Eligibility:    

Resident Self Cultivator having Agriculture Land measuring 5 acres to maximum 50 acres.

Amount:        Maximum Rs.500,000/-.

Equity:           20% of the cost of machinery, tool and implements.

Security:   

1.        Lease Assets/implements (The vendor will issue receipt in the name of Bank).

2.        Charge on Agriculture Land through Agri. Pass Book.

3.        One personal guarantee of reputable person. Two written satisfactory market checking

         reports.

Margin on Collateral Security:

• 50% Margin on Agri land assessed by Surveyor.
• 25% margin on Agri land as per value in revenue record.
• The maximum amount of Finance will be allowed upto 75% of the Oast Bai Value of land (Oast Bai is verified by Revenue Officer)

Insurance:  

The Lessee will arrange comprehensive insurance of assets.  Life assurance of lessee under the

Bank’s charge.

Mark-up:       15% per annum.

Repayment: 8 equal half yearly installments (within four years).