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Purpose
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* To meet all term credit requirements like Farm Mechanization, Land Development, Minor Irrigation, Water Conservation, Horticulture, Allied Activities and other related activities etc .
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Eligibility
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* Individuals / Joint / Group of Farmers-owner cultivators and Self Help Groups, Joint Liability Groups etc., engaged in agriculture and related activities .
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Nature of facility
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* Term Loan repayable within 9 years .
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Quantum of Loan
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* As per plan for investments to be undertaken in the next 2-3 years subject to 5 times of annual income or 50% of value of land to be mortgaged as security with a maximum loan of Rs.20 lac.
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Margin
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* Upto Rs 1.60 Lakh
For loans above Rs 1.60 Lakh-
* Small and Marginal Farmers
* Other Farmers
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Nil
5%
15%
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Security
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* Upto
Rs 1.60 lac*
* Above Rs 1.60 lac*
* (total amount of loans availed by the borrower)
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-
Hypothecation of assets created out of bank's finance.
- Hypothecation of assets created out of bank's finance and creation of Charge
/ Mortgage on land valued at least 200% of the loan amount.
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Insurance
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* Assets created out of loan have to be insured for full value.
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Interest Rate
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Upto Rs 3,00,000/-
Above Rs 3.00 lakh to Rs 10.00 lacs
Above Rs 10.00 lakhs upto Rs.20 lacs
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MCLR + 1.35%
MCLR + 2.50%
MCLR + 3.00%
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Processing Charges
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* Upto
Rs 25,000/- : Nil .
* Above Rs 25,000/-: @ Rs 120/- per lac or part thereof
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Documentation Charges
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Upto Rs 2.00Lakh- NIL
>Rs 2 Lakh to 25.00 Lakh-
Rs 50/- per Lakh or part thereof Max Rs 1000/-
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Repayment
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* In suitable instalments coinciding with overall income generation.
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For further details, please contact our nearest branch.