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Purpose
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To meet the Pre-harvest, Post harvest credit requirement and finance against pledge of agricultural produce of JLGs of farmers.
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Eligibility
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Joint Liability Groups of Small and Marginal Farmers, Tenant Farmers, Oral Lessees, Share Croppers and Individuals taking up farm activities.
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Nature of facility
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Term Loan/CC/Demand Loan, depending upon the purpose.
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Limit
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For
individual member of the group – Maximum Rs 1.00 lakh.
For JLG as a group –
Based on the available cultivable area of each member of the JLG and the
activity undertaken, maximum Rs 5.00 lakh per group.
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Margin
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On loans upto Rs 1.60 Lakh :
Nil
On loans above Rs 1.60 Lakh : 10%
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Security
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Primary -
Hypothecation of crops and assets created out of bank's finance.
Collateral -
- No collateral for limit upto Rs. One lac.
- For limits above Rs. One lac, charge on agricultural land.
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Interest Rate
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Upto Rs 3,00,000/-
Above Rs 3.00 lakh
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MCLR + 1.35%
MCLR + 2.50%
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Processing Charges
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*For
Production Credit :
Nil
*For other than Production Credit : 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
Above Rs 2 Lakh - Rs 50/- per Lakh
or part thereof
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Repayment
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Depending upon duration of crop and realization of sale proceeds.
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