SBI offer for Realme merchants! To lend low-interest rates to fastest smartphone making brand's distributors

SBI Offer for Realme merchants: The State Bank of India (SBI) has taken yet another trendsetting step by entering into a partnership with Realme to cater to the inventory finance needs of the distributors and dealers of its brand through SBI’s electronic lending product (e-DFS).  With this MoU the dealers and distributors would be provided ease of availing credit facilities at low-interest rates, nil margin and minimum collateral requirements. SBI and Realme will also have the comfort of the ensured end-use of funds and real-time MIS reporting of transactions pertaining to purchase and sale of inventory.

Speaking on the MoU PK Gupta, MD (Retail & Digital Banking), SBI said, “We are glad to announce our association with realme. We believe the bank’s trendsetting product, e-DFS would add the extra edge to the dealer/distributor network of Realme in timely inventory funding through the paperless flow of credit facility making use of SBI’s trusted Internet Banking platform. It is State Bank of India's continuous endeavor to fuel the growth of the SME entrepreneurs by providing access to quick and low-cost finance.”

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Commenting on the partnership, Madhav Sheth, Vice President, Realme and Chief Executive Officer, Realme India, said, “Our association with SBI will provide seamless access to credit to our network of distributors and dealers who can help us meet the increasing demand of Realme users. We are committed to ensuring that our entire supply chain becomes more efficient from start to finish so that our users continue to benefit. Realme has grown massively in a short span of time and we have had immense support from our dealers and partners to enable our growth. We will continue to build on our alliances to facilitate robust financial solutions to our dealers and partners across all cities.”

SBI is the market leader in inventory finance. The bank’s Electronic Dealer Finance Scheme (eDFS) is a proven and tested product that has already enabled thousands of dealers across the country to overcome liquidity crunch while availing a hassle-free and digitally driven platform for inventory finance.