Cent Agri-Farmhouse Scheme

CENT AGRI-FARMHOUSE SCHEME

Objective

To provide finance for construction, repair, renovation and Extension of Agri-farmhouses

Eligibility

Existing borrowers having good track record for the past 3 years with the Bank and new borrowers 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 Rs2 lac and maximum Rs25 lac.For repairs/renovation/extension maximum Rs5 lac.

Margin

20% of the project cost

Period

Maximum 15 years, including moratorium period, if any

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 Rs5 lac.

Interest

UptoRs3,00,000/- - MCLR + 1.35%

Above Rs3.00 lakh to Rs10.00 lacs- MCLR + 2.50%

Above Rs10.00 lakhs - MCLR + 3.00%


Processing Charges

Upto 25,000/- -NIL

Above Rs25000/- @ Rs120/- per lac or part thereof,

 

Documentation Charges

UptoRs2.00Lakh- NIL

>Rs.2 Lakh to Rs25.00Lakh- Rs50/- per Lakh or part thereof Max Rs1000/-

 

Inspection Charges

Up to Rs 2 lakh : Nil
More than Rs2 lakh up to Rs5 lakh : Rs200/-
More than Rs5 lakh: Rs500/-

 

Repayment Period

Maximum 15 years, including moratorium period.