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Planters Card Scheme

Particulars Guidelines under the scheme
Purpose
  • To meet the short term credit requirements for cultivation of coffee, inter-crops & other plantation crops.
  • To meet post-harvest expenses, produce marketing loan, consumption requirements of planter’s household, working capital for maintenance of farm assets and activities allied to agriculture like dairy animals, poultry, inland fisheries etc., payment of insurance premium towards crop / asset / health insurance.

Eligibility

Individuals:

  • All planters/cultivators/tenant farmers engaged in plantation activities
Quantum of Loan
  • Fixation of Annual Limit:- As per the scale of finance approved by DLTC. In case planters use modern package of practices involving higher input cost and if DLTC fixed scale of finance is not adequate to raise / maintain the crop, additional amount upto 25% of scale of finance, over and above the scale of finance may be considered on merits of individual case, on the request of the party.
  • 40% of total crop production requirement for post harvest activities /consumption need
Nature of facility Term loan
Rate of Interest
  • As per RBI/Bank’s guidelines revised from time to time.
Margin
  • For crops with notified scale of finance by DLTC: No margin.
  • For crops not under notified scale of finance by DLTC: Estimated cost of cultivation - Applicable margin.
  • For term loan and also for (B) above:
    i) Up to Rs.1,00,000/- : No Margin
    ii) Above Rs.1,00,000/-: 15 to 25% depending on purpose and quantum of loan.
Repayment Period
  • The repayment period for the operative limits to be fixed for 31st July
Security Hypothecation of primary security and Mortgage of land.

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