PURPOSE

Providing short term working capital for Ag. & Allied Agri.Activities, other domestic consumption requirements and other term credit needs.

-To meet financial requirement for rural housing.

ELIGIBILITY

Only our existing land owned borrowers, who have been availing any farm advance against mortgage of Ag. Land and having no NPA record for last 3 years.

MARGIN

Upto Rs.2 lac – Nil

Above Rs.2 lac – 10%(Cost of labour may be treated as margin in C/C Limit only)

NATURE OF LOAN & LOAN AMT.

C/C/ and Term Loan

-5 Times average annual Income from Agri. & Allied activity

                                   OR

 -50% of  value of land to be mortgaged which ever is less.

 - Maximum Rs.10 lac.

INTT. RATE

Upto Rs.50,000-                                          9%

Above Rs.50000-upto Rs.200000/-           11%

Above Rs.200000-                                     12%

SECURITY

Upto Rs.25000/- Hyp. of crop / Assets created out of loan Amt.

Above Rs.25000/- Hyp. Of crop/ Assets created out of loan Amt. and mortgage of Ag. Land.

                                       OR 

Third party suitable guarantee.

REPAYMENT

-Agreegate credit into the account during 12 months period should be equal to maximum outstanding.

-No drawl should remain O/s for more than, 12 months.

GENERAL

Value of land will be the lowest of :

(a) As mentioned in Application for Agricultural Credit obtained from borrower, at least three years earlier;

(b) As mentioned in Confidential Report of borrower, compiled at least three years earlier;

(c) As per conservative recent market value.

(d) As per recent sale price mentioned in sale deed at Sub-Registrar Office.

-          

Ref.:-Cir. No.

00/07 dated 30-11-2007