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Purpose
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* To enable farmers to quickly meet their agricultural credit needs i.e., both for crop production and also for meeting investment credit needs for agriculture and allied activities.
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Eligibility
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*Any person engaged in agriculture or allied activities.
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Nature of facility
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* Short-term production credit -
Either Cash Credit / Over Draft or Demand Loan repayable within one year.
Term Loans* -
Repayable within 60 months. *(Not granted against Silver)
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Limit
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* For crop production, the quantum of loan will be assessed on the basis of Scale of Finance.
* For other purposes, on the basis of actual credit requirement.
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Margin
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Gold
- CC/OD limit and Short Term Loans repayable within one year
- Term Loans repayable in more than one year
Silver Jewellery
- CC/OD limit and Short Term Loans repayable within one year
- Term loan is not permitted
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20%
40%
40%
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Maximum loan per gram of gold
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* Rs.2200/- at present. (subject to periodic review based on the market price of gold)
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Security
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* Pledge of gold ornaments and/or gold coins* of 22 karat or higher purity and silver jewellery.
*(Gold Coins weighing Maximum 50 grams per borrower will be accepted).
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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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* NIL
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Documentation Charges
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* NIL
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Repayment Period
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* Cash Credit / Overdraft :
Limit will be valid for 5 years, subject to annual review.
* Demand Loan :
Repayment will be based on income generation, within a maximum period of 18 months.
* Term Loan :
Within a maximum period of 5 years.
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For further details, please contact our nearest branch.
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