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Cash Backed Lending Program

Cash Backed Lending Program

Immediate approval and disbursement of non-fund based facility!

The Cash Backed Lending Programme aims to provide a comprehensive solution for the financing requirements of Traders, Manufacturers and Service providers.

Product features may change without notice -for all Products offering.

key attractions

QUICK PROCESSING

Quick Processing with minimal documentation

IDEAL SME SOLUTIONS

Ideal for immediate non fund based credit needs of SMEs

features and benefits

Features

Non – Fund Based Letter of Credit, Buyers Credit, Bank Guarantee

  • Non – Fund Based Letter of Credit, Buyers Credit, Bank Guarantee
  • Letter Of Credit: 180 days /upto 3 years in case of Supplier’s Credit LC
  • Bank Guarantee: 36 months (including claim Period)
  • Letter Of Undertaking: upto 1 year period for arranging BC for non capital goods and upto 3 years for arranging BC for Capital Goods

Margin Amount

For Domestic: 100% LC/BG/SBLC value

  • For Domestic: 100% LC/BG/SBLC value
  • If FX sensitivity not to be hedged by non cancellable forward contract: 105% of LC/BG /SBLC/ LUT plus interest Value for USD, Euro & GBP while 110% for other currencies.
  • If FX sensitivity to be hedged by non cancellable forward contract: 100% LC/BG/SBLC/LUT plus interest Value.

benefits

Account level customization

  • Account level customization
  • Anywhere Banking Facility at no extra cost
  • Money Monitor : India’s first aggregation tool that helps you to view all your bank accounts through single window
  • State of the Art Internet Banking Platform with Real time online account
  • Anytime Anywhere’ banking enabling you to operate your account from any YES BANK branch across the country with no hidden charges

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Documents Required

  • Request letter to debit the client’s account for creation of FD

  • Trade KYC document

  • Duly accepted copy of the Facility letter

  • Indemnities for the LC facility

  • Letter of Set off (In case Third Party Fixed Deposit provided as security) executed by such third party in  favor of YBL

  • Board Resolution according consent for availing the facility, providing fixed deposit as security and authorizing persons to sign and execute documents on behalf of the company.

  • FD discharge form

Have any other query?

Q. For what purpose can this program be used?

A. LC: for procurement of raw materials/capital goods and BG: for guaranteeing the financial / performance obligations of the client

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Q. For what purpose can this program not be used?

A. This facility is not be used for issuance of merchant trade/revolving/red clause LC or for issuance of inter institutional guarantees/ guarantees on behalf of overseas JV/WOS guarantees /third party BG/issuance of BG to stock exchanges)/issuance of BG for purchasing gold on loan basis No open ended BGs in terms of amount to be issued under this delegation

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