Learn more about the attractive Channel Finance Scheme from TMB.
This scheme is very popular among the developed and fast developing cities and towns. Under this scheme the bank funds the purchase of commodities from manufacturers / stockists by first stage dealers. It is very popular among all the white goods showrooms and large dealers who regularly buy from manufacturers and sell to customers.
It is meant for financing sale of equipments, vehicles and other commodities in the hands of the first stage Distributor / Dealer. This finance is applicable only to sales against sight-payment (i.e. not on credit terms) at the hands of first stage Distributor / Dealer. It is a sort of transit finance in the sense that the goods may be in transit when finance request is made under the scheme. The manufacturer is funded for his sales (supply of equipments, vehicles, commodities etc) whereas the first stage Distributor / Dealer is financed for his purchase through the TMB Channel Finance.
All the above Terms and Conditions are subject to change and sanctioning of the loans is at the sole discretion of the Bank. Service Tax on All Service Charges extra wherever applicable.