Kissan Dost Lease Finance Facility


Particulars Bank’s Policy
Purpose The scheme has been designed to provide financial assistance to farmers for purchase of Agri implements/Machinery etc. exclusively for agri related activities including but not limited to the following:
  1. • Tube wells & Turbines
  2. • Trolleys
  3. • Threshers
  4. • Ploughs and other implements
  5. • Pick up vans
  6. • Tractors for commercial use (agri related activities)
  7. • Bio gas plant
  8. • Any other Agri related asset
  9. • Islah e Arazi
  10. • Land Levelling
What is Eligibility Criteria
  • Resident/Self Cultivator having owned Agriculture Land minimum 05 Acres and maximum 50 Acres
  • Should not be defaulter of any financial institution.
  • Should have security free of all encumbrances to be offered as collateral (except for encumbrances of BOP)
  • Age: 21-65 years (till maturity)
Amount of Facility Maximum Rs 10. Million
The facility shall be provided considering the land holding and cash flows of the borrowers in order to justify the requested amount of finance and secure the bank’s interest.
Markup Fixed rate of 15% p.a.
Security
  • Leased assets (Registration of Tractors/Vehicles and purchase receipts of other equipment/machinery in the name of the Bank)
  • Charge on agriculture land through Agri Passbook
OR
  • Charge on Urban immovable property through equitable/ registered mortgage
  • Bank’s approved legal counsel clearance and the Bank’s and PBA’s approved surveyor’s assessment
OR
  • Liquid security in shape of Bank’s Fixed Deposit Receipt / DSC/NSC or Regular Income Certificate
  • One Personal Guarantee of an individual having adequate tangible net worth
Tenure of Facilities 3 to 5 years from the date of disbursement
Loan Repayment Equal half yearly installments (Principal Markup)
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This page last updated on: July 11, 2017 10:25:23 AM
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