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Purpose
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* To finance against pledge of Warehouse / Cold Storage Receipts .
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Eligibility
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* Individual Farmers, SHGs, JLGs, Corporates, Partnership firms and co-operatives of farmers directly engaged in agricultural and allied activities .
* Food and Agro based processing units .
* Processors, Arthias and Traders .
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Nature of facility
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* Cash Credit / Demand Loan .
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Quantum of Finance
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* Minimum of
(i) Market Price,
(ii) Minimum Support Price and
(iii) Value mentioned in the Warehouse Receipt, Less Margin.
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Margin
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* 35%
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Security
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* Primary -
Pledge of Warehouse Receipt.
* Collateral -
- No collateral against Warehouse Receipts issued by Central / State Warehousing Corporations and by other collateral managers having tie-up arrangements with the bank.
- In other cases :
o Third party guarantee of two persons
o Mortgage/Charge on property to the extent of at least 50% of the loan amount.
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Interest Rate
(for Agriculture)
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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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(for other sectors)
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* For other sectors viz., MSME and Non-Priority Sectors, the rate of interest will be as applicable to that sector.
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Processing Charges
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* @ Rs.120/- per lac or part thereof, Maximum Rs.20,000/- .
(CMS charges wherever applicable).
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Documentation Charges
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* NIL .
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Repayment
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* Within 12 months or due date of Warehouse Receipt, whichever is earlier .
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