Bill Discounting

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Fund Based assistance offers both Purchase and Sale Bill Discounting and also Invoice Discounting for OEM /vendors to large Corporates.

Under this type of lending, Bank takes the bill drawn by borrower on his (borrower’s) customer and pay him immediately deducting some amount as discount/commission. The Bank then presents the Bill to the borrower’s customer on the due date of the Bill and collects the total amount. If the bill is delayed, the borrower or his customer pays the Bank a pre-determined interest depending upon the terms of transaction.

Bills are classified into four categories as

  • LCBD (Bill Discounting backed with LC),
  • CBD (Clean Bill Discounting),
  • DBD (Drawee bill discounting) and
  • IBD (Invoice bills discounting).

Bill Finance constitutes a vital part of the working capital finance and is a major Trade Finance activity.

Bill Discounting Features

  • We offers discounting of bills up to original tenor of 180 days
  • Bill discounting facility offered as Sale bill discounting or Drawee bill discounting
  • Bills under LCs issued by domestic banks/branches (LCBD) under simplified procedure

Bill Finance constitutes a vital part of the working capital finance and is a major Trade Finance activity.

Invoice Discounting Features

  • Especially useful for OEM / vendors to large corporate
  • No bill of exchange / No acceptance
  • As an overdraft facility or bill discounting facility
  • FIFO method for interest calculation

*Conditions apply: Loans are at the sole discretion of Finance Companies and are subject to guidelines of the Reserve Bank of India. SSFS may engage the services of marketing agents for the purpose of sourcing loan assets in certain locations.

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