State Bank of India, or SBI, is the largest bank in India. The company is known for offering a wide range of financial schemes. One such scheme is the EDFS or Electronic Dealer Financing Scheme. It is a program designed to benefit manufacturers, like industry majors and their dealers or distributors. So large companies can get help managing their inventory. And if you are using this scheme actively, you must keep your SBI Online EDFS Login handy.
However, things can be challenging if you try to start with the platform for the first time. But not to worry, here is a detailed step-by-step guide:
What is EDFS (Electronic Dealer Financing Scheme)?
The EDFS is a finance scheme offered by the State Bank of India that is targeted towards industry majors and their distributors in the manufacturing sector. It helps large manufacturing businesses to manage their inventory financing for dealers.
Through EDFS, the dealers can get short-term working capital loans to purchase inventory from a specific manufacturer that SBI has partnered with. As a result, the distributors can enjoy smooth cash flow for large upfront business purchases.
On the other hand, large businesses can offer competitive financing options to their dealers, which can help them increase their sales. Also, SBI handles the creditworthiness assessment of the dealers, which helps reduce the risk of the manufacturers.
The entire EDFS system is handled online, which offers faster and easier management. It also ensures a secure transaction between all parties, e.g., dealers, manufacturers, and SBI.
However, EDFS is specifically offered to dealers of partnered manufacturers, and not all manufacturers participate in this program. Also, read about Baroda Gems: Bank of Baroda Sparsh Staff Login Portal
SBI Online EDFS Login – How To Login To Your Account?
- First, visit the SBI EDFS website’s official link https://scf.sbi/vfim/login.htm and click on the login button.
- Next, you will be asked to enter your username, password, and captcha. Fill in the details and click on the login button.
That’s it. You should now be able to access services related to EDFS. If you face trouble accessing your account, consider resetting your password.
Conclusion
So that was all about the SBI EDFS login. Using the SBI Online EDFS Login, you can access your accounts within the Electronic Dealer Financing System and manage your loans. However, if you face any issues while accessing the service, you can always contact customer support for further help.