Type of Facility | Term Loan (ATL) &/or Cash Credit (CC) |
Purpose | - Purchase of Milch Animals like Cows/Buffaloes etc
- Purchase of Draft Animals like Bullock /Camel etc
- Poultry: Broiler / Layers Farm, Hatchery, Feed Mill
- Sheep/Goat: Rearing
- Construction of Byre, Purchase of equipment / machinery
- Working Capital Requirements.
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Eligibility | - All farmers- Individual / Joint landholders
- Tenant Farmers, Share Croppers, Oral Lessees
- SHG’s/JLG’s of farmers
(Who have necessary expertise) |
Amount | - Animal: As per NABARD unit costs
- Others:As project Cost / Estimates/ Price quotations.
|
Margin | - Limit up to Rs 2.00 Lakh- NIL
- Limit above Rs 2.00 Lakh-15% to 25%
(Depending upon purpose & quantum of finance) |
Rate of Interest | Up to Rs.10.00 lakh : 1 Year MCLR + BSS@0.50% + 2.00% Above Rs.10.00 lakh : 1 Year MCLR +BSS@0.50%+ 3.00% |
Security | 1) Up to Rs 2.00 lakh: Hypothecation of Animals/Plant Machinery to be purchased 2) Above Rs 2.00 lakh : a) Hypothecation of Animals/Plant Machinery to be purchased b) Third Party Guarantee (Two) / Mortgage of land. |
Repayment | Within 3 to 7 years with suitable monthly/ quarterly/ half yearly installments. |
Other Terms & Conditions | Insurance of all animals/birds & equipments/machineries purchased is essential. |
Paper requirement | - 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.1.60 lakh where land is to be mortgaged
- Price quotations/ Plan estimates / Permissions etc. depending up on the purpose of loan
- Guarantee form F-138
- All 7/12, 8 A & PACS dues certificate of the guarantors
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