||The purpose of this loan is to establish compartmentalized cold storage units where perishable Agri commodities can be stored for a longer duration to obtain a year round supply, reducing post-harvest losses.|
|What is Eligibility Criteria
- A genuine farmer
- Should have a suitable land to establish a compartmentalized cold storage
- Should not be a defaulter of any other Bank and the land under cultivation should be free from all encumbrance.
- Age Limit: 21-65 years (till maturity)
|Amount of Facility
||Maximum Rs. 50 Million|
The facility shall be provided keeping in view the cash flows of the borrower in order to justify the requested amount of finance and secure the bank’s interest.
||For D/F & L/F (Term Loan Facility): || 15% P.A. Fixed rate
| For R/F (Running Finance Facility):
|| 03 M KIBOR + 500 BPS |
- Leased assets (Purchase receipts of other equipment’s/machinery in the name of the Bank)
- Site will be mortgaged with BOP
- Charge on agriculture land through Agri Passbook
- Charge on urban immovable property through equitable/registered mortgage
- The property should be cleared by the banks approved legal counsel and will be assessed by the Banks and PBAs approved surveyor.
- Liquid security in shape of Bank’s Fixed Deposit Receipt /DSC/NSC or Regular Income Certificates.
- One Personal Guarantee of an individual having adequate tangible net worth.
- Two written satisfactory market verified reports.
|Tenure of Facilities
- 5 Years from the date of disbursement (in case of D/F & L/F)
- 1 year from the date of disbursement (in case of R/F)
- Demand Finance Facility – 18 equal quarterly installments (Principal Markup)
- Lease finance Facility – 20 equal quarterly installments (Principal Markup)
- Running Finance Facility - markup will be recovered on quarterly basis
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