• Planters Card Scheme- Bank of Baroda

Empowering farmers to enhance their farm productivity.

Bank of Baroda, for rural India, with rural India.

Planters Card Scheme

  • Benefits
  • Features
  • Eligibility Criteria
  • Document Required
  • Fees & Charges
  • Most Important Terms & Conditions (MITC)

Planters Card Scheme : Benefits

  • Processing charges Nil for Aggregate Loan upto Rs 3.00 Lakhs
  • Inspection charges Nil for Aggregate Loan upto Rs 3.00 Lakh
  • Margin Nil for loans upto Rs 1.00 Lakhs
  • Savings Bank rate of interest shall be paid to the farmers on the Credit Balance maintained by them in the Planters card account

Planters Card Scheme : Features

  • Meet the short term credit requirements for cultivation of coffee, inter-crops & other plantation crops with Bank of Baroda’s Planters Card Scheme.
  • This helps 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. And payment of insurance premium towards crop/asset/health insurance.

Planters Card Scheme : Eligibility Criteria

  • All planters/cultivators/tenant farmers engaged in plantation activities. Coffee planters to produce original Coffee Registration Certificate (CRC).
  • Companies/Partnership firms/HUFs involved in plantation activities.

Planters Card Scheme : Document Required

  • KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
  • Passport Size photo
  • Quotation/Invoice (if available)
  • Land Records
  • Project Report (if available)
  • Copies of the Agriculture Income tax assessment order / Income tax / Wealth tax assessment order/Tax paid receipts/copies of IT/WT/AIT returns or Auditors certificate giving the tax details are to be obtained, wherever applicable

Planters Card Scheme : Fees & Charges

Processing charges:

  • Aggregate Agriculture exposure of Rs. 3.00 Lakhs- Nil

For Working Capital (Fresh/Review)

  • Above Rs 3 lakhs to Rs 10 Lakhs - Rs 250/- Lakh or part thereof +GST
  • Above Rs 10 Lakhs- Rs 350/lakh or part thereof maximum Rs 35.00 Lacs

Inspection Charges:

  • Agriculture exposure upto Rs. 3.00 Lakhs- Nil
  • Above Rs 3 lakhs to Rs 10 Lakhs - Rs 250
  • Above Rs 10 Lakhs to Rs 1 Crore - Rs 500
  • Above Rs 1 Crore - Rs 1000

Planters Card Scheme : Most Important Terms & Conditions (MITC)

Nature of facility Term Loan
Quantum of Loan

Fixation of Annual Limit: As per the scale of finance approved by DLTC. In case planters use a 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 up to 25% of the scale of finance, over and above the scale of finance may be considered on merits of an individual case, on the request of the party.

40% of total crop production requirement for post-harvest activities/consumption need.
Repayment/Validity/Renewal The card is valid for five years
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-

  • Up to Rs.1,00,000/-: No Margin
  • Above Rs.1, 00,000/-: 15 to 25% depending on purpose and quantum of loan.

For Term Loan

  • Up to Rs.1,00,000/-: No Margin
  • Above Rs.1, 00,000/-: 15 to 25% depending on purpose and quantum of loan.
Security
Loan Amount Security Norms
i) For loans up to Rs. 1.60 lakh Hypothecation of crops.
ii) For loans above Rs 1.60 lakh
  • Hypothecation of crops.
  • Mortgage of land / creation of charge on landed properties in States where Statutes are available for creation of such charge, as per legal opinion.
For Term Loan component:
i) For loans upto Rs. 1.60 lakh Hypothecation of assets created out of loan and hypothecation of Crop
For loans above R.s.1.60 lakh 1) Hypothecation of crops and assets created out of loan Mortgage of land / creation of charge on landed properties in States where Statutes are available for creation of such charge, as per legal opinion **
Interest on Credit Balance Savings Bank rate of interest shall be paid to the farmers on the Credit Balance maintained by them in the Planters card account

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