Purpose | Composite loan for stall fed Goat/sheep rearing for unit size of 25+1 (Does/Ewes: Buck/Rams) or 50+2. |
Eligibility | Existing /new customer |
Quantum Loan | 75 % project cost or 3 lakhs or 6 lakhs as the case may be (Cost of the Does/Ewes @ Rs 6000 per animal & cost of Buck/Ram @ Rs 8000 per animal & including shed cost, feed cost etc.,) |
Margin | 25% |
Rate of Interest | 12.50% pa |
Repayment Period | Repayable in 20 quarterly installments, after a gestation period of 6 months i.e., 1st installment falling due on exactly 9 months from the date of 1st release. (total period 66 months) At the time selling the goats/sheep, the 75% of sale proceeds of the animals should be credited to the loan account. |
Security | Primary security in the form of hypothecation of animals, equipments etc and mortgage of owned land and building which are directly connected to the activity. |
Co-oblignat/ Surety | Solvent third party / ies with sufficient net worth acceptable to the Bank shall be obtained |