Electronic Bank Guarantee

Features

This product is launched in partnership with NeSL.

e-BG is the electronic form of bank guarantee which removes the need of printing the Bank Guarantee issued by the bank. It is shared electronically with the end Beneficiary. Post receiving the Bank Guarantee the beneficiary can at any point of time will be able to initiate invocation, amendment, and cancellation from the NeSL portal (from where they have downloaded the Bank Guarantee) The portal is completely managed by NeSL team and access is provided to the beneficiaries upon completing a simple one-time registration.

Also, it will be providing the below mentioned benefits:

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Time Saver
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Correct payment of Stamp Duty
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Removes the chances of Fraud
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Faster way of Communication
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Low Storage and Retrieval Cost
 

Eligibility

Individual, Sole Proprietor, Company, Partnership Firm, Govt. Agencies, Association of People, Body of Individual.

Fees & Charges, Interest Rates

 SL No

Type of Transaction

Charges

1

Performance Guarantee

 

A. Guarantee fully secured by deposits

Rs.500/- + 0.125% per quarter or part thereof subject to a Min of 0.25% or Rs.1000/- whichever is higher

B. Guarantee fully secured by collateral

Rs.500/- + 0.50% per quarter or part thereof subject to a Min of 1% or Rs.1000/- whichever is higher

C. Guarantee without collaterals/partly covered

Rs.500/- + 0.75% per quarter or part thereof subject to a Min of 1.5% or Rs.1000/- whichever is higher

   

2

Other than Performance Guarantee

 

A. Guarantee fully secured by deposits

Rs.500/- + 0.1875% per quarter or part thereof subject to a Min of 0.375% or Rs.1000/- whichever is higher

B. Guarantee fully secured by collateral

Rs.500/- + 0.625% per quarter or part thereof subject to Min of 1.25% or Rs.1000/- whichever is higher

C. Guarantee without collaterals/partly covered

Rs.500/- + 0.75% per quarter or part thereof subject to Min of 1.5% or Rs.1000/- whichever is higher

   

3

SFMS Charges

Flat Rs.1000/-

4

Extension of validity and enhancement of value

Proportionate to value / period at above rates

5

Other amendments

Rs.1000/-

6

Invocation Claim Processing

Rs.2000/-

7

Duplicate Issuance

Rs.2000/-

8

Guarantee Advising

Rs.2000/-