India's First Technology Platform that offers cheap, instant & convenient BC quotes
An online platform, first of its kind that lets you take instant Buyers credit quotes service directly from foreign lenders thus obviating the need for intermediaries. As buyer’s credit arrangers in India, we aid you to acquire import finance which results in quicker response time, lower interest rates, minimal arrangement fee and better convenience to execute your import transactions.
Yes. As per the latest Master Circular on Trade Credits the all in ceiling cost for a Buyers credit transaction is 6 Month Libor + 350 bps. All in ceiling cost included lenders spread, arrangement fee, handling fee, out of pocket expenses. It doesn’t include LOU Issuance charges.
Refer Master circular: https://www.rbi.org.in/scripts/BS_ViewMasCirculardetails.aspx?id=8101
Well, once the requirement is identified by the Importer, they approach their bank or consultant seeking an offer on interest rates. Once Importer is ok with the interest rates of the foreign lender, the lender issues an Offer letter which is submitted to the bank along with the other relevant document for the bank to issue LOU.
Now, the importers bank issues LOU to the foreign lender basis which the lender funds the NOSTRO account of the importers bank. Then, the importers bank can use those funds to make the payment to the importers supplier on the due date.
"SaveDesk lays down the foundation of : Transparency, Confidentiality and Trust. They not only helped us save cost on immediate basis but also provided us with a sustainable solution going forward."
They are a team of amazing and self-driven, motivated members and they have been a great team to work with and for savings, as their company name suggests.
We do get a lot of foreign remittances and it is at times impossible to track the pricing and other financial intricacies. With SaveDesk, you can rest assured that you are in SAF(V)E hands. SaveDesk's support is largely responsible for the dramatic lowering of the Bank charges and thereby resulting in increase in our profits and revenue.
SaveDesk! Finally a start up which has taken up the task of bringing financial fairness in current banking cost structure. They are a team of highly qualified & experienced ex-bankers and not only act as our extended finance team but also our in-house advisors on various important financial decisions of the company. I strongly recommend services of SaveDesk who has helped us benefit from their efficient and reliable advisory support.
IDBI Bank, Kotak Mahindra bank, Exim Bank, ICICI Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab National Bank, State Bank of India, UCO Bank, Union Bank of India, Vijaya Bank, Axis Bank, City Union Bank, Federal Bank, HDFC Bank, IDFC Bank, IndusInd Bank, Jammu and Kashmir Bank, Karnataka Bank, Tamilnadu Mercantile Bank, YES Bank, Citibank, J.P. Morgan Chase Bank, HSBC, Standard Chartered Bank