Drip Irrigation Facility for sugar cane cultivation

Purpose For installation of Drip Irrigation facility to sugar cane cultivating customers
Eligibility Agriculturist who is having irrigated land& regular water source
Quantum Loan 75% project cost ORRs 35000 per acre OR as per NABARD unit cost, whichever is lower
Margin 25% project cost
Rate of Interest Upto Rs 2.00 lakh – 12 % pa,
above Rs 2.00 lakh- 12.50% pa
Repayment Period 7 yearly installments
Security a) Hypothecation of the drip irrigation unit.
b) Charge Creation OR mortgage of agricultural land as per existing guidelines.
Co-oblignat/ Surety Solvent third party / ies with sufficient net worth acceptable to the Bank