► Post Sale limits are extended by way of discounting/ purchasing of bills/cheques, advances against book debts etc.
► Bill Purchase - These may be in the nature of on demand Clean or Documentary bills being the bills payable on demand drawn on outstation centres for which immediate credit is afforded to your business account less our discount and handling charges.
► Usance Bill Purchased - Usance Clean or Documentary bills are bills payable on due date after expiry of the usance period drawn on drawees/payees against which immediate credit is given to your business account less interest for the usance period, handling charges, postage etc.
► Bills Discounted - 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.
