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Purpose
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* To meet the investment credit / working capital requirement of farmer/s and /or corporates for setting up and running Vermicompost Units.
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Eligibility
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* All Farmers, SHGs, JLGs of farmer's including tenant farmers, share croppers, Proprietorship/Partnership Firms/Pvt./ Public Ltd. company/ies. etc., Non-Government Organizations (NGOs), Cooperatives, Municipal Corporations, Federations, Agricultural Produce Marketing Committees, Marketing Boards and Agro Processing Corporations. |
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Nature of facility
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* Term Loan and /or CC as per the purpose.
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Limit
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* Based on assessment, maximum uptoRs2.00 crore.
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Margin
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*Upto 1,60,000/--NIL *More than Rs1.60 Lakh up to Rs5,00,000/- : 10%
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Security
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* Primary-Hypothecation of assets created out of bank's finance.
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Interest Rate
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Limit upto Rs3,00,000/-
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MCLR + 1.35%
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Processing Charges
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* UptoRs 3 Lakh/-:NIL *Above Rs 3 Lakh/- :@0.30% |
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Documentation Charges
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* UptoRs 3 Lakh/-:NIL *Above Rs 3 Lakh/- :50% of 1.25%(i.e.0.625%) |
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Repayment
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* 5-8 years
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