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Baroda Special Scheme for existing BKCC & BAHFKCC borrowers impacted by Second wave of COVID -19

Baroda Special Scheme for existing BKCC & BAHFKCC borrowers impacted by Second wave of COVID -19

Purpose An instant credit for farming community to meet the emergent funding requirement for Agriculture and related domestic purposes impacted due to Second wave of COVID-19 pandemic.
Eligible Projects Individual Farmers / Joint borrowers who are our existing Baroda Kisan Credit Card (BKCC & BAHFKCC) holders with satisfied repayment track record and their BKCC and BAHFKCC accounts are classified as standard category as on 31.03.2021.
Type of Loan Demand Loan repayable in 3 years along with Interest.
Limit Up to 10% of the existing DP in the BKCC & BAHFKCC account.
Margin Nil
Repayment Half yearly / Yearly installments depending upon the income generation and cropping pattern.
Rate of Interest 1 Year MCLR+SP i.e. 7.40+ 0.25= 7.65 % (at present)
Security
  • Hypothecation of Standing Crops
  • No collateral security up to Rs.1.60 lacs
Validity of Scheme The Scheme will be effective up to 30.09.2021.
Other Special Conditions
  • Proposed additional finance will be made available to the existing borrowers only having no overdues in the account.
  • The facility to be made available at specific request of the borrower stating specific impact by second wave of COVID-19 pandemic.
  • TCR to be obtained from panel advocate if the combined limit exceeds Rs 1.60 lakhs.
  • Existing customer who have availed credit facility under Baroda Special Scheme for Existing BKCC borrowers impacted by COVID -19” during last year will not be eligible under this scheme till repayment of all dues availed during last year under the COVID-19 Scheme.

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