Maharashtra Bank : Farmer Schemes
MaBank of Maharashtra - Mahabank Kisan Credit Card (MKCC)
Type of Facility : Cash Credit (MKCC)
Purpose : Working capital for:
· 1.Cultivation of crops
· 2,Post harvest Expenses.
· 3.Consumption requirements of farmer household
· 4.Maintenance of farm equipments
·5. Working capital for allied agricultural activities
Eligibility
· All farmers- Individual / Joint landholders
Limit :
Limit for first year - Scale of finance of crop ( as decided by DLTC * Extent of area cultivated + 10% of limit towards post-harvest / household / consumption requirements + 20% of limit towards repairs and maintenance expenses of farm assets. From 2nd year onwards plus 10 % of the limit towards cost escalation / increase in scale of finance for every successive year { 2nd,3rd ,4th and 5th year}
Drawing Power :Drawing limit (D.P.) for each year as worked out as above
Margin :NIL as margin is considered while fixing Scale of Finance
Rate of Interest :
· 1. Limit up to Rs3.00 lakhs: @7% p.a. (fixed) under interest subvention scheme up to one year
·2. Limit above Rs3.00 lakhs: as applicable to Agricultural advances
Security :
· Limit Up to Rs 1 lakh :1)Hypothecation of Crops
· Limit Above Rs 1 lakh:1) Hypothecation of Crops &
Third Party Guarantee/Mortgage of Land
Repayment :
· Kharif- Next March
· Rabi- Next June
· Horticultural crops- Next September
Validity / Renewal :
The KCC limit is valid for 5 years subject to annual review.
Other Terms Conditions :
Insurance for notified crops is available as per Government guidelines from time to time.
Paper requirement :
1.Loan application ie Form No -138, Enclosure – B2
· All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
· No dues certificates of the applicant from surrounding financial institutions including PACS
· Legal search from advocate on Bank’s panel for loans above Rs.1.00 lakh where land is to be mortgaged
2. Guarantee form F-138
· All 7/12, 8 A & PACS dues certificate of the guarantorstra offers various agriculture schemes for farmers, including:
· Tenant Farmers, Share Croppers, Oral Lessees
· SHG's/JLG's of farmers
Mahabank Gold Loan Scheme - Agriculture
Purpose :
To enable farmer to quickly meet their agricultural credit needs i.e both crop production / cash credit for allied agricultural activities & investment credit
Type of Loan:
A] i) Cash Credit for Crop Production- in the form of MKCC ii) Cash credit for allied activities B] Term loans
Eligibility:
Any person engaged in agriculture or allied activities. The applicant should satisfy the KYC guidelines
Amount :
A] i) MKCC against Gold- As per Scale of Finance of crops ii) CC for allied activities- As per actual credit requirement B] Agricultural Term Loan- As per actual credit requirement 2. 75% of market value of gold (for MKCC) & 60% of market value of gold (for TL) 3. Maximum permissible limit under the scheme is Rs3.00 Lakh (aggregate limit for MKCC+CC Allied +TL Agri) **Out of 1,2,3 above whichever is lower
Margin : NIL
· MKCC: 7% p.a. (fixed) upto Rs 3.00 lakh under interest subvention scheme upto one year.
· Cash credit for allied activities: As applicable to agricultural advances.
· Term Loans: As applicable to agricultural advances.
Security :
Pledge of Gold jewelry/ ornaments. Bank shall not grant any advance against bullion/ primary gold.
Repayment
· MKCC against Gold- As per MKCC scheme guidelines
· CC allied activities- Annual review
· TL- Within 60 months depending upon the purpose
Documents & Papers requirement
1. Loan application ie Form No. -138, & Enclosure –B2
2. Revenue records - 8A, 7/12
Scheme for financing farmers for Purchase of Vehicles (Four Wheelers)
Facility
Agricultural Term Loan (ATL)
Purpose
Purchase of brand new Four Wheel vehicles i.e. Car, SUVs, Jeep, Van & other Light Motor Vehicles / Multi Utility Vehicles (MUVs) for supervising agriculture operations / effective management of farm / estate and for transportation of agricultural produce / inputs, labour etc.
Eligibility
Ø The applicant/s should be an agriculturist, cultivating his own land or should be engaged in allied activities such as Dairy, Poultry, sericulture, fisheries etc.
Ø The applicant/s should possess a valid driving license or engage driver possessing valid driving license.
Ø The applicant or any member of the family should not be defaulters to any bank or financial institutions.
Ø Multiple banking is not allowed.
Age Limit:
Ø For individuals: 18 years and above.
Ø Maximum Age at Maturity of loan should not exceed 70 years.
Income & Land holding criteria
Ø The applicant/s should have net annual income of minimum Rs.3.00 Lakh from farm / allied activities / other sources and should own minimum 4 acres of perennial irrigated land or minimum 6 acres of seasonally irrigated land
Loan Amount
Maximum Rs. 10.00 Lakh
Margin
25 % of the cost of vehicle plus RTO charges.
Rate of Interest
1 year MCLR +0.25 %
Security
1) Loan amount upto Rs. 1.00 lakh
Ø Hypothecation of Vehicle.
2) Loan amount above Rs. 1.00 lakh
Ø Hypothecation of Vehicle
Ø Mortgage of Land / Third Party Guarantee
Repayment
Ø The entire loan along with interest shall be repaid within a period of 5-7 years. The repayment would be monthly / quarterly / half- yearly / yearly instalments depending upon generation of income / cash flow.
Ø The repayment shall be linked to harvesting season of the main / cash crop / income generation cycle of the activity.
Insurance
Asset created have to be insured for full value.
Other Terms & Conditions
Ø KYC norms to be followed scrupulously.
Ø CIBIL report/RBI defaulter list should be obtained and verified.
Ø All documents should be submitted in original before disbursement of the loan.
Ø Disbursement through RTGS, only in favour of deale
Scheme for Financing against Warehouse Receipts to farmers
Type of Facility
Short Term Loan (STL)
Purpose
Loan against receipts of warehouse/cold storage is available to provide liquidity to the farmers & prevent them from resorting to distress sale of their produce at the time of harvest.
Valuation
Market Price or Value shown in warehouse receipt whichever is lower
Margin
25% of the valuation
Rate of Interest
· Loans upto Rs 3.00 lakh to Small & Marginal farmers who has availed MKCC limit: @7% p.a. upto six months
· For all others: At Base rate +2%
Security
· Loan upto Rs 25.00 lakh:
1. Charge on Warehouse Receipts being endorsed in favour of bank
2. Lien should be noted with concern warehouse
· Loans above Rs 25.00 lakh:
1. Charge on Warehouse Receipts being endorsed in favour of bank
2. Lien should be noted with concern warehouse
3. Mortgage of land
4. Third party guarantee having sufficient net worth
Repayment
The loan should be liquidated as & when the produce is sold during the interim period not exceeding 12 months
Other Terms & Conditions
Warehouse receipt should be duly endorsed in favour of bank
Scheme for Financing Farmers for Purchase of Land by Small & Marginal Farmers
Type of Facility :Term Loan (TL)
Purpose : Purchase of land for agricultural purposes
Eligibility
· Small & Marginal Farmers (Who owns maximum of 5 acre of non irrigated land or 2.5 acres of irrigated land including land to be purchased)
· Share Croppers/tenant farmers cultivating up to 2.5 acres of irrigated land or 5 acres of unirrigated land
· Entrepreneurs with agricultural background are also eligible (Provided state laws permits purchase of agri lands by non agriculturists)
Amount
A. Lower of the 1, 2 & 3
i. Valuation as assessed by the branch
ii. Circle rate fixed by the state
iii. Registration Value plus
B. Stamp duty & registration charges for sale deed Maximum Rs 20.00 Lakh
Margin
Margin shall be minimum of 20%.
Rate of Interest
ROI shall be as applicable to Agricultural advances
Security
· The land presently owned, if any & also the lands to be purchased out of the bank finance be mortgaged in favour of the bank.
· Hypothecation of Crops grown from time to time on the land
Repayment
7 to 10 years half yearly / yearly installments including maximum moratorium of 24 months
Other Terms & Conditions
· Total land holding including proposed land should not exceed 5 acres for non irrigated land & 2.5 acres for irrigated land.
· Applicant farmers may be encouraged to purchase the land at one place & not in fragmented holdings to step up productivity & save production expenses.
Documents / Papers to be submitted for loan proposal
· Copies of land records regarding land owned & to be purchased, certified by concerned revenue authorities
· Documents of title, Copy of sale agreement, if entered
Paper requirement
1. Loan application ie Form No -138, & Enclosure – B2
· All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
· No dues certificates of the applicant from surrounding financial institutions including PACS
· Legal search from advocate on Bank’s panel for loans above Rs.1.00 lakh where land is to be mortgaged
2. Guarantee form F-138
· All 7/12, 8 A & PACS dues certificate of the
Animal Husbandry
Type of Facility
Term Loan (ATL) &/or Cash Credit (CC)
Purpose
· Purchase of Milch Animals like Cows/Buffaloes etc
· Purchase of Draft Animals like Bullock /Camel etc
· Poultry: Broiler / Layers Farm, Hatchery, Feed Mill
· Sheep/Goat: Rearing
· Construction of Byre, Purchase of equipment / machinery
· Working Capital Requirements.
Eligibility
· All farmers- Individual / Joint landholders
· Tenant Farmers, Share Croppers, Oral Lessees
· SHG’s/JLG’s of farmers
(Who have necessary expertise)
Amount
· Animal: As per NABARD unit costs
· Others:As project Cost / Estimates/ Price quotations.
Margin
· Limit up to Rs 1.00 Lakh- NIL
· Limit above Rs 1.00 Lakh-15% to 25%
(Depending upon purpose & quantum of finance)
Rate of Interest
ROI shall be as applicable to Agricultural advances
Security
· Hypothecation of Animals/Plant Machinery to be purchased
· Third Party Guarantee ( Two) / Mortgage of land.
Repayment
Within 3 to 7 years with suitable monthly/ quarterly/ half yearly installments.
Other Terms & Conditions
Insurance of all animals/birds & equipments/machineries purchased is essential.
Paper requirement
1. Loan application ie Form No -138,&Enclosure – B2
· All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
· No dues certificates of the applicant from surrounding financial institutions including PACS
· Legal search from advocate on Bank’s panel for loans above Rs.1.00 lakh where land is to be mortgaged
· Price quotations/ Plan estimates / Permissions etc. depending up on the purpose of loan
2. Guarantee form F-138
· All 7/12, 8 A & PACS dues certificate of the guarantors.
Farm Mechanization
Type of Facility
Term Loan (TL)
Purpose
· Purchase of Tractors/Power tillers
· Purchase of Combine Harvesters
· Purchase of Threshers & other farm implements
· Purchase of vehicle for transportation of farm input / produce
Eligibility
All farmers- Individual / Joint landholders
Land Holding Criteria
· Tractor up to 35 HP: Minimum 4 acres of perennial irrigated land.
· Tractor above 35 HP: Minimum 6 acres of perennially irrigated land
(Corresponding acreage of dry land or seasonally irrigated land)
· Power tiller: Minimum 3 Acres of perennially irrigated land
Amount
As per cost of machinery along with implements and accessories
Margin
For tractor / Power tiller unit –
1. Loan Up to Rs 1.00 lakh : No Margin
2. Loan Over Rs 1.00 lakh : 15 % -25% of investment cost of unit
Rate of Interest
ROI shall be as applicable to Agricultural advances
Security
1. Up to Rs 1,00,000: Hypothecation of tractor unit
2. Above Rs 1, 00,000:
1. Hypothecation of tractor unit and
2. Third party guarantee (Two)/Mortgage of land
Noting of Bank’s hypothecation charge in the RC book Two blank TTO forms signed by the borrower/s.
Repayment
5 to 9 years, depending upon the purpose of loan
Other Terms & Conditions
· Bank will finance only for those models of tractors which have completed the commercial test from organizations viz Central Farm Machinery Training & Testing Institute (CFMTT) Budni (Madhya Pradesh) or Farm Machinery Training and testing Institute ( FMTT), Hissar
· Registration of the tractor - The tractor should be registered with concerned Regional Transport Authority with bank clause.
· Insurance – Comprehensive insurance should be obtained in respect of assets acquired.
· Bank’s hypothecation should be prominently displayed on the machinery
· Where ever there is tie up arrangement the terms and condition as per MOU be followed.
Paper requirement
1. Loan application ie Form No -138, & Enclosure – B2
· All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
· No dues certificates of the applicant from surrounding financial institutions including PACS
· Legal search from advocate on Bank’s panel for loans above Rs.1.00 lakh where land is to be mortgaged
· Price quotations/ Plan estimates / Permissions etc. depending up on the purpose of loan
2. Guarantee form F-138
· All 7/12, 8 A & PACS dues certificate of the guarantors.
Maharashtra bank Kisan All Purpose Term Loan
Facility
Term Loan (TL)
Purpose
To create hassle free single term loan limit to farmer for all term loan requirements excluding development projects with long gestation periods (more than 3-4 years)
Eligibility
Individuals, Joint/ Group of farmers- owner cultivators & JLG’s/SHG’s engaged in agriculture & allied activities
Amount
· To be based on the investment plan given by the farmer to be undertaken in the next 2-3 years
· The plan can be a combination of investment/ development activities relating to agriculture & allied activities.
· It shall be subject to 5 times of Annual Income (Current pre development stage) of the farmer including allied activities or 50% of value of land mortgaged whichever is lower subject to Maximum of Rs 20.00 Lakh.
Margin
· Small & Marginal Farmers: 5%
· Other Farmers:15%
Rate of Interest
ROI shall be as applicable to Agricultural advances
Security
· Up to Rs 1 lakh- Hypothecation of assets created out of bank finance
· Above 1 lakh (aggregate limit)- Mortgage of land, value thereof shall be at least 200% of limit sanctioned
Repayment
Repayable within 9 years maximum in suitable installments coinciding overall income generation of the farmer, without linking to individual projects.
Insurance
Asset created have to be insured for full value.
Other Terms & Conditions
The farmer should undertake to create/ complete the project within 15/30 days of availing the disbursement.
Paper requirement
1. Loan application ie Form No -138, & Enclosure – B2
· All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
· No dues certificates of the applicant from surrounding financial institutions including PACS
· Legal search from advocate on Bank’s panel for loans above Rs.1.00 lakh where land is to be mortgaged
· Price quotations/ Plan estimates / Permissions etc. depending up on the purpose of loan
2. Guarantee form F-138
· All 7/12, 8 A & PACS dues certificate of the guarantors.
Scheme for construction of farmhouse to Agriculturists
Facility
Agricultural Term Loan (ATL)
Purpose
Construction of farmhouse on agricultural land to facilitate farmers to have dwelling unit at farm which may also take care of other requirement such as storage of agriculture produce & farm implements, cattle shed, drying yard etc. for effective supervision and farm management.
Eligibility
Ø Person/s engaged (singly or jointly) in agriculture and allied activities.
Ø Farmers having minimum irrigated land holding of 2.5 acres
Ø Farmers having sufficient disposable income from his own farm as well as from other sources.
Ø Existing borrowers having good track record for the past 3 years with the Bank and new borrowers who have not availed any agriculture loan facilities from any bank / financial institutions.
Ø Multiple banking not allowed.
Age Limit:
(i) Minimum: The applicant/s must be 18 years old (completed) as on the date of application
(ii) Maximum: 65 years subject to having sufficient disposable income
Age at Loan Maturity should not exceed 75 Years.
Loan Amount
A) Rs. 2.00 lakh upto Rs. 10.00 lakh: - Farmer/s having perennially irrigated land holding of minimum 2.5 acres with sufficient disposable income from his own farm, allied activities as well as from other sources.
B) Rs. 10.00 lakh upto Rs. 50.00 lakh: - Farmer/s having perennially irrigated land holding of minimum 5 acres with sufficient disposable income from his own farm, allied activities as well as from other sources.
Margin
Minimum 25 % of construction cost of proposed farmhouse.
Rate of Interest
ROI shall be as applicable to Agricultural advances
Security
Registered Mortgage of Agril. Land/s * & Farm House constructed thereon.
Ø Hypothecation of standing crop, other movable assets etc.
Ø Two acceptable guarantors having adequate Net Worth
* In case landed property cannot be mortgaged for some reasons, NSC, FDR (of our Bank), Government security or such acceptable security with Margin @ 25 % may be taken as security. Security in the form of Shares shall not be accepted.
Repayment
A) Moratorium period may be allowed upto 18 months or completion of the construction which is earlier
B) Repayment:
Ø The entire loan along with interest shall be repaid in yearly / half yearly / quarterly / monthly instalments along with interest within a period of 15 years including moratorium period.
The repayment shall be linked to harvesting season of the main / cash crop / income generation cycle of the activity.
Insurance
Asset created have to be insured for full value.
Legal aspects
Ø Permission for farmhouse construction should be obtained along with other requirements as per the norms stipulated by the respective State laws.
Ø Title clearance & search report shall be obtained from empaneled advocate for the agricultural land proposed to be mortgaged where farmhouse will be constructed.
Other Terms & Conditions
Ø Conversion of Agriculture land into Non-agriculture (N.A) is not required for construction of farm house subject to compliance of stipulated clause (if any) specified by the respective State Government.
Ø The valuation certificate be obtained from respective Registrar / Sub-Registrar of the area to ascertain the value of land.
Ø Income of co-applicants may be clubbed for deciding quantum of loan & repayment capacity if property held jointly by them or individually.
Ø The farmer should have adequate income, liquidity and capacity to serve the loan installments.
Ø The applicant/s should satisfy the KYC guidelines.
Ø Income certificate issued by Tahsildar / Mandal Revenue Officer / Revenue Department Officer having State Level Gazetted rank can be accepted where income tax returns are not filed by the farmers
Paper requirement
1. Loan application ie Form No -138, & Enclosure – B2
Ø All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
Ø In case of Co-Applicant is salaried or businessmen, the latest salary slips / ITR / Form 16 / Balance Sheet & P/L staments
Ø No dues certificates of the applicant from surrounding financial institutions including PACS
Ø Legal search from advocate on Bank’s panel where land is to be mortgaged for 30 years
Ø Price quotations/ Plan estimates / Permissions / Lay out etc.
Ø Valuation Certificate from Registar / Sub – Registar of the area
2. Guarantee form F-138
Ø All 7/12, 8 A & PACS dues certificate of the guarantors
Ø In case of Guarantor is salaried or businessmen, the latest salary slips / ITR / Form 16 / Balance Sheet & P/L
Horticulture / Plantation Activities
Type of Facility
Term Loan (TL)
Purpose
Cultivation of fruit crops-Mango, Pomegranate, Grapes, Guava etc.
Eligibility
All persons engaged in raising fruit gardens, plantations and nursery crops as owners of land or permanent tenants or as lease holders (for reasonably long period).
Amount
As per NABARD/NHB Unit costs/ Project costs
Margin
· Limit up to Rs 1.00 Lakh- NIL
· Limit above Rs 1.00 Lakh-15% to 25%
(Depending upon purpose & quantum of finance)
Rate of Interest
ROI shall be as applicable to Agricultural advances
Security
· Hypothecation of Crops, equipments, machineries & other assets
· Third Party Guarantee/ Mortgage of Land
Repayment
Within 7-15 years including gestation period. Coinciding with harvesting of crops/marketing of produce.
Subsidy
Subsidy for the eligible projects is available from NHB/NHM
Paper requirement
1. Loan application ie Form No -138,&Enclosure – B2
· All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
· No dues certificates of the applicant from surrounding financial institutions including PACS
· Legal search from advocate on Bank’s panel for loans above Rs.1.00 lakh where land is to be mortiaged
· Price quotations/ Plan estimates / Permissions etc. depending up on the purpose of loan
2. Guarantee form F-138
· All 7/12, 8 A & PACS dues certificate of the guarantors.
Minor Irrigation
Type of Facility
Term Loan (TL)
Purpose
· Sinking a well/ repair or deepening of well
· Sinking a tube well
· Installation of an electric/ diesel pump set
· Drip irrigation system
· Sprinkler irrigation system
· Laying irrigation channels/ pipelines
· Farm pond/water tank
· Composite minor irrigation which includes more than one purpose mentioned above
Eligibility
All farmers- Individual / Joint landholders.
Amount
· For new dug wells/pipeline/pump sets: As per the NABARD Unit costs/ Estimates
· For equipments/machinery: As per price quotations.
Margin
· Limit up to Rs 1.00 Lakh- NIL
· Limit above Rs 1.00 Lakh-15% to 25%
(Depending upon purpose & quantum of finance)
Rate of Interest
ROI shall be as applicable to Agricultural advances
Security
· Hypothecation of Crops, equipments, machineries & other assets
· Third Party Guarantee/ Mortgage of Land
Repayment
7 to 11 years, depending upon the repaying capacity
Other Terms & Conditions
· Proposed well should be located in white watershed area. It should not be in dark watershed area.
· GSDA certificate for digging of new well in Grey Watershed is required.
· Insurance of assets created out of banks finance to be done.
Paper requirement
1. Loan application ie Form No -138, & Enclosure – B2
· All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
· No dues certificates of the applicant from surrounding financial institutions including PACS
· Legal search from advocate on Bank’s panel for loans above Rs.1.00 lakh where land is to be mortgaged
· Price quotations/ Plan estimates / Permissions etc. depending up on the purpose of loan
2. Guarantee form F-138
· All 7/12, 8 A & PACS dues certificate of the guarantors.
Mahabank Kisan Tatkal Scheme
Facility
Term Loan (TL)
Purpose
For instant credit for farming community to meet emergencyrequirements
Eligibility
Individual Farmers / Joint borrowers (not exceeding 4 farmers) who are existing KCC holders having satisfactory track record of at least 2 years
Amount
Minimum- Rs 5000/- Maximum- Rs 50000/- (Subject to ceiling at 50% of KCC limit / 25% of annual income)
Margin
NIL
Rate of Interest
ROI shall be as applicable to Agricultural Advances
Security
Existing Security obtained for KCC to be continued.
Repayment
3 years in half yearly / yearly installments coinciding with harvest of the crop
Other terms & conditions
The loan is to be cleared in full if a fresh/ enhanced limit is sought in the subsequent year based on revised KCC limit.
Paper requirement
1. Loan application ie Form No -138,&Enclosure – B2
· All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
· No dues certificates of the applicant from surrounding financial institutions including PACS
· Legal search from advocate on Bank’s panel for loans above Rs.1.00 lakh where land is to be mortigaed
2. Guarantee form F-138
· All 7/12, 8 A & PACS dues certificate of the guarantors.
Financing Solar Energy Based Pumpset Loans
.Type of Facility
Term Loan (TL)
Purpose
Installation of Solar water Pumping System
Eligibility
Farmer should have adequate source of water
For wells, it should have sufficient recouping capacity to irrigate the area
Farmer should have own economic land holding with minimum of 10 acres.
Components
Solar PV Panel
One of the following motor pump sets compatible with the photovoltaic array:
Surface mounted centrifugal pump set
Submersible pump set
Floating pump set
Any other type of motor pump set after approval from MNRE
Amount
75% of the cost of the equal.
Margin
Upto Rs. 1.60 lakh - Nil
Above Rs.1.60 lakh - Margin shall be minimum of 25%. If subsidy is available, same can be considered as margin.
Rate of Interest
Up to Rs.10.00 lakh : 1 Year MCLR + BSS@0.50% + 2.00%
Above Rs.10.00 lakh : 1 Year MCLR +BSS@0.50%+ 3.00%
Security
Upto Rs. 1.60 lakh - Hypothecation of Equipment
Above Rs.1.60 lakh- Hypothecation of Equipment & Third Party Guarantee/ Mortgage of Land
Repayment
Minimum 5-7 years
Paper requirement
1. Loan application ie Form No -138, & Enclosure – B2
All 7/12, 8 A, 6 D extracts, Boundaries of the applicant
No dues certificates of the applicant from surrounding financial institutions including PACS
Legal search from advocate on Bank’s panel for loans above Rs.1.60 lakh where land is to be mortgaged
Copy of Quotations / Estimates
2. Guarantee form F-138All 7/12, 8 A & PACS dues certificate of the guarantors.
Maha Krishi Samrudhi Yojana (MKSY)
Target Group
Food and Agro Based industries & Agri Infrastructure Projects Including Startups
Eligibility
Individual, Proprietorship, Partnership Concern, FPCs, Private Limited Companies, Public Limited Companies and Limited Liability Partnership concern.
All Advances to new/existing (including take over from other Banks/FIs) food and Agro-processing units under “Agriculture”
Purpose
Financing new project/expansion of existing unit i.e. acquisition/construction of Land and Building and Plant and machinery based on the project cost including takeover of existing unit.
To finance the borrower units with cluster approach on PAN India basis
Type of Facilities
Term loan, Working Capital / Export Credit like Pre-Shipment and Post Shipment / Bill purchase / Bill discounting etc, LCs, BGs
.Quantum
Minimum- Rs. 10.00 Lakh & above
Maximum- upto Rs. 100.00 Crore
Margin
Term Loan: Minimum 25%
Working Capital: -Stocks & Book Debt – Minimum 25%.
Credit Rating
Internal Credit Rating is applicable for all accounts with aggregates exposure (Fund + Non-Fund) of above Rs. 25.00 Lakh and upto Rs. 25.00 Crores.
External Rating is applicable for all accounts with aggregates exposure (Fund and Non-Fund Based) of above Rs. 25.00 Crore. (Minimum Credit Risk rating shall be “BBB”)
ROI
As per Risk Based Pricing
Minimum - 7.35% p.a.
Maximum -8.30% p.a.
Concession for CMR borrowers in ROI
Additional concession @ 0.50 % shall be allowed for borrowers having CMR 1 & 2
Additional concession @ 0.25 % shall be allowed for borrowers having CMR 3 & 4
With above all concessions in ROI, effective ROI should be at par with MCLR / RLLR
Repayment
Term Loan: Maximum period upto 7 Years (Including Moratorium Period).
Working Capital: Repayable on demand
.Review/ Renewal
Working Capital: Review / Renewal at every year
Term Loan: Yearly Review of Term Loan of Rs.25.00 Lakh and above
Processing Fee
NIL Processing Feefor borrowers / units with CIBIL MSME rank CMR-1 to CMR- 2
50% Concession in applicable Processing Fee for borrowers / units with CMR 3 and CMR-4
25 % Concession in applicable Processing Fee for borrowers / units with CMR 5 and CMR-6 and Unrated.
Financing Solar Home Lighting Scheme
Type of Facility
Term Loan (TL)
Purpose :
Purchase of brand new solar lighting system with necessary accessories for usage in Agro Processing units
Eligibility
Small & Marginal farmers
Share Croppers / Tenant Farmers
Agri-Entrepreneurs
Components
Model I One White LED Lumaniare
Model II Two White LED Lumaniare
Model III Three White LED Lumaniare & One DC Fan of wattage upto 10 W
Model IV Four White LED
Amount
80-85% of the project cost including the cost of accessories
Margin
Upto Rs. 1.60 lakh - Nil
Above Rs.1.60 lakh – 15-20% of the cost of equipment including cost of accessories
Rate of Interest
Up to Rs.10.00 lakh : 1 Year MCLR + BSS@0.50% + 2.00%
Above Rs.10.00 lakh : 1 Year MCLR +BSS@0.50%+ 3.00%
Security
Upto Rs. 1.60 lakh - Hypothecation of Equipment & Accessories
Above Rs.1.60 lakh – Hypothecation of Equipment & Accessories & Third Party Guaranty/ Mortgage of land.
Repayment:
Minimum 3-5 years
Paper requirement
Applicant: -Loan application
1.All 7/12, 8 A, 6 D extracts, Boundaries of the applicant
2.No dues certificates of the applicant from surrounding financial institutions including PACS
3.Legal search from advocate on Bank’s panel for loans above Rs.1.60 lakh where land is to be mortgaged
4.Copy of Quotations / Estimates
5.Guarantor for loans above Rs.1.60 lakh : -
6.Guarantor form
7..All 7/12, 8 A & PACS dues certificate of the guarantors
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