CentralBank of India-Rural Agri Banking
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Cent Vermicompost Scheme


Purpose

 

* To meet the investment credit / working capital requirement of farmer/s and /or corporates for setting up and running Vermicompost Units.

 

Eligibility

 

* 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.

 

Nature of facility

 

* Term Loan and /or CC as per the purpose.

 

Limit

 

* Based on assessment, maximum upto Rs.2.00 crore.

 

Margin

 

* On loans upto Rs.5,00,000/- : 10%
* On loans above Rs.5,00,000/- : 20%

 

Security

 

* 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.

 

Interest Rate

 

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

 

MCLR + 0.50%
MCLR + 1.00%
MCLR + 1.50%
MCLR + 2.00%

 

Processing Charges

 

* @ Rs.120/- per lakh (0.12%) or part thereof subject to maximum of Rs.20,000/-

 

Documentation Charges

 

Nil

 

Repayment

 

* 5-8 years.

 


For further details, please contact our nearest branch.

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