Beti Bachao Beti Padhao

Mahabank Kisan All Purpose Term Loan

Mahabank Kisan All Purpose Term Loan
FacilityTerm Loan (TL)
PurposeTo create hassle free single term loan limit to farmer for all term loan requirements excluding development projects with long gestation periods (more than 3-4 years)
EligibilityIndividuals, Joint/ Group of farmers- owner cultivators & JLG’s/SHG’s engaged in agriculture & allied activities
  • To be based on the investment plan given by the farmer to be undertaken in the next 2-3 years
  • The plan can be a combination of investment/ development activities relating to agriculture & allied activities.
  • It shall be subject to 5 times of Annual Income (Current pre development stage) of the farmer including allied activities or 50% of value of land mortgaged whichever is lower subject to Maximum of Rs 20.00 Lakh
  • Limit up to Rs 1.60 Lakh- NIL
  • Limit above Rs 1.60 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%
  • Up to Rs 1.60 lakh- Hypothecation of assets created out of bank finance
  • Above Rs 1.60 lakh (aggregate limit)- Mortgage of land, value thereof shall be at least 200% of limit sanctioned
RepaymentRepayable within 9 years maximum in suitable installments coinciding overall income generation of the farmer, without linking to individual projects.
InsuranceAsset created have to be insured for full value.
Other Terms & ConditionsThe farmer should undertake to create/ complete the project within 15/30 days of availing the disbursement.
Paper requirement1. 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
  • 2. Guarantee form F-138.
  • ll 7/12, 8 A & PACS dues certificate of the guarantors
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