|
Purpose |
To provide finance for establishment of dairy units for milk production. |
|
Eligibility
|
Individuals, farmers, groups of farmers, firms, companies, societies, NGOs etc. |
|
Quantum of loan |
Unit cost excluding Margin Money. |
|
Margin
|
For loans up to Rs1lakh : Nil |
|
Rate of Interest |
*As per prevailing rate |
|
Processing Charges |
Up to Rs 3 Lakh/- : NIL *Above Rs 3 Lakh/- : @ 0.30% |
|
Security
|
Primary : Hypothecation of Livestock and other assets Created out of Bank finance. Collateral: (Aggregating all Agricultural loans) For Loans up to 2 Lac: - Nil For Loans above 2 Lac: - Creation of Mortgage/Charge on land having Market value at least to the extent of 100% of loan amount. |
|
Repayment
|
Repayment period will depend on the cash flow and will vary between 3-7 years |
