CENT AGRI-FARMHOUSE SCHEME
Objective
To provide finance for construction, repair, renovation and Extension of Agri-farmhouses
Eligibility
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.
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.
Margin
20% of the project cost
Rate Of Interest
As applicable to prevailing agricultural advance
Repayment Period
Maximum 15 years, including moratorium period.
Security
Primary – Mortgage/Charge on the assets being financed.
Collateral – Extension of charge on land already mortgaged with the bank; Hypothecation of existing and future crop on the charged land and livestock
Guarantee
Personal Guarantee on loans above Rs.5 lakh