Objective
To provide need based financial assistance for undertaking Protected Farming of various high quality commercial horticulture crops viz. Flowers, Vegetables, Fruits, Medicinal Plants, Spices etc.
Activity/Purpose
Construction/erection of Green Houses, Poly Houses, Shade Nets etc., purchase and installation of necessary components and working capital.
Eligibility
Farmers, Groups of farmers, SHGs, JLGs, Corporates including farmers’ Producer companies of individual farmer, Partnership firms and Cooperatives of farmers directly engaged in Agricultural and allied activities.
Quantum of Loan
Up to 80% of the project cost, maximum Rs.5.00 crore. For SHGs and JLGs the maximum loan will be Rs.20 lakh and Rs.5.00 lakh respectively.
Margin
Up to Rs.1.00 lakh : Nil
Above Rs.1.00 lakh : Minimum 20% of the Project cost.
Rate of Interest
Loan Classified under Direct Agriculture:
| Limit |
Rate of interest % |
| Upto Rs.50,000/- |
MCLR + 0.50 |
| Above Rs.50,000/- to upto Rs.5 lakh |
MCLR + 1.00 |
| Above Rs.5 lakh to upto Rs.25 lakh |
MCLR + 1.50 |
| Above Rs.25 lakh |
MCLR + 2.00 |
Loan Classified under Indirect Agriculture:
| Limit |
Rate of interest % |
| Upto Rs.1.00 crore |
MCLR + 1.50 |
| Above Rs.1.00 crore |
As per credit rating |
Security
EM/Charge on the land of the Project and Hypothecation/charge on assets created out of bank’s finance.
Extension of charge on land/other assets already mortgaged/ charged with the bank for other credit facilities.
Guarantee
Personal guarantee of all the directors/partners. In case of advances of more than Rs.10 lakh to individuals, third party guarantee to be obtained.
Processing Charges
Up to Rs.25,000/- : Nil
Above Rs.25,000/- : @ Rs.120/- per lakh (0.12%) or part
thereof, subject to a maximum of Rs.20,000/-
Documentation Charges
Nil
Inspection Charges
Up to Rs. 2 lakh : Nil
More than Rs.2 lakh up to Rs.5 lakh : Rs.200/-
More than Rs.5 lakh up to Rs.50 lakh : Rs.500/-
Above Rs.50 lakh : Rs.1000/-
Repayment Period
Maximum 7 years including moratorium of 3 to 12 months.