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 metal-junction executive will contact you in 24 hrs.

 
 
 
 
 
 
 

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Now you bid from your smart phone!*

It's easy and convenient!

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See disclaimer

Use of the software requires and presumes adherence and assent to the following terms and conditions and awareness of the following limitations for which the users agree not to hold the company liable

  1. The "mobile bidding screen and applications associated with it" (the software) are copyright of mjunction services limited (the company) , and may not be distributed, rented out, re-sold, re-engineered, decompiled, reconstructed nor used for any other purpose than the purpose for which intended by the company. It is the users obligation to make sure that the use of the software provided by the company does not contravene the local laws of the country/ state / region of the user. The user may keep copies of the software for the purpose of back-up and archival only.
  2. No warranties and Limitation of Liability The software is being presented on an "as is " basis without any express or implied warranty of any kind, including but not limited to any warranties of merchantability, non infringement, or fitness of a particular purpose. does not warrant or assume responsibility for the accuracy or completeness of any information, text, graphics, links or other items contained within the "mobile bidding screen and applications associated with it" .The company makes no warranties respecting any harm that may be caused by the transmission of a computer virus, worm, time bomb, logic bomb, or other such computer program. The company further expressly disclaims any warranty or representation to Authorized Users or to any third party. In no event shall the company be liable for any damages (including, without limitation, lost profits, business interruption, or lost information) rising out of 'Authorized Users' use of or inability to use the software, even if the company has been advised of the possibility of such damages. In no event will the company be liable for loss of data or for indirect, special, incidental, consequential (including lost profit), or other damages based in contract, tort or otherwise. The company shall have no liability with respect to the content of the software or any part thereof, including but not limited to errors or omissions contained therein, libel, infringements of rights of publicity, privacy, trademark rights, business interruption, personal injury, loss of privacy, moral rights or the disclosure of confidential information. In case of any deviation between the computer interface and the mobile screen interface, the data as made available on the computer screen will prevail.
  3. Buyers may note that certain fields which are visible on the computer screen have been with-held and are not shown on the mobile screen. This has been necessitated so as to enable effective rendering on the mobile screen with sufficient speed.
  4. Certain facilities of monitoring multiple lots are also limited in their availability on the mobile screen, again due to space and speed considerations.
  5. Certain checks against high bids , available on the computer screen, may not be available on the mobile screen, or, may behave differently, due to limitations of technology.
  6. This communication being sent by company is privileged and confidential, and is directed to and for the use of the addressee only. If this message reaches anyone other than the intended recipient, we request the reader not to reproduce, copy, disseminate or in any manner distribute it. We further request such recipient to notify us immediately by return email and delete the original message. Company does not guarantee the security of any information transmitted electronically and is not liable for the proper, timely and complete transmission thereof. Opinions, conclusions and other information in this communication that do not relate to the official business of Company shall be understood as neither given nor endorsed by it.

* The mobile bidding application will not run IPhone. Blackberry and other phones with proprietary operating systems