There are various factors that determine maximum loan amount, in case-to-case things get varied.
Warehouse Receipt Finance @7.20% Onwards
• No hidden charges were charged
• Doorstep assistance available
Calculator InformationThe Equipment Finance Calculator calculates the type of repayment required, at the frequency requested, in respect of the loan parameters entered, namely amount, term and interest rate. The Product selected determines the default interest rate for personal loan product. The Equipment Finance Calculator also calculates the time saved to pay off the loan and the amount of interest saved based on an additional input from the customer. This is if repayments are increased by the entered amount of extra contribution per repayment period. This feature is only enabled for the products that support an extra repayment. The calculations are done at the repayment frequency entered, in respect of the original loan parameters entered, namely amount, annual interest rate and term in years.
Length of MonthAll months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days interest dependent on the number of days in the particular month.
Number of Weeks or Fortnights in a YearOne year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366.
Rounding of Amount of Each RepaymentIn practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts. Note that the final repayment after the increase in repayment amount.
Rounding of Time SavedThe time saved is presented as a number of years and months, fortnights or weeks, based on the repayment frequency selected. It assumes the potential partial last repayment when calculating the savings.
Amount of Interest SavedThis amount can only be approximated from the amount of time saved and based on the original loan details.
Calculator DisclaimerThe results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change.
Feel free to use our Our Finance Calculator
This video does not exist.
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.
What you mean by Warehouse receipt financing Eligibility Criteria?
Warehouse facilities aid to get quick access to liquidity, Traders engaged in commodities able to get warehouse receipt financing against pledging goods carried on warehouse. Suppose the borrower fails to pay-back the loan then, lenders take the inventory & sell in to market to balance the loan amount.
Warehouse receipt financing Eligibility Criteria
Eligibility Criteria depends on several factors like repayment history, business sales/turnover& Creditworthiness …etc.
- • Applicant age should in-between 25 – 60 years
- • (NBHC) National Bulk Handling Corporation
- • (NCML) National Collateral Management Services Ltd
- • Edelweiss Agri Value Chain Ltd (formerly Edelweiss Integrated Commodity Management Ltd (EICML))
- • Staragri Warehousing & Collateral Management Ltd
- • Navjyoti Commodity Management Services Ltd)
- • Shree Shubham Logistics Ltd, LTC Commercial Co Pvt Ltd
- • Credit score must be above 750
- • Resident of Indian
Note: – You can avail up to 1 Cr as a maximum loan amount.
What are the factors generally affecting Warehouse receipt financing Eligibility Criteria?
There are top factors that generally affects Warehouse receipt finance eligibility criteria as given below: –
Low business ventage- Lender check years of business continuity as to measure the creditworthiness of company existing performance. Generally, for availing this type of facility 3 year of business continuity required. Due to low business ventage your chances get lowered.
NIL Collateral- If you have low credit score range, then collateral is the essential way to fulfil the requirements, in case you don’t own any collateral/assets to pledge then most probably lender won’t approve your application due to high risk in applicant profile.
What are the ways to increase Warehouse receipt financing eligibility?
To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Maintain proper credit report: – By maintaining credit report you can be able to enjoy benefits like negotiating interest rates, easy approval of credit & loan. Just you are required to pay bills on time as it aids to increase credit score as well as eligibility.
Clear existing debt before opting for new: – Lender look forward to your application whether you have any existing loan, paying interest for earlier loan will affect new loan application. Hence, try to clear it as much as possible.
- PHOTOGRAPHS 2
- PAN CARD COPY
- AADHAR CARD + PASSPORT
- ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
- LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
- LAST 1 YEAR BANK STATEMENT – SALARY ACCOUNT
- LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
- COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
- PROCESSING FEE CHEQUE IN FAVOUR OF BANK
- LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
- PHOTOGRAPH BOTH
- PAN CARD CLEAR COPY PROPRIETOR
- ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
- OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
- FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
- LAST 1 YEAR GST RETURN COPY
- FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
- PROVISIONAL FINANCIAL AY 2019-20
- BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
- 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
- IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS WITH CHAIN SANCTION MAP
- PHOTOGRAPH PARTNERS
- PAN CARD – COMPANY, ALL PARTNERS
- ADDRESS PROOF – ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
- FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
- PARTNERSHIP DEED COPY
- GST CERTIFICATE
- GST RETURN LAST 1 YEARS
- 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH CACERTIFIED
- PROVISIONAL FINANCIAL AY 2019-20
- 3 YEARALL PARTNER INDIVIDUALS ITR + COMPUTATION
- FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
- ALL PARTNER SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH MAP
- ALL DIRECTORS PHOTOGRAPH
- CLEAR PAN CARD – COMPANY AND ALL DIRECTORS
- ADDRESS PROOF – COMPANY AND DIRECTORS
- LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
- MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
- GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
- 1 YEAR GST RETURNS
- ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
- LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
- PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
- COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
- ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions
- 2 Passport sized photographs
- Latest 1 year Bank Statement
- Office address proof
- Land documents
- Personal identity & residential proof
- To know your eligibility, you need to check the common eligibility criteria of warehouse receipt finances: –
- Minimum 3 years of business vintage
- You must be resident of Indian
- Promoter should have good credit history
- Applicant must be a trader, processor or farmer
Usually, Lender impose an fee for processing loan applications which would be 0.50% – 2% of total loan amount vary from banks to banks.
For getting Warehouse Receipt Finance you must have credit score above 750 as much as the higher credit score is that much possibility of getting loan increase with that it also provides you the benefit to negotiate better rates & terms.
- Loan at competitive Interest Rates
- Quick access to liquidity
- Flexible tenure facility
Warehouse Receipt Finance help in reducing tense of finance, pledge your Warehouse Receipt to get instant access to liquidity.