Top 10 Export Finance Companies in India for 2026
The top 10 export finance providers covered here are Drip Capital, Canara Bank, ECGC, ICICI Bank, EXIM Bank, KredX, Bank of Baroda, M1 NXT (the M1xchange group’s export platform), SBI, and Credlix.
We compared them on what export credit actually costs after government support, how long it takes to get the money, who qualifies, what each one funds, and who absorbs the loss if your overseas buyer does not pay.
Drip Capital leads this editorial shortlist for its advertised pricing from 0.7% a month and invoice funding within 24 hours after onboarding and credit approval, without collateral or an existing bank relationship. Canara Bank provides a published bank-price example: 7.05% for the cited 90-day rupee-credit band for manufacturer exporters eligible for enhanced 90% ECGC cover, or about 4.30% after eligible interest subvention. Its first-limit sanction target is 30 to 45 days. Credlix offers non-recourse factoring and purchase-order finance, but its published eligibility differs by product and should be confirmed before applying.
The right choice depends on your funding stage, eligibility and whether you already hold a sanctioned export credit limit. An existing limit can make bank drawdowns quick. For a first application, compare the bank's sanction process with the fintech's onboarding, credit approval and invoice-funding process, not just its advertised disbursal time.
The table below ranks all ten.
The Top 10 Export Finance Companies in India in 2026
Here are ten export finance providers and what each is best suited for. This is an editorial shortlist, not a cheapest-to-most-expensive ranking or a guarantee of approval.
| # | Provider | Why it ranks here | Best for |
|---|---|---|---|
| 1 | Drip Capital | Advertised pricing from 0.7% a month, subject to credit evaluation; invoice funding within 24 hours after onboarding and approval; no collateral or existing bank relationship required | Exporters seeking fast invoice funding after onboarding and credit approval |
| 2 | Canara Bank | Published 90-day price example of 7.05%, or about 4.30% after eligible subvention, for manufacturer exporters eligible for enhanced 90% ECGC cover; published sanction targets | Eligible exporters who can plan ahead for a bank credit limit |
| 3 | ECGC | Not a lender; insures exporter and bank risks. Its Small Exporters Policy covers turnover up to ₹5 crore, and it offers dedicated service-export insurance | Exporters selling on open account, and service exporters |
| 4 | ICICI Bank | Insta EPC disburses packing credit in minutes, LC-backed bill negotiation is without recourse, and pre-shipment explicitly covers services | Existing ICICI customers who need speed at bank pricing |
| 5 | EXIM Bank | Offers project and longer-term export financing; publishes MCLR benchmarks, not an all-in borrower rate. Confirm the current benchmark and spread | Project exporters and large contract exporters |
| 6 | KredX | Advertises up to 90% within 72 hours for export factoring, subject to terms, and publishes its ITFS license number | Exporters wanting non-recourse cover with a licensed platform |
| 7 | Bank of Baroda | Full pre and post shipment in rupee and four foreign currencies, plus a Gold Card carrying a 10% concession on commission and exchange | Exporters wanting foreign currency credit across currencies |
| 8 | M1 NXT (M1xchange group) | Cross-border trade-finance platform; confirm the participating financier's funding time and recourse terms | Exporters seeking funding through participating trade financiers |
| 9 | SBI | Large banking network and participation in domestic TReDS financing; confirm the relevant export-finance product separately | Exporters who value reach and an existing SBI relationship |
| 10 | Credlix | Advertises non-recourse factoring up to $5 million and purchase-order finance; timing and eligibility depend on the product and verification | Exporters seeking non-recourse factoring or purchase-order funding, subject to product eligibility |
How we compared them
We opened every provider's own rate and product pages rather than relying on secondary sources, pulled the government scheme terms from the DGFT guidelines themselves, and computed effective costs from published benchmarks and spreads instead of quoting ranges. Three names that appear on competing lists, Tata Capital, Bajaj Finance and Ugro Capital, were checked and dropped, because none of them publishes an export finance product at all.
What Are the Different Types of Export Finance Companies in India?
Export finance companies in India are not one kind of business. Five types sit under the phrase, with different lending, insurance and marketplace roles. Banks and EXIM Bank cover both pre- and post-shipment needs; some non-bank providers offer pre-shipment options too.
| Type | What it actually does | Funds pre-shipment | Funds post-shipment |
|---|---|---|---|
| Commercial banks | Lend against your confirmed order or your shipping documents, usually against collateral and a sanctioned limit | Yes | Yes |
| Government export credit institution | Lends for exports, weighted towards large contracts and overseas projects | Yes | Yes |
| Government export credit insurer | Does not lend. Insures you against your buyer not paying, which makes banks lend more cheaply | Insures both | Insures both |
| NBFCs and fintechs | Buy export invoices or lend against them; pricing, approval time and collateral depend on the product | Rarely | Yes |
| Invoice marketplaces | Not a lender. A platform where several financiers bid to fund your invoice | Some platforms facilitate pre-shipment finance | Yes |
Two practical consequences follow from this:
- Banks and EXIM Bank offer both stages; some non-bank providers also offer pre-shipment funding. Credlix finances purchase orders directly, and Drip reaches the same stage through a trading subsidiary that buys from you as reseller. Even so, if you need money to buy raw materials before you ship, your list is much shorter than if you are waiting on an invoice.
- ECGC gives you no money at all. It belongs on this list because its cover reduces what the lenders charge you, not because it is a source of funds.
How Do the Best Export Finance Companies Compare on Cost?
Export-finance pricing depends on the product, borrower, currency, tenor, fees and any scheme eligibility. The published examples below are not a market-wide minimum and maximum or like-for-like all-in quotes.
Canara publishes benchmarks and spreads for specified borrower bands; Drip advertises a starting monthly rate. Obtain a written quote covering fees and eligibility from every provider before comparing costs.
| Provider | Published cost | What that works out to | Source |
|---|---|---|---|
| Canara Bank | STRLLR 5.50% plus a spread of 1.20% to 2.10% by tenor, on a schedule headed for manufacturer exporters eligible for enhanced 90% ECGC cover | 7.05% for the cited 90-day eligible manufacturer band | Canara rate annexures |
| Canara Bank, foreign currency | Benchmark plus 150 basis points for manufacturer exporters with 90% ECGC cover | Benchmark plus 1.50% | Same |
| Drip Capital | As low as 0.7% a month, subject to credit evaluation, 80% of invoice advanced | 0.7% × 12 = 8.4% simple annualization of the advertised minimum, before applicable fees | dripcapital.com |
| EXIM Bank | Publishes monthly MCLR benchmarks; confirm the current month and applicable product spread | Borrower rate quoted by EXIM Bank | eximbankindia.in/mclr |
| ECGC | ECIB–EF bank cover for advances against post-shipment incentives: 6 paise per ₹100 per month on the month's highest outstanding advance | Not an exporter buyer-default policy quote; exporter-policy premiums are separate | ECGC products |
| SBI | Page states 7.35% but was last updated February 20, 2020 and still references LIBOR | Not usable as a current rate | sbi.bank.in |
| ICICI, Bank of Baroda, M1 NXT, KredX, Credlix | Not published | Quote on application | Provider sites, October 2026 |
How to read this table
- At its advertised minimum, Drip's 0.7% monthly rate annualizes simply to 8.4%, before applicable fees. That is not a firm all-in quote or a maximum. Canara's cited eligible 90-day band is 7.05%, or about 4.30% after eligible subvention. Compare equivalent funding amounts, charging bases, tenors and fees before deciding which is cheaper.
- Eligible MSME exporters can receive 2.75 percentage points a year of interest subvention on qualifying pre- and post-shipment rupee export credit under the Export Promotion Mission, capped at ₹50 lakh per financial year. On the cited Canara band, that would reduce 7.05% to about 4.30%. You need an active IEC, valid Udyam registration and qualifying exports. For FY 2026–27 onwards, generate the relevant DGFT Unique Identification Number (UIN) within 15 days of original disbursal and provide it to the bank; separate facility/year requirements apply. Eligible credit must have been disbursed on or after January 2, 2026. Use the amended scheme terms rather than the January pilot wording alone.
- ECGC cover can affect foreign-currency credit pricing. Canara's cited PCFC schedule offers benchmark plus 150 basis points for eligible manufacturer exporters with enhanced 90% ECGC cover for tenors up to 180 days; the cited general band reaches 225 basis points over the benchmark. Confirm the applicable tenor, borrower band, currency benchmark and insurance cost before concluding that foreign-currency borrowing is cheaper.
- A published rate and a current rate are different things. SBI's export credit page carries a figure, but it was last updated in February 2020, quotes LIBOR, and makes the revised rate conditional on an ECGC scheme implementation date that ECGC does not document anywhere on its own site. Treat it as historical.
- Nothing here includes fees. SBI charges 0.10% a year on export credit limits up to ₹50 crore and 0.06% on the amount above that, under its schedule effective October 1, 2026. Its overdue export bill charge appears in that schedule with no rate against it, so ask for the number. Canara publishes a separate forex charges schedule. Ask for the fee schedule alongside the rate.
What Export Finance Actually Costs: A Worked Example
For illustration, assume a ₹50 lakh shipment with payment after 90 days. The Canara columns use the cited eligible 90-day band and actual/365 interest. The Drip column assumes its advertised minimum applies to the ₹40 lakh advance for three months; this charging basis and rate must be confirmed in a written offer. These are conditional calculations, not loan quotes.
| Canara, standard | Canara, with subvention | Drip Capital | |
|---|---|---|---|
| Illustrative rate assumption | 7.05% a year | 4.30% a year | 0.7% a month, assuming the advertised minimum is offered |
| Amount funded | ₹50 lakh | ₹50 lakh | ₹40 lakh, 80% advance |
| Cost over 90 days | About ₹86,900 | About ₹53,000 | ₹84,000 if charged on the advance; ₹105,000 if charged on invoice value |
| Published timing, subject to approval | 30 to 45 days for a new limit | Same | Within 24 hours after onboarding, approval and invoice submission |
What this tells you
- In this illustration, eligible subvention saves about ₹34,000 on the ₹50 lakh bank advance over 90 days. This does not establish the price gap between every lender or product.
- Drip Capital advances less, so compare the cost against what you receive. These are not equivalent deals. The bank advances ₹50 lakh and Drip advances ₹40 lakh, and Drip's page does not say whether its monthly charge applies to the advance or to the invoice value. Confirm the charging base in the written offer before comparing totals.
- Approval time matters alongside price. Canara publishes 30 to 45 days for a new limit, while Drip advertises invoice funding within 24 hours after onboarding and approval. These are different stages of the process; do not assume that a new fintech application saves six weeks or that its final price will match the advertised minimum.
These figures exclude processing fees, the ECGC premium where applicable, and foreign exchange costs on conversion.
When you compare export finance offers, look at how much money you actually receive, what you pay over the full period, and whether there are any additional fees. A lower advertised rate doesn't always mean a cheaper facility, especially when one lender advances a smaller share of your invoice than another.
How Do the Best Export Finance Companies Compare on Speed and Eligibility?
Speed and eligibility decide whether an advertised facility is available to you. Compare the full application-to-approval process separately from drawdown or invoice disbursal, and compare actual written prices rather than treating a starting rate as a firm offer.
| Provider | Time to money | Who qualifies | Collateral | Recourse |
|---|---|---|---|---|
| Drip Capital | Within 24 hours after onboarding, approval and invoice submission | Not published | Not required | Without recourse, per its homepage |
| Canara Bank | 30 to 45 days to sanction a new limit, 30 days to renew | Standard bank credit norms | Subject to bank security assessment and applicable guarantee support | Not published |
| ECGC | n/a, insurer | Small Exporters Policy at turnover up to ₹5 crore | n/a | n/a |
| ICICI Bank | Minutes via Insta EPC, once a limit exists | Needs a sanctioned ICICI credit limit | LC-backed bill negotiation: no collateral, subject to product terms | LC-backed bill negotiation without recourse |
| EXIM Bank | Not published | "Proven track record"; other products need 10% to 20% export turnover | Charge on current assets, 15% to 20% margin pre-shipment | Not published |
| KredX | Advertised up to 90% within 72 hours, subject to terms | Not published | Not required | Without recourse |
| Bank of Baroda | Not published | Confirmed order or LC, Gold Card needs 3 years standard account | Subject to bank credit/security assessment | Not published |
| M1 NXT | Not published for exports. The 24 hours is its domestic platform | Subject to the financier's exporter, buyer and transaction assessment | Invoice-based | "Often" without recourse, per M1 NXT |
| SBI | Gold Card targets of 25 days fresh, 15 renewal, 7 ad hoc, on a page dated 2020 | Gold Card has published eligibility; confirm current terms | Not published | Not published |
| Credlix | Advertised 24–48 hours after facility setup and invoice verification; product-dependent | Published turnover, buyer-history and sector requirements vary by product; confirm the applicable offer | Not required | Without recourse |
How to read this table
- The 30 to 45 days is for a first limit, not every drawdown. Canara's published turnaround covers sanctioning a fresh or enhanced facility. Once a limit exists, drawing against it is quick, which is why ICICI can offer disbursal in minutes to its existing customers. The slow part is becoming a customer, not being one.
- Without recourse is worth more than it sounds. If your buyer defaults on a with-recourse facility, the lender comes back to you after the goods have shipped. Drip Capital, KredX and Credlix all state that they fund without recourse, and M1 NXT says its financiers often do. Most bank post-shipment credit does not, with ICICI's negotiation of LC-backed bills the clear exception.
- Check eligibility for the exact product, not just the provider. Credlix publishes different turnover and buyer-history criteria across its product pages. EXIM also offers Ubharte Sitaare for eligible small and mid-sized companies with export potential. ECGC's Small Exporters Policy serves exporters with anticipated turnover up to ₹5 crore, but it is insurance, not a lending eligibility threshold.
- ICICI explicitly finances service-export expenses, and EXIM's Trade Assistance Programme covers goods and services. ECGC offers dedicated service-export insurance, not loans. Confirm other providers' product-specific service-export eligibility directly; silence on a page is not proof of exclusion.
What users say
Customer reviews are a limited signal, not proof of export-credit performance. As checked on October 21, 2026, Drip Capital's Trustpilot profile showed 4.5 out of 5 from 98 reviews, including 61 in the preceding twelve months; the profile was claimed in February 2020. M1xchange, KredX and Credlix had no reviews on their Trustpilot profiles. Our searches did not establish matching G2 listings for those three, so we do not claim a verified G2 review count. Whole-bank reviews are not a like-for-like measure of export-finance service. The product terms reveal these practical differences:
- Sanction and disbursal are different clocks. Canara publishes 30 to 45 days for a new limit, and SBI's dated Gold Card page gives a 25-day fresh-application target. Fintech invoice-funding advertisements usually refer to a later stage after onboarding and approval; do not read them as first-application timelines.
- Collateral is what the government is targeting. The Export Promotion Mission's collateral support guarantee exists specifically so an exporter can borrow against an order without pledging assets, which tells you what was blocking borrowers.
- Non-recourse is not a category, it is a term in your facility. M1 NXT says financiers "often" offer it. Drip advertises it on its homepage but publishes no exclusions. Confirm it in writing for your specific facility.
Top 10 Export Finance Companies in India Reviewed in Detail
Every provider on this list solves a slightly different problem. Here is what each one offers, where it holds up, and where it falls short.
1. Drip Capital
Best for: Exporters who need fast invoice funding after onboarding and credit approval and have no sanctioned bank limit.
Type: Fintech, post-shipment, with a pre-shipment purchase order advance routed through its trading subsidiary.
Drip Capital buys your export invoices and advances most of the value immediately, using data-led underwriting rather than collateral. It is the only non-bank provider here that publishes a rate before you apply, though as a best case rather than a quote.
Pros:
- Publishes an advertised best case rate of 0.7% a month, which no bank or marketplace here does.
- Advertises invoice funding within 24 hours after onboarding and credit approval, against Canara's published 30 to 45 days for a first limit.
- Advances 80% of invoice value with no collateral and no existing banking relationship required.
- Credit lines up to $3 million, which covers most mid-sized exporters.
Cons:
- Its advertised starting rate of 0.7% a month is roughly 8.4% simple annualized before fees, subject to credit evaluation, not a firm quote.
- Mainly post-shipment. Its purchase order advance is not lending: Voyager Trading, Drip's trading subsidiary, buys from you as reseller and pays up to 60% upfront, 20% on the bill of lading and 20% once the overseas buyer pays.
- Publishes no eligibility criteria, so you cannot tell if you qualify before applying.
- Advertises non-recourse financing on its homepage but does not publish the covered buyer risks or the contractual exclusions, so get both in writing.
Choose it if: You have shipped, you need fast invoice funding, and you do not have an export limit in place; allow for onboarding and credit approval.
2. Canara Bank
Best for: Eligible manufacturer exporters comparing published rates who can wait for a sanction.
Type: Public sector bank, pre and post shipment, rupee and foreign currency.
Canara publishes more of its export credit pricing than any other lender in India, including the benchmark, the spreads by tenor, and the time it takes to sanction a limit.
Pros:
- Published 90-day band for manufacturer exporters eligible for enhanced 90% ECGC cover: 7.05%, falling to around 4.30% with eligible government subvention. Computed from its published rate annexures, not a universal lowest-rate quote.
- Publishes its STRLLR benchmark at 5.50% and its full spread schedule, so you can compute your rate yourself.
- Publishes a turnaround time of 30 to 45 days for new limits, one of only two lenders here to put a number on it.
- Runs the Credit Guarantee Scheme for Exporters with 100% guarantee cover for eligible exporters.
- Prices foreign currency credit at benchmark plus 150 basis points for manufacturer exporters with 90% ECGC cover.
Cons:
- A first limit takes 30 to 45 days, which rules it out for urgent working capital.
- Security requirements depend on bank credit assessment and applicable guarantee support.
- Its ECNOS rate appears as 5.25 in a spread column on one document and as a flat 5.25% on another, which are not the same thing.
Choose it if: You are planning ahead rather than firefighting, and the rate matters more than the wait.
3. ECGC
Best for: Exporters selling on open account terms, and service exporters seeking credit insurance.
Type: Government export credit insurer, regulated by IRDAI under registration number 124.
ECGC does not lend. It insures you against your buyer failing to pay, and it insures banks against your default, which is what makes export credit cheaper and easier to obtain.
Pros:
- Its Small Exporters Policy covers 95% of commercial risk and 100% of political risk for exporters with anticipated annual export turnover up to ₹5 crore. This is an insurance-policy ceiling, not a lending entry threshold.
- Holding 90% ECGC cover moves manufacturer exporters onto Canara's best foreign currency spread regardless of credit grade.
- Offers purpose-built insurance products for service exporters: SITES at 80% cover, the Specific Services Policy at 90%, and a Software Project Policy.
- Publishes the premium for its bank-side cover, 6 paise per ₹100 a month on the highest amount outstanding during the month, at 75% cover, for bank advances against post-shipment export incentives.
Cons:
- Gives you no working capital, so it cannot be your only arrangement.
- Exporter-side premium rates are not published anywhere on its site, only a calculator behind a client login, so you cannot price an exporter policy before applying.
- The NIRVIK scheme that SBI's rate page depends on appears nowhere on ECGC's own website.
Choose it if: You are shipping to new buyers or uncertain markets, or you are a service exporter seeking protection against non-payment.
4. ICICI Bank
Best for: Existing ICICI customers who need bank pricing at fintech speed.
Type: Private sector bank, pre and post shipment, rupee and foreign currency.
ICICI offers the fastest bank disbursal in this list and is the only bank to state that its pre-shipment credit covers services as well as goods.
Pros:
- Insta EPC disburses rupee packing credit in minutes once a limit is in place.
- Export bill negotiation of LC-backed bills is collateral-free and without recourse, subject to LC compliance and sufficient credit lines with the issuing bank.
- Pre-shipment finance covers expenses for rendering services, which few banks state explicitly.
- No pre-payment penalty within 30 days on PCFC.
Cons:
- Publishes no rates at all, and its FAQ sends rate enquiries to a branch.
- Both pre and post shipment facilities require an existing sanctioned ICICI credit limit, so the speed only applies if you are already a customer.
- Collateral-free terms are stated only for bill negotiation and factoring, not for packing credit.
Choose it if: You already bank with ICICI, or you are choosing a banking relationship and speed of drawdown matters.
5. EXIM Bank
Best for: Project exporters, capital goods suppliers and long-tenor overseas contracts.
Type: Statutory government institution, established under the Export-Import Bank of India Act 1981.
EXIM Bank is India's apex export credit institution. It is built around large contracts and overseas projects rather than routine working capital.
Pros:
- Publishes monthly MCLR benchmarks, not an all-in borrower rate; confirm the current benchmark and applicable spread.
- Built for project exports and longer-term overseas contracts.
- Its Trade Assistance Programme explicitly covers export of goods and services, with tenors up to 365 days.
- Now the implementing agency for the government interest subvention scheme, which places it at the center of export credit policy.
Cons:
- Publishes no lending rate, no ticket size and no turnaround for any export credit product.
- Entry is framed as needing a "proven track record", and some products require exports of 10% to 20% of turnover.
- Requires a margin of 15% to 20% on pre-shipment and around 10% on post-shipment.
- Its one published route in for a mid-sized company, the Ubharte Sitaare Programme for firms up to roughly ₹500 crore turnover, offers equity, debt and technical assistance rather than routine working capital.
Choose it if: You are financing a large overseas contract rather than a shipment.
6. KredX
Best for: Exporters who want a non-recourse platform that publishes both its license and its terms.
Type: Marketplace, operating DTX domestically and GTX for cross-border trade, under an IFSCA license.
KredX runs two platforms, a TReDS platform for domestic receivables and an IFSCA-licensed international trade finance platform for export factoring. It is the only marketplace here that publishes an advance rate and a turnaround for its export product.
Pros:
- Publishes its ITFS license number, IFSC/FC/ITFS/2022-23/0001, which no other platform in this list does.
- Advertises up to 90% of invoice value within 72 hours on export factoring, the only published export turnaround among the marketplaces here.
- Funds without recourse, with invoices treated as the security.
- Both import and export factoring available through the same operator.
Cons:
- The 90% and 72-hour figures both carry an asterisk that the page never explains.
- Its dedicated export factoring site publishes neither the advance rate nor the turnaround, so the two KredX properties disagree on what is disclosed.
- Publishes no rates or fees on any of its three sites, and no eligibility criteria for the export platform.
- Stated sector coverage is goods only, naming chemicals, textiles, pharma, food and automotive.
Choose it if: Non-recourse cover matters and you want a platform whose regulatory status and headline terms you can check before you apply.
7. Bank of Baroda
Best for: Exporters who want foreign currency credit across several currencies.
Type: Public sector bank, pre and post shipment, rupee and foreign currency.
Bank of Baroda offers PCFC in US dollars, euros, pounds and yen, plus a dedicated scheme for established exporters.
Pros:
- Pre-shipment credit in four foreign currencies, with forward cover bookable on future drawals.
- Export credit available for up to the operating cycle or 360 days.
- The Baroda Exporter Gold Card carries a published 10% concession on commission and exchange, a three-year sanction and a 20% standby limit for sudden orders.
- Export bill rediscounting available in four currencies at international rates.
Cons:
- Publishes no interest rates, stating only "as per the banks' norms applicable from time to time".
- Gold Card eligibility requires a standard account for three continuous years and excludes exporters with overdue bills above 10% of turnover.
- No published turnaround time.
Choose it if: Your receivables are spread across currencies and you want to borrow in the currency you invoice in.
8. M1xchange
Best for: Exporters seeking cross-border financing through M1 NXT and its participating financiers.
Type: RBI-licensed TReDS marketplace for domestic receivables, operated by Mynd Solutions, with an IFSCA-regulated arm in M1 NXT for cross-border factoring.Type: RBI-licensed TReDS marketplace for domestic receivables, operated by Mynd Solutions, with an IFSCA-regulated arm in M1 NXT for cross-border factoring.
M1xchange is not a lender. It runs an auction where banks and NBFCs bid to fund your invoice, which is designed to push the discount rate down. Its headline terms belong to the domestic TReDS product, and the export arm publishes considerably less.
Pros:
- M1 NXT advances 80% to 100% of invoice value on export factoring.
- Multi-financier bidding through M1 NXT for cross-border trade.
- RBI-licensed TReDS platform domestically, with M1 NXT regulated by IFSCA for cross-border factoring.
- Fully digital with no collateral required.
Cons:
- M1 NXT publishes no turnaround at all. The 24-hour figure belongs to the domestic platform, which says 48 hours in its own body text.
- Non-recourse is not assured on exports. M1 NXT says financiers often offer it, which leaves it to the facility.
- Export funding depends on the participating financier's approval and terms, not merely a corporate buyer's presence on domestic TReDS.
- Publishes no rates, no fees, no ticket sizes, and neither its TReDS nor its ITFS license number.
Choose it if: You want cross-border financing through M1 NXT, and you will confirm approval, disbursement timing and the recourse terms of the specific facility in writing.
9. SBI
Best for: Exporters who value branch reach and an existing SBI relationship.
Type: Public sector bank, pre and post shipment, rupee and foreign currency.
SBI has a large branch and correspondent banking network and participates in domestic TReDS financing.
Pros:
- Participates in TReDS financing for domestic receivables; this does not establish cross-border export-factoring access.
- YONO Business digitizes letters of credit, export bills, remittances and advance payments.
- Publishes a detailed export transaction charges schedule, charging 0.10% a year on export credit limits up to ₹50 crore and 0.06% above that, effective October 1, 2026.
- Publishes application disposal targets under its Exporters Gold Card scheme: 25 days for a fresh application, 15 days for a renewal and 7 days for an ad hoc limit, though that page was last updated in 2020.
- Unmatched branch coverage for exporters outside metros.
Cons:
- Its export credit rate page was last updated on February 20, 2020, still quotes LIBOR, and ties the revised rate to an ECGC scheme implementation date that ECGC does not publish.
- Its current overdue export bill charge was not established by the reviewed schedule, so confirm the applicable charge with SBI.
- No ticket size is published on the reviewed export product pages; Gold Card eligibility and application-disposal targets are published.
Choose it if: You already bank with SBI, and ask for the current rate in writing rather than relying on the published page.
10. Credlix
Best for: Exporters who meet the requirements of the specific Credlix product and want non-recourse funding.
Type: Fintech, part of the Moglix group, pre and post shipment.
Credlix offers non-recourse export factoring at larger ticket sizes than most fintechs, with purchase order funding as well as invoice funding.
Pros:
- Non-recourse factoring, so buyer default does not return to you.
- Limits up to $5 million, the largest fintech ticket in this list.
- Advertises 24–48-hour funding without collateral, depending on product, documents and verification.
- Offers purchase order financing at up to 40% of PO value, which is rare for a fintech and reaches back before shipment. The 90% figure on the same page is its invoice product, not the PO one.
Cons:
- Its main factoring page lists ₹20 crore annual turnover and buyer relationships of typically six months or more, but turnover requirements differ by product/page, so confirm which applies to your facility.
- Its main factoring page targets manufacturing-led export businesses; service-exporter eligibility is unconfirmed and should be checked for the specific product.
- Publishes no rates at all, stating only that pricing is "competitive in nature".
- Its advance rate is stated as up to 90% on one page and 80% to 85% on another.
Choose it if: You meet the requirements of the specific product and non-recourse cover at scale matters more than knowing the price upfront.
How We Ranked These Export Finance Companies
We compared ten providers on five factors and checked every figure against the provider's own pages, the DGFT scheme guidelines, or a published regulator record.
| Factor | How much it counted | What we looked at |
|---|---|---|
| Actual cost | Most | What an exporter effectively pays once the benchmark, spread and government subvention are applied, not what a rate card implies |
| Speed to money | Most | Published sanction and funding times, separating initial application and credit approval from invoice disbursal and drawdown against an existing limit |
| Accessibility | High | Turnover gates, vintage requirements, collateral, and whether an existing banking relationship is needed |
| Product scope | High | Pre-shipment, post-shipment, rupee and foreign currency, and whether service exporters are covered |
| Risk transfer | Medium | Whether financing is with or without recourse, and who absorbs a buyer default |
Where a provider runs separate domestic and export platforms, we judged it on the export one. That is why KredX, which publishes an advance rate and a turnaround for export factoring, ranks above M1 NXT, whose export-funding turnaround we could not verify.
Cost and speed count equally because they are the two things an exporter actually trades off. Starting rates are not cost ceilings, and post-approval funding times are not application-to-cash guarantees. Neither dominates the other, so a provider rises when it is strong on one and not disqualifying on the rest.
Where our information comes from
- Provider websites: Every rate, spread, fee and eligibility criterion was read on the provider's own page or rate document, opened directly rather than through automated extraction. Where a provider publishes nothing, we say so rather than substituting an estimate.
- Computed figures: Canara Bank's 7.05% is our calculation from its published STRLLR of 5.50% and its published 1.55% spread for the cited 90-day band for manufacturer exporters eligible for 90% ECGC cover, not a figure Canara states as a headline. Drip Capital's advertised starting rate of 0.7% a month is equivalent to 8.4% simple annualized before fees, subject to credit evaluation.
- Government schemes: The subvention rate, cap, eligibility and tariff-line coverage come from the DGFT guidelines for the Export Promotion Mission, including the January 2026 guidelines, later UIN amendments and the August 2026 transfer of implementation to EXIM Bank.
- Regulatory status: ECGC's IRDAI registration number and KredX's IFSCA license number are as published by those providers. We were not able to verify any NBFC registration against the RBI register, so no NBFC registration number is asserted here.
- Exclusions: Tata Capital, Bajaj Finance and Ugro Capital appear on competing lists and were each checked and excluded, because none publishes an export finance product. Bajaj Finance's export packing credit page is an explanatory article whose application button leads to a general business loan.
Which Export Finance Company Is Right for Your Business?
The right export finance company depends on how soon you need the money, whether you already hold a sanctioned limit, and whether you export goods or services.
| Your situation | Best pick | Runner-up |
|---|---|---|
| Need fast invoice funding after approval | Drip Capital | Credlix |
| Want a published bank-price example | Canara Bank (cited 90-day band) | Compare written bank quotes |
| Already have a bank limit | ICICI Bank | SBI |
| Worried about buyer default | ECGC | KredX |
| Exporting services | ECGC (insurance) | ICICI Bank (credit) |
| Financing a large project | EXIM Bank | SBI |
If you have no sanctioned export limit and need money now
Drip Capital. It advertises invoice funding within 24 hours after onboarding and credit approval, with no collateral or existing banking relationship required. Its advertised pricing starts at 0.7% a month, equivalent to 8.4% simple annualized before fees, subject to credit evaluation. Confirm the rate, charging base, fees and initial approval time before committing.
If you can plan ahead and want a published bank-price example
Canara Bank. Its cited 90-day band for manufacturer exporters eligible for 90% ECGC cover works out to 7.05%, or roughly 4.30% if the 2.75-point government subvention also applies. Start the limit application well before you need the money, because a first sanction takes 30 to 45 days.
If you are an MSME exporting goods
Apply for the interest subvention alongside your credit facility. It cuts 2.75% a year off pre and post shipment rupee credit, up to ₹50 lakh a year, and applies to eligible credit disbursed on or after January 2, 2026. For FY 2026-27 onwards, generate the relevant DGFT Unique Identification Number within 15 days of original disbursal and give it to your bank. Separate facility and financial-year UIN requirements apply. You will need an active IEC, a valid Udyam registration, and exports falling under the scheme's list of eligible tariff lines. Check the current amendments and facility requirements with the lender before claiming.
If collateral is what is blocking you
Ask your bank about the collateral support guarantee under the Export Promotion Mission, which can reduce collateral requirements for eligible export credit. It covers 85% for micro and small exporters and 65% for medium ones, up to a ceiling of ₹10 crore including existing CGTMSE guarantee exposure. Standard annual guarantee fees are 0.37% to 1.20%, before applicable discounts or risk premiums. Canara Bank also publishes a dedicated page for the separate Credit Guarantee Scheme for Exporters, which carries 100% cover.
If you export services rather than goods
For insurance, ECGC offers SITES at 80% cover and the Specific Services Policy at 90%; it does not lend. ICICI states that its pre-shipment credit covers expenses for rendering services. EXIM's Trade Assistance Programme also covers goods and services through trade-instrument credit enhancement. The January 2026 Export Promotion Mission interest-subvention and collateral-support schemes cover merchandise, not services; that does not exclude services from bank finance generally.
If your buyer might not pay
ECGC cover, or a without-recourse facility from Drip Capital, KredX or Credlix; confirm covered buyer risks and contractual exclusions. Most bank post-shipment credit is with recourse, meaning a buyer default comes back to you after the goods have shipped. ICICI advertises non-recourse negotiation of LC-backed bills, subject to LC compliance and sufficient credit lines with the issuing bank.
If the problem is that your payments arrive slowly, not that you lack credit
Look at the payment rail before you borrow against it. Export finance bridges the gap between shipping and getting paid, but part of that gap is often settlement time rather than buyer credit terms. A cross-border collections platform such as Skydo settles international payments into an Indian account with FIRA and purpose code compliance handled, which shortens the gap you need to finance in the first place. For the banking side of this, see our guide to the best bank for exporters in India.
What is export finance?
Export finance is credit tied to a specific export order or shipment. It bridges the gap between spending money to fulfill an order and receiving payment from your overseas buyer, which typically runs 30 to 120 days. It splits into pre-shipment finance, which funds raw materials and production, and post-shipment finance, which funds the wait for payment.
Which is the best export finance company in India in 2026?
What is the interest rate on export finance in India?
Is the Interest Equalisation Scheme still available for exporters?
Can service exporters get export finance in India?
What is the difference between pre-shipment and post-shipment finance?
How long does it take to get export finance in India?
Does ECGC give loans to exporters?
What collateral do I need for export finance in India?
Which export finance providers offer non-recourse financing?
