Eligibility:    

Resident Self Cultivator having Agriculture Land minimum 5 acres and maximum 50 acres.

Amount:        Maximum Rs.500,000/-.

Equity:           20% of the cost of Vehicle will be paid by the borrower.

Security:      

 1.         Leased Vehicle (to be registered 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 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 Vehicle. Life assurance of lessee under the

Bank’s charge.

Mark-up:       15% per annum.

Repayment: 10 equal half yearly installments (within five years).