CENT AGRI-FARMHOUSE SCHEME
Objective
To provide finance for construction, repair, renovation and Extension of Agri-farmhouses
Eligibility
Existing borrowers having good track record for the past 3 years with the Bank and new borrowers who are not defaulters of any bank and/or financial institution.
Quantum of loan
Depending upon repayment capacity, subject to 80% of Project cost.Minimum Rs2 lac and maximum Rs25 lac.For repairs/renovation/extension maximum Rs5 lac.
Margin
20% of the project cost
Period
Maximum 15 years, including moratorium period, if any
Security
Primary – Mortgage/Charge on the assets being financed.
Collateral – Extension of charge on land already mortgaged with the bank; Hypothecation of existing and future crop on the charged land and livestock
Guarantee
Personal Guarantee on loans above Rs5 lac.
Interest
UptoRs3,00,000/- - MCLR + 1.35%
Above Rs3.00 lakh to Rs10.00 lacs- MCLR + 2.50%
Above Rs10.00 lakhs - MCLR + 3.00%
UpFront Fee
Upto Rs 3 Lakh/-: NIL
Above Rs 3 Lakh/- :50% of 1.25%(i.e 0.625%)
Repayment Period
Maximum 15 years, including moratorium period.