Agricultural Term Loan Scheme
| Features | ||
|---|---|---|
| Margin | : | No margin up to `10, 000 15% to 25% above `10, 000 |
| Eligibility | : | All individuals, groups of individuals, and corporate entrepreneurs who have experience in the line of activity |
| Security | : | Term loan Where movable assets are created: Up to `25000: Hypothecation of assets Over `25000: Hypothecation of assets and mortgage or declaratory charge over farm lands or 3rd party guarantee. Where movable assets are not created: Up to `10000: DP Note, DP Note delivery letter Over `10000: Mortgage of farmlands or 3rd party guarantee |
| Disbursement | : | In Instalments according to the progress of work and amount payable direct to suppliers wherever moveable assets are financed |
| Repayment | : | Minimum of 3 years with a maximum repayment period of 15 years including the gestation period depending on the type of schemes and in line with NABARD norms |
| Insurance | : | Waived up to `10, 000 |
