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Purpose
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* To meet the investment credit / working capital requirement of farmer/s and /or corporates for setting up and running Vermicompost Units.
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Eligibility
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* All Farmers, SHGs, JLGs of farmer's including tenant farmers, share croppers, Proprietorship/Partnership Firms/Pvt./ Public Ltd. company/ies. etc., Non Government Organizations (NGOs), Cooperatives, Municipal Corporations, Federations, Agricultural Produce Marketing Committees, Marketing Boards and Agro Processing Corporations.
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Nature of facility
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* Term Loan and /or CC as per the purpose.
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Limit
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* Based on assessment, maximum upto Rs.2.00 crore.
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Margin
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* Upto 1,60,000/-- NIL
*More than Rs 1.60 Lakh upto
Rs 5,00,000/- : 10%
*More than Rs 5,00,000/- : 20%
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Security
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* Primary - Hypothecation of assets created out of bank's finance.
* Collateral
- No collateral for limit
upto Rs 1.60 lac.
- For limits above Rs 1.60 lac, charge
on property.
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Interest Rate
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Limit upto Rs 3,00,000/-
Above Rs 3.00 lacs upto Rs 10.00 lacs
Above Rs 10.00 lacs upto Rs 100.00lacs
Above Rs 100.00 lacs
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MCLR + 1.35%
MCLR + 2.50%
MCLR + 3.00%
As per Rating of Borrower
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Processing Charges
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* Upto Rs 25,000/-:
NIL
*Above Rs 25,000/- to Rs 500 lakh : @ Rs 120/- per
lakh (0.12%) or part thereof subject to a maximum of Rs 50,000/-
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Documentation Charges
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Upto Rs 2 lakh- NIL
>Rs 2 Lakh to Rs 25
Lakh- Rs 50/- per Lakh or part thereof Max Rs 1000/-
>Rs 25 Lakh to Rs 50Lakh-
Rs 75/- per Lakh or part thereof Max Rs 3000/-
>Rs 50 Lakh to Rs 1Crores-
Rs 100/- per Lakh or part thereof Max. Rs 7500/-
Above Rs.1Crore- Rs.100/- per
lakh or part thereof
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Repayment
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* 5-8 years.
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