Kissan Dost Cold Storage Finance Facility
|
|
Purpose
The purpose of this loan is to store fruits & vegetables even during off seasons. By establishment of Compartmentalized cold storage units, where perishable commodities can be stored for a longer duration of time period to obtain a year–round supply and reduce post harvest losses.
Eligibility
The applicant should be a genuine grower and should have a suitable land to establish a Compartmentalized Cold Storage. The applicant should not be a defaulter of any other Bank and the land under cultivation should be free from any encumbrance.
Nature & Amount of Facilities
MEDIUM TERM DEMAND FINANCE FACILITY: For purchase of Pre fabricated Insulated building in panels .
MEDIUM TERM
LEASE FINANCE
FACILITY: For purchase & installation of Ammonia Compressor/Condenser, Evaporator, Pschrometer, Hydrothermo graph, Handheld Infrared Thermometer, Set of sensors Electric operated fork operator, Standby generators (20 KVA), Misc Accessories like a pair of diffuser etc.
Disbursement:
his condition if they deem the borrower to be credit worthy.
Margin on Security
Landed property
IN CASE OF OAST BAI: The maximum amount of Finance will be allowed upto 75% of
the Oast Bai Value of land (Oast Bai is verified by Revenue Officer)
IN CASE OF THE FORCED SALE VALUE IF EVALUATED BY PBA /BANK’S APPROVED SURVEYOR
Maximum Amount Of Finance Will Be 50% Of The Forced Sale Value, Evaluated By PBA/Bank’s Approved Surveyor.
Insurance
Comprehensive Insurance of the Leased/Hypothecated stock at borrowers cost assigned to BOP.
Life assurance of the borrower under the bank’s charge assigned to BOP.
Mark up
For Lease & Demand Finance 18% Per Annum
Recovery of Mark up
In case of Lease Finance & Demand Finance the mark up will be recovered along with the installment on quarterly basis. First six months will be treated as grace period in case of Demand finance.
Validity
Five years in case of Lease Finance Facility. Five years in case of Demand Finance Facility with grace period of one year.
Repayment
16 equal quarterly installments (Principal and Mark up) in case of Lease/Demand Finance Facility.