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Purpose
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* To provide loan for purchase of estates growing traditional plantation crops.
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Eligibility
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* The purchaser should have yielding estates and should also be in a position to rejuvenate the Estate proposed to be purchased.
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Nature of facility
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* Term Loan repayable within 9 years.
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Quantum of Loan
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* Upto Rs.2.00 crores. Loans of more than Rs.2.00 crores can also be considered on merit.
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Margin
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* 50% on purchase consideration or market value whichever is higher.
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Security
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* Primary :
- Charge on property to be purchased.
- Hypothecation of Plantation crops raised on the land/estate.
Collateral :
- Charge on other landed/residential property.
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Interest Rate
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Upto Rs.50,000/-
Above Rs.50,000/- upto Rs.5.00 lacs
Above Rs.5.00 lacs upto Rs.25.00 lacs
Above Rs. 25.00 Lakhs
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MCLR + 0.50%
MCLR + 1.00%
MCLR + 1.50%
MCLR + 2.00%
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Processing Charges
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* @ Rs.120/- per lac or part thereof, Maximum Rs.20,000/-.
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Documentation Charges
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* NIL
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Repayment Period
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* Within 9 years.
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For further details, please contact our nearest branch.
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