Import Finance

We understand the burden of raising capital for bringing goods into the country. Saraswat Co-operative Bank Ltd., for finished products or raw materials, provides letter of credit to our customers for the purchase. These are generally provided for 90 to 180 days.

Import Letter of Credit:

Opening of Import Letter of Credit in major permitted currencies, in favour of overseas suppliers across the globe
Letters of credit are advised through major International Banks.
Arrangements are also in place to add confirmation of advising Banks to the letters of credit on your or supplier’s request.
For faster advising of letter of credit we have the facility of SWIFT.

Buyer’s Credit:

Saraswat Co-operative Bank Ltd. makes arrangement for Short Term Buyer’s Credit for Import Trade transaction.

Other Facilities

Advising of Letters of credit:

Export letters of credit received by Saraswat Co-operative Bank Ltd. in your favour are advised to you promptly.
You may instruct your overseas buyer to utilize our services for faster advising of export letters of credit to you.
We also ensure prompt advising of the amendments to the export letters of credit.

Export bills on collection basis:

Saraswat Co-operative Bank Ltd. handles the export bills on collection basis with accuracy and speed.
Documents are dispatched for collection within 24 hours.
Handling of export bills are subject to UCPDC/URC as the case may be and FEMA provisions and FEDAI rules.

Import Bill Received for Collection::

We handle import bills received on collection basis sent by your Overseas Suppliers through a Bank, on the basis of documents against payment or on acceptance.