Landless People for Purchase of Buffaloes for Life Sustenance
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Purpose:
Lease Financial Facility for purchase of Milk producing Animals for landless people.
Eligibility:
The applicant should be having space to keep animal domestically.
Amount:
Maximum limit is Rs.50,000/- against only one personal guarantee acceptable to Bank.
Primary Security:
Leased assets in the name of Bank.
Collateral Security:
One personal guarantee of reputable person, acceptable to the Bank.
Insurance:
Comprehensive Insurance of the Leased animal.
Life assurance of borrower under the Bank’s charge.
Mark-up:
15% per annum
Validity:
Five years
Repayment:
20 equal quarterly installments (Principal and Mark-up) in five years.