Agri Ancillary

Financing For Setting Up of Agri-Clinics and Agri-Business Centers for Agriculture Graduates

Particular

Details

Type of Facility

Term Loan (TL)

Purpose

  • Setting up of Agri Clinics
  • Setting up of Agri Business Centers

Eligibility

  • Graduates in Agriculture and allied subjects from State Agriculture Universities (SAUs) / Central Agricultural Universities / Universities recognized by ICAR / UGC.
  • Diploma in Agriculture and allied subjects from State Agricultural Universities.
  • Science graduates with Post Graduation in Agriculture and allied subjects

Amount

  • Individuals: Maximum Rs 10 lakh,
  • Group (5 members) : Maximum Rs 50 lakh

Margin

  • Limit up to Rs 5.00 lakh: NIL
  • Limit above Rs 5.00 lakh:15% to 25%

(However, concessions will be available to SCs / STs, women and beneficiaries of North Eastern states, Hill areas)

Rate of Interest

ROI shall be as applicable to Agricultural advances

Security

  • Limit upto Rs 5.00 Lakh
    1. Hypothecation of Assets created out of bank loan
  • Limit above Rs 5.00 Lakh:
  1. Hypothecation of Assets created out of bank loan
  2. Mortgage of land / other property.

Repayment

5 to 10 years depending up on the cash flows

Subsidy

Credit linked capital subsidy @ 25% of the capital cost of the project funded through bank loan is available from NABARD. This subsidy would be 33.33% in respect of candidates belonging to SC, ST, Women and other disadvantaged sections and those from North-Eastern and Hilly States.

Other Terms & Conditions

Applicant should complete training programme conducted by National Tanning Institute approved by MANAGE
Paper requirement

1. Loan application ie Form No -138, & Enclosure –B2

  • All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
  • No dues certificates of the applicant from surrounding financial institutions including PACS
  • Legal search from advocate on Bank’s panel for loans above Rs.1.00 lakh where land is to be mortgaged
  • Price quotations/ Plan estimates / Permissions etc. depending up on the purpose of loan

2. Guarantee form F-138

  • All 7/12, 8 A & PACS dues certificate of the guarantors