Packing Credit Loan in Foreign Currency (PCFC)
Packing Credit Loan in Foreign Currency (PCFC) is a form of pre shipment finance to exporters at internationally competitive rates.
- Provided to an exporter as a form of pre shipment finance to exporters at internationally competitive rates
- Rate of interest is linked to LIBOR
- The exporter will have a choice of currency i.e. USD, GBP, Euro etc.
- Period is based on Export Cycle, up to 6 months(180 days).
- Applicant shall be an Exporter
- All Corporates having turnover of Rs.500 Crores and above.
- Hypothecation / extension of Hypothecation charge over the underlying current assets.
- Extension of charge over Fixed Assets
- Additional tangible security such as immovable properties / bank deposits etc.
- Personal guarantee of proprietors / partners / promoters
- Corporate guarantee