Appendix Table I.3 : Interest Rates on Export Credit

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Published on 27 August 2003

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Appendix Table I.3 : Interest Rates on Export Credit


						(Per cent per annum)

			Rates Effective
		Export Credit	Effective from	September 26,	May 5,	January 6,	May 26,
			May 1, 2003	2001#	2001#	2001	2000
			to October 31,
			2003

		1			3		4

1.	Pre-shipment Credit
	i)	Up to 180 days	£PLR-2.5 PP	£PLR-2.5 PP	£PLR-1.5 PP	10.00	10.00
	ii)	Beyond 180 days and up to 270 days	Free	£PLR+0.5 PP	£PLR+1.5 PP	13.00	13.00
	iii)	Against incentives receivable from Government
		covered by ECGC Guarantee up to 90 days	£PLR-2.5 PP	£PLR-2.5 PP	£PLR-1.5 PP	10.00	10.00

2.	Post-shipment Credit
	i)	Demand Bills for transit period
		(as specified by FEDAI)	£PLR-2.5 PP	£PLR-2.5 PP	£PLR-1.5 PP	£10.00	£ 10.00
	ii)	Usance Bills*
		a) Up to 90 days	£PLR-2.5 PP	£PLR-2.5 PP	£PLR-1.5 PP	£10.00	£ 10.00
		b) Beyond 90 days and up to six months from
		the date of shipment	Free	£PLR+0.5 PP	£PLR+1.5 PP	12.00	12.00
		c) Beyond six months from the date of shipment	–	–	–	–	–
	iii)	Against incentives receivable from Government
		covered by ECGC Guarantee (up to 90 days)	£PLR-2.5 PP	£PLR-2.5 PP	£PLR-1.5 PP	£10.00	£ 10.00
	iv)	Against undrawn balance (up to 90 days)	£PLR-2.5 PP	£PLR-2.5 PP	£PLR-1.5 PP	£10.00	£ 10.00
	v)	Against retention money (for supplies portion only)
		payable within one year from the date of shipment
		(up to 90 days)	£PLR-2.5 PP	£PLR-2.5 PP	£PLR-1.5 PP	£10.00	£ 10.00

3.	Deferred Credit
	Deferred credit for the period beyond 180 days		Free	Free	Free	Free	Free

4.	Export Credit, not otherwise specified
	a)	Pre-shipment credit	Free	Free	Free	Free	Free
	b)	Post-shipment credit	Free	Free	Free	Free	25.00
							(Min.)

						(Per cent per annum)

			Rates Effective
		Export Credit	October, 29	April 1,	Augst 6,	Apirl 30,	January 1,
			1999	1999	1998	1998	1998

		1	5	6	7	8	9

1.	Pre-shipment Credit
	i)	Up to 180 days	10.00	10.00	9.00	11.00	12.00
	ii)	Beyond 180 days and up to 270 days	13.00	13.00	12.00	14.00	14.00
	iii)	Against incentives receivable from Government
		covered by ECGC Guarantee up to 90 days	10.00	10.00	9.00	11.00	12.00

2.	Post-shipment Credit
	i)	Demand Bills for transit period
		(as specified by FEDAI)	£10.00	£10.00	9.00	£11.00	£11.00
	ii)	Usance Bills*
		a) Up to 90 days	£10.00	£10.00	9.00	£11.00	£11.00
		b) Beyond 90 days and up to six months from
		the date of shipment	12.00	12.00	11.00	13.00	13.00
		c) Beyond six months from the date of shipment	–	–	–	–	20.00$
							(Min.)
	iii)	Against incentives receivable from Government
		covered by ECGC Guarantee (up to 90 days)	£10.00	£10.00	9.00	£11.00	£11.00
	iv)	Against undrawn balance (up to 90 days)	£10.00	£10.00	9.00	£11.00	£11.00
	v)	Against retention money (for supplies portion only)
		payable within one year from the date of shipment
		(up to 90 days)	£10.00	£10.00	9.00	£11.00	£11.00

3.	Deferred Credit
	Deferred credit for the period beyond 180 days		Free	Free	Free	Free	Free
						(FDA)	(FDA)
4.	Export Credit, not otherwise specified
	a)	Pre-shipment credit	Free	Free	Free	Free
	b)	Post-shipment credit	Free	20.00	20.00	20.00	20.00
				(Min.)	(Min.)	(Min.)	(Min.)

FDA From the date of advance. £ Not Exceeding Min. Minimum – Not Applicable $ Chronic cases, i.e., overdues as on July 1, 1997 are exempted. PP Percentage Points # These are ceiling rates, banks would be free to charge any rate below the ceiliing rate. Note : ‘Free’ means banks are free to charge interest rates decided by them keeping in view the PLR and spread guidelines.