CentralBank of India-Rural Agri Banking
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Cent Vermicompost Scheme


Purpose

 

* To meet the investment credit / working capital requirement of farmer/s and /or corporates for setting up and running Vermicompost Units.

 

Eligibility

 

* 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.

 

Nature of facility

 

* Term Loan and /or CC as per the purpose.

 

Limit

 

* Based on assessment, maximum upto Rs.2.00 crore.

 

Margin

 

* Upto 1,60,000/-- NIL
*More than Rs 1.60 Lakh upto Rs 5,00,000/- : 10%
*More than Rs 5,00,000/- : 20%

 

Security

 

* 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.

 

Interest Rate

 

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

 

MCLR + 1.35%
MCLR + 2.50%
MCLR + 3.00%
As per Rating of Borrower

 

Processing Charges

 

* 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/-

 

Documentation Charges

 

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

 

Repayment

 

* 5-8 years.

 


For further details, please contact our nearest branch.

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