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Purpose
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* To meet the investment credit / working capital requirement of farmer/s and /or corporates for setting up and running Vermicompost Units.
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Eligibility
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* All Farmers, SHGs, JLGs of farmer's including tenant farmers, share croppers, Proprietorship/Partnership Firms/Pvt./ Public Ltd. company/ies. etc., Non Government Organizations (NGOs), Cooperatives, Municipal Corporations, Federations, Agricultural Produce Marketing Committees, Marketing Boards and Agro Processing Corporations.
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Nature of facility
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* Term Loan and /or CC as per the purpose.
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Limit
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* Based on assessment, maximum upto Rs.2.00 crore.
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Margin
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* On loans upto Rs.5,00,000/- : 10%
* On loans above Rs.5,00,000/- : 20%
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Security
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* Primary - Hypothecation of assets created out of bank's finance.
* Collateral
- No collateral for limit upto Rs. one lac.
- For limits above Rs. one lac, charge on property.
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Interest Rate
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Limit 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 lacs
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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 lakh (0.12%) or part thereof subject to maximum of Rs.20,000/-
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Documentation Charges
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Nil
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Repayment
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* 5-8 years.
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