A steal for your steel - we help you with easy finance

At metaljunction, we strive to ensure that your journey to procuring steel online is a smooth one. In addition to the transparency and security provided, we have also partnered with various banks to provide you with easy working capital. These banks will provide you with attractive interest rates and collateral-free finance. So put your best bid forward.

What we offer
Get upto Rs.25 lacs to Rs.5 Crore See details »
Credit period upto 45-60 days
Competitive rate of interest
Instant disbursal
Hassle free one time documentation and processing

Buyer Finance. How it works

  • Customer Provides Expression of Interest with application form and documents to metaljunction
  • metaljunction will discuss with bank & once approved, set up over draft limit.
  • Customer sends Finance Request for approved lots
  • Bank processes request & directly makes RTGS payment to the plant or issues Pay Order*
  • Customer Lifts Material and makes payment to bank within due time limit**

* In case of offline mode, customer collects PO and deposits to client office ** In case of default, customer will not be allowed to participate in auctions.

Get upto Rs.5Crore as buyer finance

The finance scheme is open for all auction participants of Metaljunction for secondary / scrap steel items from Tata Steel Ltd (Welspun and JSPL as well for TATA Capital Ltd.), Rourkela Steel Plant, Durgapur Steel Plant, Alloy Steel Plant, Bokaro Steel Ltd, Bhilai Steel Plant, IISCO Steel Plant and Salem Steel Plant.

 
Min Limit N.A Rs.25 lacs Rs.50 lacs
Max Limit Rs.2 Cr. Rs.1 Cr. Rs.5 Cr.
Credit Tenure 60 Days 45 Days 60 Days
Rate of Interest 13.75% p.a. 13.5% p.a. 12.75% p.a
(Above Rs.2Cr. - Rs.5Cr.)
13.0% p.a.
(Upto Rs.2Cr.)
Processing fee 1%
of sanctioned limit
0.25%
of sanctioned limit
0.25%
of sanctioned limit
Validity Period 12 months 12 months
(Reviewed after 6 months)
12 months
Security

TATA Capital:
Depending on customer profile or else security of 10 - 30% of the sanctioned limit is required

HDFC Bank:
1. Promoter's personal guarantee
2. Collateral security as may be required (depending on the financial profile of the customer)
3. Fixed Deposit with HDFC bank for 15% of the limit sanctioned to be kept under lien

Axis Bank:
1. Nil for Buyers rated AB-BBB+/SME-3 and above as per Axis Bank internal rating tool or having an external rating of BBB+ or better.
2. Minimum 25% of sanctioned limit for Buyers rated AB-BBB/SME-4 as per Axis Bank internal rating tool or having external rating of BBB (immovable property / liquid security).
3. Blank undated cheque from the APs, drawn in favour of the Bank not exceeding the limit sanctioned.

Am I eligible?

Who's eligible for buyer finance

  • Only for bidders associated with SAIL, Tata Steel (Welspun and JSPL as well for TATA Capital Ltd.) and metaljunction for more than 3 years.
  • Minimum 12 successful bids on metaljunction auction platform
  • Sales Turnover Rs. 2 crs/Year
  • Positive PAT for last 3 years
  • Dependency on MJ should be 40 - 50% of the total turnover
  • No delay in payment to MJ / Tata Steel & SAIL in the preceding 24 months.
  • Name of the buyer/promoters should not appear under the RBI's/CIBIL Defaulters List.

See all questions related to Buyer Finance »

Interested? Contact us!

Please leave your contact details, a metaljunction executive will contact you in 24 hrs.

 
 
 
 
 
 
 

Thank you for contacting us!
A metaljunction executive will contact you within 24 hrs.