Toll Free Number
1800 258 44 55
1800 102 44 55
Purpose
An instant credit for farming community to meet the emergent funds requirements for farm maintenance and other farm related activities due to COVID-19 pandemic.
Eligibility
Existing borrowers enjoying investment credit with satisfactory repayment track record.
Quantum of Loan
10% of Other Agriculture sanction limit i.e. Minimum Rs.10000/- and Maximum Rs.50000/- for existing regular Investment credit agriculture accounts
Nature of facility
Demand Loan
Rate of Interest
1 Year MCLR+SP i.e. 8.15+ 0.25= 8.40 % (at present)
Margin
Nil
Repayment Period
Half yearly / Yearly instalments depending upon the income generation and cropping pattern
Security
Hypothecation of assets created out of bank finance if any. - Existing security under Investment agriculture credit loan accounts to be extended.
- The existing norms of no collateral security up to Rs.1.60 lacs to be followed if the combined limit is within Rs.1.60 lacs.
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