Type of Facility

Term Loan (TL)

Purpose

Purchase of brand new solar lighting system with necessary accessories for usage in Agro Processing units

Eligibility

• Small & Marginal farmers
• Share Croppers / Tenant Farmers
• Agri-Entrepreneurs

Components

• Model I One White LED Lumaniare
• Model II Two White LED Lumaniare
• Model III Three White LED Lumaniare & One DC Fan of wattage upto 10 W
• Model IV Four White LED

Amount

  80-85% of the project cost including the cost of accessories

Margin

Upto Rs. 2.00 lakh - Nil

Above Rs.2.00 lakh – 15-20% of the cost of equipment including cost of accessories

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

Upto Rs. 2.00 lakh - Hypothecation of Equipment & Accessories

   Above Rs.2.00 lakh –  Hypothecation of Equipment & Accessories & Third Party     Guaranty/ Mortgage of land

Repayment

   Minimum 3-5 years

Paper requirement

   Applicant: -

• Loan application
• All 7/12, 8 A, 6 D extracts, Boundaries 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
• Copy of Quotations / Estimates

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