LOAN PRODUCTS AT A GLANCE:

1) FARM SECTOR LOANS
2) NON FARM SECTOR LOANS
3) RURAL HOUSING LOANS
4) SHORT TERM LOANS
5) DEPOSIT LINKED LOANS

 

1)Farm Sector Loans:

Classified into 3 categories based on the income generation of the project proposed :

a) Scheme loans with repayment period upto 5 years: Concessional Rate of Interest – 6%

b) Scheme loans with repayment period above 5 years and upto 9 years : Interest rate – 9.6%

c) Scheme loans with repayment period above 9 years : Interest Rate: 9.9%

 

SALIENT FEATURES OF  LOANS

 

 

Sl no. Name of scheme Total Financial Outlay Purposes Repayment Period Grace period Borrowers’ Margin Loan eligibility/Valuation norms
 

Farm Sector Loans
1 Normal lending (Ordinary Loan) Rs.3.0 lakhs All agrl.purposes 5 to 10 yrs Nil Nil 50% of land value or 8 times post development net income.
2 Farm sector  scheme Rs.1 crore All agrl.purposes (LD, MI, FM, P&H, Floriculture, Medicinal plants, AH, Fisheries /ornamental fisheries, Bio-gas, Apiary, Agrl. Machinery /processing equipments, Godowns etc.) 3 to 15 yrs Up to 7 yrs depending on purpose 5-15% 50% of land value or 8 times post development net income.
3 Agrl. Land purchase scheme (Under ARF(FS) ) Rs. 1 crore Purchase of agricultural land Up to 12 yrs Up to 24 months. 20% 80% of land value where additional security is offered or 60% of land value where no additional security is offered.
4 Homestead farming

( Under ARF(FS) )

 Rs. 5.0 lakhs All agrl. purposes 3 – 10 yrs Nil Nil 50% land value
5 Agri-clinic and agri-business  centers Rs. 20.0 lakhs To create self-employment opportunities to unemployed agricultural graduates and to provide expert advice and services to farmers. 5-10 years 2 years Up to 5 lakhs –Nil

Above 5 lakhs- 10-15%.

 50% of land value
6 Two-wheelers (Under ARF (FS)) New vehicles only. 85% of total cost. To agriculturists for cost effective transportation. 2-5 yrs Nil 15% 100% of land value + hypothecation of vehicle.
7 Joint Liability Group loan Rs. 50,000 per person All purposes except housing. 3 yrs to 5 yrs Nil Nil 100% land value
 

Non Farm Sector Loans

 
8 Enterprise loan scheme Rs. 1 crore All manufacturing, processing, marketing and service activities that are income generating or employment generating. 2- 10 yrs. Up to 18 months Nil 100% of land value + hypothecation of assets created out of the loan.
9 Small Water and Road Transport Operators scheme Rs.50.0 lakhs Public transport vehicles except two wheelers, including refrigerated vans, bulk carriers for edible oil, petroleum etc. 2- 5 yrs. 4yrs max for second hand vehicles Up to 6 months 15% for new vehicles and 25% for second hand vehicles. 100% of land value + hypothecation of vehicle for new vehicles and 50% of land value + hypothecation of vehicle for second hand vehicle.
10 Second hand vehicles (Except two wheelers)

(NABARD)

 Rs 5.0 lakhs Public transport vehicles except two wheelers, including refrigerated vans, bulk carriers for edible oil, petroleum etc. 4 yrs max. For public transport vehicles with valid route permit, up to 5 yrs. Nil 25% 50% of land value + hypothecation of vehicle.
11 SCC scheme (Swarozgar Credit Card) Rs.100000 As in ELS scheme 5 yrs for block and 1 yr for working capital Nil Nil 100% land value. Total of all loans should not exceed 100% of land value.
12 Education loans Rs.10.0 lakhs inside India. Rs 20.0 lakhs abroad. All approved courses. Up to 10 yrs. Up to 1 yr after completion of study. 15% Two third of the land value. (66.66%)
 

Housing Loan

 
13 Housing-construction of new house/ purchase Rs. 25.0 lakhs for new house. Construction of new house, purchase of house Up to 15 yrs for construction/purchase of new house Construction/purchase of new house-Up to 18 months, 20% up to Rs. 200000/- and 25% above Rs. 200000/- 100% value of additional security or where the primary security is valued, 50% of value of primary security+Rs. 200000.0 max of estimated cost of building.
14 Housing-Renovation/Extension Rs. 10.0 lakhs Renovation/extension of house 7 yrs Nil 20% up to Rs. 200000/- and 25% above Rs. 200000/- 100% value of additional security or where the primary security is valued, 50% of value of primary security.
Non Farm ST loan schemes
15 Gold loan (Pledge) Rs.15.0 lakhs Crop loan, farm purposes Max 1 yr. Nil Nil 70% to 90% of (market value/general manager minus Rs. 100.0).
16 Loan for consumer durables Rs.1.0 lakh Purchase of any consumer durable 3 yrs Nil 10% 70% of land value
17 Traders loan Rs. 2.0 lakhs Established trading activities. 2 yrs Nil Nil 100 % land value
18 Second hand vehicles (Except two wheelers)

(NCDC)

 Rs. 5.0 lakhs Public transport vehicles except two wheelers, including refrigerated vans, bulk carriers for edible oil, petroleum etc. 4 yrs max. For public transport vehicles with valid route permit, up to 5 yrs. Nil 25% 50% of land value + hypothecation of vehicle.
19 CARD Bank marriage assistance loan Rs. 500000.0 Purchase of gold ornaments 24-60 months Nil Nil 50% value of land offered as security.
20 Cash Credit facility Rs. 500000.0 To meet financial requirements 1 year Nil Nil 1. 60% of value of land

2. Two salary sureties with take home pay of not less than Rs. 5000/-

3. Rs. 50000.0 only if own salary surety with Rs. 10000/- basic pay and take home pay of Rs. 8000/-

4. 75 % of maturity value of NSC, GOI bonds and 75% surrender value of LIC policies.
21 Rubber slaughter tapping Rs. 720000 To undertake rubber slaughter tapping for experienced persons 3 years nil 25% 50% value of property offered as security.
Fixed Deposit Linked Schemes
22 Pilgrimage Loan Scheme Rs.1,00,000 To meet expenses of pilgrimage tourism 1 year 2 months Nil 75% value of property offered as security.
23 Personal Loan Scheme Rs.1,00,000 To meet various financial requirements 1 year nil Nil 100% value of property offered as security.

 

 

 

 

 

 

AGRL. DEV. MANAGER (F&I)