CentralBank of India-Rural Agri Banking
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Cent Poly House, Green House, Shade Net House Scheme

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.

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