Bank of Maharashtra Mahabank Gold Card Scheme For Exporters
Bank of Maharashtra Mahabank Gold Card Scheme For Exporters from Download
The Mahabank Gold Card Scheme for Exporters is a credit delivery mechanism designed to provide preferential credit terms and faster processing to exporters with an established, clean track record. [1, 2]
The critical details, application steps, and key download points for this scheme include:
Eligibility Criteria
- Account Status: The exporter’s credit account must be continuously classified as a “Standard Asset” for the past 3 immediately preceding years. [3]
- Financial Health: The business must not have suffered continuous losses over the last 3 years. [3]
- Clean Record: The exporter’s name must not appear on the Reserve Bank of India (RBI) defaulter/caution list, and they must not be blacklisted by the Export Credit Guarantee Corporation (ECGC). [3]
- Bill Realization: Overdue export bills must not exceed 10% of the current financial year’s turnover, and there must be zero defaults on pre-shipment credits. [3]
Key Benefits & Scheme Features
- Standby Credit Facility: Exporters automatically receive an additional standby limit of not less than 20% of their assessed credit limit to handle urgent, unexpected global orders. [3, 4]
- Foreign Currency Preference: Cardholders get top priority when applying for Packing Credit in Foreign Currency (PCFC) and foreign currency term loans using FCNR funds. [1, 5]
- Lower Service Fees: Overall service and processing fees are structured to be 25% lower than what standard exporters are charged. [4, 6]
- Longer Card Validity: The card is issued for 3 years and auto-renews for another 3 years if the account maintains its clean, irregular-free status. [6]
Strict Timelines for Bank Action
The bank adheres to fast-tracked internal turnaround times (SLA) specifically for Gold Card applications:
- Fresh / Enhanced Limits: Sanctioned within 25 days.
- Existing Limit Renewals: Processed within 15 days.
- Ad-hoc Credit Requests: Cleared within 7 days. [6]
Download and Application Process
To apply for the scheme via the Bank of Maharashtra Downloads Portal: [7]
- Download the Form: Locate and download the Simplified Loan Application Form for Export Credit (referenced as Annexure B in the portal downloads).
- Mandatory Attachments: The core form must be accompanied by Annexures I through IV as applicable to log your projected export turnover and credit requirements.
- Submission: Submit the self-attested application packet directly to your designated corporate or commercial bank branch handling trade finance. [5, 6, 8]
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