- Current Account
- Pay
- Collect
- Trade
Services
Solution for Exporters
- Debt & Working Capital
24x7 Loans
For MSMEs with turnover up to ₹30 Cr
- Treasury
- Transact Digitally
- Home
- Corporate
- Trade Finance
- Ra Financing
RA Financing
RA Financing is a form of Trade Credits structure where Reimbursing Bank acts as a lender independent of the LC, funds the Exporter’s Bank /claiming Bank of a trade against a reimbursement claim on sight/ as per LC terms, and the LC issuing bank pays back to Reimbursing Bank as per payment terms of LC on due date.
Features & Benefits
On sight basis negotiation
The buyer can deal with the seller on sight basis and negotiate a better deal
Low-cost global funding
Applicant gets access to cheaper funds from international markets
Multiple financing locations | Descriptions - Wider reach with multi-location financing.
Multiple financing locations
Swift processing
Quick Turn Around of transactions
This account comes with a host of unique features:
- Zero Monthly Average balance Requirement
- Extended benefits in cash deposits, withdrawal, chequebook, NEFT and RTGS
- Nil Monthly Service charge
- Classic , Supreme and Platinum options available for debit card. Click here
How it works
There are three steps according to RBI guidelines:
- 01
Buyer approaches our Bank with the requirement of Financing
- 02
We provide quote from Funding bank to the client.
- 03
Post acceptance of quote by the client, we proceed with Documentation and LC issuance.
- 04
LC is sent to Beneficiary Bank and post shipment by Exporter, documents are sent by Bene Bank to the Issuing Bank.
- 05
Post receipt of Acceptance SWIFT by Issuing Bank, Bene Bank claims funds from the Reimbursing Bank as per the LC terms.
- 06
Reimbursing Bank honors the claim from the Bene Bank as per Authorisation SWIFT from the Issuing Bank.
- 07
On due date Importer client pays us principal plus applicable interest and the same is remitted to Reimbursing Bank.
Disclaimer:
Product offering is subject to certain eligibility criteria as per the Bank's internal policy and is subject to the Bank's discretion.
