Show Hide
Internet Banking Login StatementsGet In Touch

Poll          Survey          Stay Connected

Offer Zone Rates & Charges
Rates & Charges
 
FD, RD & iWish
General
(390 days - 2 yrs)
8.50% Apply Now
Senior Citizens
(390 days - 2 yrs)
9.00% Apply Now
 
Loans
Home Loan 
(Upto 5 crore)
9.90*% Apply Now
Personal Loan
(Upto 20 lacs)
11.99*% Apply Now

More Rates       Service Charges & Fees 

Warehouse Receipt Finance

Loan against Warehouse Receipt

ICICI Bank's Rural, Micro banking and Agribusiness group caters to the financial needs of those involved in the commodities business, such as farmers, traders, processors and aggregations. A credit line of up to Rs. 300 million is offered for agricultural operations with agricultural commodities as securities, including those maintained in demat form.

Features

  • Limit : Maximum of Rs. 300 million. The limit is assessed on the basis of financial parameters and proof of dealing in commodities
  • Tenure : Maximum of 12 months. The tenure of each tranche varies from 3 to 12 months depending on the commodity financed

Benefits

  • Speedy loan sanction and disbursement with minimum documentation
  • No additional security other than Agricultural commodities
  • Attractive rate of interest
  • Speedy release of commodities after repayment of dues
  • Loans available at non-branch locations also
  • Loans extended in government/private warehouses

Loan Disbursement Process

  • Please contact our Sales Manager (SM)
  • Submit the requisite documents
  • The limit is then set up on the basis of your eligibility
  • Stock the commodity in the designated warehouse and submit warehouse receipts along with disbursement documents to ICICI Bank
  • Loan is disbursed after the Bank inspects the stock

Maximum Rate of Interest applicable to the facility is

I-BASE + 12% plus applicable interest tax or other statutory levy, if any.

 

Final applicable rate is decided by ICICI Bank based on various other parameters as per the policy of ICICI Bank and will be communicated to the customer upon sanction of loan, subjected to a minimum of I-BASE.

Interest rate range for Commodity Based Finance (Loan Against Warehouse Receipt)

ProductMaximumMinimumMEAN
Farmer 14.0 10.20 11.41
Non Farmer 14.5 10.25 11.34
  • The range of interest rates provided above is with respect to individual tranche wise loans disbursed during Quarter-III FY15
  • It includes categories like fixed rate, tranche disbursement and customer profile like farmer, village level aggregator, processors, etc.
  • The rate of interest is also based on the customer profile and valuation of commodity being funded
  • It excludes subsidy and government schemes
  • Mean rate = Sum of rate of all tranche wise loan/ Number of all tranche wise loan.

Charges:

 

Processing fees: up to 1% of processing fees to be charged on every disbursement

 

Collateral Management charges: Maximum of Rs. 35,000 per month charges will be applicable for private warehouses.

 

Annual Percentage Rate:

 

The Annual Percentage Rate (APR) is a method to compute annualized credit costs which includes interest rate and processing fees.

 

To calculate the same, please click here to download the APR calculator.

 

*Tranche: It refers to warehouse receipt disbursement each time

Other Charges

Other charges including but not limited to statutory charges, such as stamp duty on documentation, Monitoring and Inspection Charges and Quality checking charges etc., as applicable, and any other charges as communicated to the customer from time-to-time by ICICI Bank are payable by the client.

Penal Interest

In case of late repayment, penal interest @ ROI + 6% p.a. will be levied and collected.