|
Purpose
|
* To finance against pledge of Warehouse / Cold Storage Receipts .
|
|
Eligibility
|
* Individual Farmers, SHGs, JLGs, Corporates, Partnership firms and co-operatives of farmers directly engaged in agricultural and allied activities .
* Food and Agro based processing units .
* Processors, Arthias and Traders .
|
|
Nature of facility
|
* Cash Credit / Demand Loan .
|
|
Quantum of Finance
|
*Maximum Rs 50.00 Lakh
*Minimum of
(i) Market Price,
(ii) Minimum Support Price and
(iii) Value mentioned in the Warehouse Receipt, Less Margin.
|
|
Margin
|
* 35%
|
|
Security
|
* Primary
-
Pledge of Warehouse Receipt.
* Collateral -
- No collateral against Warehouse Receipts issued by Central / State
Warehousing Corporations and by other collateral managers having tie-up
arrangements with the bank.
- In other cases :
o Third party guarantee of two persons
o Mortgage/Charge on property to the extent of at least 50% of the loan amount.
|
Interest Rate
(for Agriculture)
|
MCLR +
1.85% (excluding collateral manager charges which are to be recovered from
borrower on actual basis)
|
|
(for other sectors)
|
* For other sectors viz., MSME and Non-Priority Sectors, the rate of interest will be as applicable to that sector.
|
|
Processing Charges
|
* Upto
Rs 25,000/- : Nil .
* Above Rs 25,000/-: @ Rs 120/- per lac or part thereof
|
|
Documentation Charges
|
Upto Rs 2.00Lakh- NIL
>Rs 2 Lakh to Rs 25 Lakh-Rs
50/-per Lakh or part thereof Max Rs 1000/-
>Rs 25 Lakh to Rs 50
Lakh-Rs 75/-per lakh or part thereof Max Rs 3000/-
|
|
Repayment
|
* Within 12 months or due date of Warehouse Receipt, whichever is earlier .
|