SME Loans By Citibank
Features For Loan Against Securities By Citibank
Selling your products and services in the global market need not be a painstaking process for you anymore. With Commercial Bank handling all of your export related transactions - its no more hassles! With faster credits through our global network of branches and access to collection information through E-mail alerts and a dedicated Trade Toll Free Number - you have greater control over your foreign receivables. Through a dedicated and expert Trade and Forex Advisory desk - we can structure and customise solutions for your specific requirement.
a. Export Bill Collection Services
By routing your Documentary Collections through Citibank you can now enjoy faster credit of your export credits through our global network of branches in more than 100 countries. With easy access to collection information details - you can now be in complete control of your foreign receivables!
b. Export Packing Credit (Pre-Shipment Finance)
We provide pre-shipment finance in the form of Export Packing Credit to manage your cash flows for the purpose of procuring raw materials, manufacturing, processing, transporting, warehousing, packing, shipping of goods, etc. You can avail this facility in Indian Rupees (Packing Credit) or in a foreign currency (PCFC - Packing Credit in Foreign Currency). Please walk in to the nearest branch or call your Relationship Manager to know more!
c. Export Bills Negotiation (Post-Shipment Finance)
We also negotiate your Export Bills Drawn under a Letter of Credit (LC), if the documents submitted comply with the Terms of the LC. This offering is in the form of a loan advanced to you to bridge the working capital need that may arise after shipping of goods to the date of realisation of your export proceeds. And this comes to you at a very competitive rate of finance!
d. Export Bill Purchasing and Discounting (Post-Shipment Finance)
If your Export Bills are not drawn under a Letter of Credit (LC) - we can advance an amount against sanctioned credit limits immediately after shipment of goods.
e. Export LC Advising
With an international presence in more than 100 countries and a strong correspondent bank network (more than 6,500 banks globally) we advise LCs for customers and non-customers across the country. Once received these LCs are advised to you without any delay and under committed time frames. Through our expertise we can explain complex LC terms to help you assist in error - free document preparation.
f. Export LC Confirmation Services
To protect your export receivables against the political climate or credit risk of the buyer's country, we offer LC Confirmation Services. Once confirmed you are assured of payment subject to your submission of non-discrepant documents irrespective of non-payment by LC opening bank.
g. Export Document Scrutiny Services
A small discrepancy in your export document can lead to refusal of document acceptance or delayed payments resulting in financial losses for you. This can adversely affect your cash flows and profits. With a specialist team of trade exports scrutinising your export documents and a rigorous process of checking you can be assured of not only saving substantially on the discrepancy fee of foreign banks but of any risks that may arise in case the documents get rejected.
Being a privileged customer of Commercial Bank you now have access to the complete suite of import services. By being a leading bank of international repute, we can offer you customised solutions to suit your business requirements. Our wide presence helps us deliver products in a speedy and efficient manner and also helps in simplifying and faster query resolution, responses to follow ups and reimbursements.
a. Import Letter of Credit
A letter of credit represents an unconditional undertaking by the Issuing Bank to pay/accept to pay to the beneficiary on fulfillment of stipulated documentary conditions. Hence, the creditworthiness of the bank replaces that of the buyer.
Citibank issues, advises, amends, confirms and pays sight and time letters of credit through its extensive network of branches and correspondent bank relationships.
We boast of a high level of expertise in providing advisory services in the structuring of Letter of Credits to suit the specific requirements of your transactions. Our trade team is well equipped to structure solutions for a variety of purchase requirements, ranging from simple LCs to revolving LCs, to Standby Letters of Credit.
b. Import Payments Services
With us you can be assured of a prompt and efficient handling of your Import Collection Documents, direct import documents or advance payments. Our team of experts will carefully scrutinise the documents and assist you in effecting payments for the goods purchased from abroad.
With our trade advisory services you can now be advised on various provisions that exist in FEMA relating to such payments and effecting faster and efficient remittances to your supplier.
c. Supplier and Buyer's Credit
We can arrange for financing your imports through a buyer's/supplier's credit at very competitive rates of interest. This is a foreign currency loan and interest rates are typically linked to the LIBOR rate of the currency of finance.
A bank guarantee is an undertaking by the Bank on behalf of its client to pay a certain sum of money to a beneficiary in case of default by the applicant in meeting certain Terms and conditions of an agreement and contract.
Types of Guarantee that are available are:
- Financial Guarantee: These guarantees are irrevocable undertaking by the banks to guarantee repayment of financial obligation
- Performance Guarantee: Such guarantees are an irrevocable undertaking to make payment in the event the customer fails to perform a non-financial contractual obligation
- Shipping Guarantee: These kind of guarantees are issued in favor of the shipping company to enable importer to take delivery of goods without shipping documents
You can now have BGs issued through us with 100% cash collateral or against an existing line with us.
- Collection of domestic purchase or sale documents.
- Extensive tie up with local banks.
- Faster realisation of payments.
Backed by Citi's world-class banking platform, Citi Commercial Bank offers a comprehensive range of competitive financing options.
Working Capital Finance
- Cash credit.
- Working capital Demand Loans.
- Local / Foreign currency short term Loans.
- Export & import Letters of Credit.
- Documentary collections.
- Pre & post export financing and import financing.
- Structured Trade Finance solutions.
Citi India began operations over a century ago in 1902 in Kolkata and today is a significant foreign investor in the Indian financial market. As promoter-shareholder, Citi has played a leading role in establishing important market intermediaries such as depositories, credit bureau, clearing and payment institutions. Operating 45 full-service Citibank branches in 28 cities, it is the preferred banker to 45,000 small and mid-sized companies. Citi helped lay the foundation of the Indian software industry by establishing Citicorp Overseas Software Ltd. and lflex Solutions Ltd.; it pioneered the ITES industry in financial services through Citigroup Global Services Ltd. (CGSL). Oracle acquired lflex in 2005 and CGSL was acquired by Tata Consultancy Services in 2008. Citi India, with around 11,400 employees, is headquartered at First International Financial Centre (FIFC), a world-class environmentally friendly building. It added two new green premises this year, taking the total LEED certified premises to 12.
Citi serves the full spectrum of clients - from helping India's top global corporations commit capital, make markets and manage their global cash positions to supporting the growth ambitions of the country's small and mid-sized enterprises and enabling individuals and households save, invest, spend, borrow and protect their money with trust and confidence. Citi India's products and services are organized under two major segments: Institutional Clients Group (ICG) and Global Consumer Bank (GCB).
ICG serves Citi's best-in-class products, services and execution through Global Banking, Global Markets, Treasury & Trade Solutions, Securities Services, Citi Research and Citi Private Bank.
GCB serves clients in every segment across the entire wealth continuum as they grow in affluence, beginning with the path breaking salaried proposition (CitiAtWork), the emerging affluent (Citibanking), the affluent (Citigold) and the High Net Worth (Citigold Private Client). Citi pioneered the Non-Resident proposition in 1985 to serve the global Indian's unique banking and wealth management needs. With 2.3 million cards in force and 16% share in card spends, Citibank offers a suite of market first premium, rewards and affinity credit cards. Citi Wealth Advisors offers brokerage services to retail customers.