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Purpose |
To provide finance for construction, repair, renovation and Extension of Agri Farm House. |
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*Eligibility
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Existing and new borrowers with 5 acres irrigated or 10 acres un-irrigated land, Annual Income of Rs. 3.00 Lakh or more who are not defaulters of any bank and/or financial institution. |
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Quantum of Loan |
Depending upon repayment capacity, subject to 80% of Project cost. Minimum Rs.2 lakh and maximum Rs. 25 lakh. For repairs/renovation/extension maximum Rs. 5 lakh. |
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Margin |
20% of the project cost |
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Rate of Interest |
As applicable to prevailing agricultural advance |
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Repayment Period |
Maximum 15 years including moratorium period maximum 18 months.
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Security Primary Collateral |
Mortgage/Charge on the assets being financed. Extension of charge on land already mortgaged with the bank, Hypothecation of existing and future crop on the charged land and livestock. |
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Guarantee |
Personal Guarantee on loans above Rs 5 lac.
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