| Purpose |
* To provide loan to purchase, develop and cultivate agricultural as well as fallow and waste land. |
| Eligibility |
* Small and marginal farmers, share croppers / tenant farmers and Entrepreneurs with agricultural background. |
| Nature of facility |
* Term Loan . |
| Quantum of Loan |
* Area and value of land plus development cost less margin, subject to a maximum of Rs.10.00 lac. |
| Margin |
* 20% . |
| Security |
* Primary :
- Charge on land purchased out of bank finance.
- Hypothecation of crops raised on the land.
* Collateral :
-No collateral upto Rs 1.60 Lakh
- Charge on other land presently owned, if any.
|
| Interest Rate |
Upto Rs 3,00,000/-
Above Rs 3.00 lakh to Rs 10.00 lacs
|
MCLR + 1.35%
MCLR + 2.50%
|
| Processing Charges |
* Upto
Rs 25,000/- : Nil .
* Above Rs 25,000/-: @ Rs 120/- per lac
. |
| Documentation Charges |
Upto Rs 2.00Lakh- NIL
Above Rs 2 Lakh to Rs 10 Lakh-
Rs 50 per Lakh or part thereof Max Rs 1000/-
|
| Repayment |
* Within 7 to 10 years in half yearly/ yearly instalments . |