandise Loan, Revolving Merchandise Loan, Loans against Railway and Airway Bills, and Loans against Warehouse Receipts. A one-time merchandise loan is a credit facility whereby the loan contract remains in force only until the maturity period of the loan. The Bank may approve a revolving merchandise loan facility to its customers by allowing customers to utilize loan up to a certain approved limit.
For any advice on Loan request our bankers are ready to guide you theough the steps. Please Contact Us for more information.