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Purpose |
To meet the Pre-harvest, Post-harvest credit requirement and finance against pledge of agricultural produce of JLGs of farmers |
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Eligibility |
Joint Liability Groups of Small and Marginal Farmers, Tenant Farmers, Oral Lessees, Share Croppers and Individuals taking up farm activities. |
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Nature of facility |
Term Loan/CC/Demand Loan, depending upon the purpose. |
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Limit |
For individual member of the group – Maximum Rs1.00 lakh. For JLG as a group – Based on the available cultivable area of each member of the JLG and the activity undertaken, maximum Rs5.00 lakh per group. |
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Margin |
On loans uptoRs1.60 Lakh : Nil On loans above Rs1.60 Lakh : 10% |
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Security |
Primary - Hypothecation of crops and assets created out of bank's finance. For limits above Rs1 lakh, charge on agricultural land. |
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Interest Rate |
UptoRs3,00,000/- |
MCLR + 1.35% |
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Processing Charges |
* Upto Rs 3 Lakh/- : Nil * Above Rs 3 Lakh/- : @0.30 % |
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Upfront Fee |
Upto Rs 3 Lakh/- : NIL Above Rs 3 Lakh/ - : 50% of 1.25% (i.e. 0.625%) |
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Repayment |
Depending upon duration of crop and realization of sale proceeds. |
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