Onshore Foreign Currency Loan (OFCL) is a trade facility in Foreign Currency for financing import/ export/ local purchases (for pure local purchases/ export purpose only) and local sales (for pure local sales/ where customer has import or foreign currency obligations).
Minimum period of financing: 5 days.
Maximum period of financing: Must not exceed the approved financing tenure by the bank subject to a maximum period of 180 days.
OFCL is drawn against presentation of necessary supporting documents and the financing amount is up to 100% of invoice value. The minimum OFCL financing amount is set at USD5,000 or its equivalent.
Access to alternate funding in foreign currency at competitive interest rate
Improve cash flow for better cash management and business expansion
Net exporters have the advantage of natural hedging of exchange risk
OFCL Cost of Fund + Customer’s Spread.
Please refer herefor details on trade fees and charges.