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 project will be paid by the borrower.

Security:    

1.         Lease Assets i.e. Engine, Tube well and other related 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 acceptable to Bank.

4.         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 implements/assets. Life assurance of

lessee under the Bank’s charge.

Mark-up:       15% per annum.