DRIP IRRIGATION FACILITY - Karnataka Vikas Grameena Bank Loan Product

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