Agri Demand Loan

Agri Demand Loan

Purpose To meet their day to day financial obligations arised due to outbreak of Covid-19.
Eligibility All existing agriculture loan borrowers.
Target Group Small/Marginal/Other farmers
Scale of finance A) For Horticulture Crop Rs.25,000/- per acre subject to maximum of Rs.2,50,000/-.
B) For field crops:
a. Rs.15,000/- per acre of irrigated land subject to maximum of Rs.1,50,000/-.
b. Rs.10,000/- per acre of dry land, subject to maximum of Rs.1,00,000/-
Rate of Interest 13.00% pa& OD @15.00%pa
Repayment Period Three to five yearly installments to coincide with harvesting/marketing of agriculture produce.
Interest Interest will be capitalized half yearly. Interest shall be recovered along with installment.
Security Banks existing charge on landed property to continue.
Co-oblignat/ Surety Creditworthy customer shall be obtained.