Purpose:                  

Lease Finance Facility for purchase of Milk producing animals for Dairy Farming.

Eligibility:                

The applicant should be well experienced and having its own well constructed Live Stock Farm, Semen Production Unit.

Amount:                   

In case of Lease Finance 80% of cost of assets (animals/equipment/vehicle/machinery) (Maximum Facility can be granted upto 50% of forced sale value of property)

Primary Security:

Leased assets in the name of Bank.

Collateral Security:

  I.  Charge on Agriculture Land through Agri. Pass Book OR Charge on urban immovable

     property through equitable/registered mortgage OR Liquid security in the shape Bank’s Fixed  

     Deposited Receipts/DSC/NSC or Regular Income Certificates.

  II.  One personal guarantee of reputable person. ACO along with Regional Chief can waive this

      condition.

Margin on Tangible Security:

50%-25 margin on landed property (Agri/Urban). & 25% margin in case of liquid security.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:               

• Comprehensive Insurance of the Lease/Hypothecated stock at borrower’s cost.
• Life assurance of borrower under the Bank’s charge.

Mark-up:                  

15% per annum.

Validity:                   

Five years in case of Lease Finance Facility.

Repayment: