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.
Based on viability of the project and repaying capacity of the borrower/s.
Margin
For loans uptoRs1.60 lakh : Nil
For loans above Rs1.60 lakh and uptoRs5 lakh : 10%
For loans above Rs5 lakh and uptoRs10 lakh : 15%
For loans above Rs10 lakh : 20%
Rate of Interest
|
Limit |
Rate of interest % |
|
UptoRs3,00,000/- |
MCLR + 1 |
|
AboveRs3.00 Lakh to uptoRs10 lakh |
MCLR + 2.30 |
|
Above Rs10 lakh to uptoRs100lakh |
MCLR + 2.90 |
|
Above Rs100 lakh |
As per rating of Borrower |
Processing Charges
Upto Rs 3 Lakh/- : NIL
Above Rs 3 Lakh/- : @0.30%
UpFront Fee
Up to Rs 3 lakh : Nil
Above Rs 3 lakh/- : 50% of 1.25%(i.e 0.625%)
Security
For Loans up to Rs 1.60 Lac:
Primary : Hypothecation of Livestock and other assets Created out of Bank finance.
Collateral: (Aggregating all Agricultural loans) For Loans up to `1.60 Lac: - Nil
For Loans above `1.60 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