|
Purpose |
* To enable farmers& persons engaged in Agriculture & allied activities to quickly meet their agricultural credit needs i.e., both for crop production and also for meeting investment credit needs. |
|
|
Eligibility |
*Farmers & persons engaged in agriculture or allied activities. |
|
|
Nature of facility |
* Short Term Production credit - |
|
|
Limit |
* For crop production- The quantum of loan will be assessed on the basis of Scale of Finance (However limit will be restricted to value of pledged Gold Jwellery/Gold coins issued by our bank, less stipulated margin, presently 20%) |
|
|
Margin |
- CC/OD limit and Short Term Loans repayable within one year |
|
|
Quantum of Loan |
Rs. 3250 per garm of Gold of 22 carat purity and Rs.3550 per garm of 24 carat purity gold.(subject to periodic review based on the market price of gold) Maximum Quantum of Loan Rs 20.00 Lakh only |
|
|
Security |
* Pledge of gold ornaments and/or gold coins* of 22 carat or higher purity |
|
|
Interest Rate |
CKCC-Gold Loan (Interest Subvention upto 3.00 Lakh) Other than Interest Subvention |
7%
MCLR+0.25% |
|
Processing Charges |
* Production Credit- NIL *Other than production Credit- * Upto 3 Lakh/- :-NIL Above 3 Lakh/- @ Rs 0.30% |
|
|
Upfront Fee |
Up to Rs 5 lakh- NIL >Above Rs 5 Lakh/-: Rs 5000/- + GST Appraiser Fee to be recovered on actual basis from the borrower irrespective of loan amount |
|
|
Repayment Period |
* Cash Credit / Overdraft : |
|
