<> Cent Vermicompost Scheme | Central Bank of India

Cent Vermicompost Scheme

Purpose

 

* To meet the investment credit / working capital requirement of farmer/s and /or corporates for setting up and running Vermicompost Units.

 

Eligibility

 

* All Farmers, SHGs, JLGs of farmer's including tenant farmers, share croppers, Proprietorship/Partnership Firms/Pvt./ Public Ltd. company/ies. etc., Non-Government Organizations (NGOs), Cooperatives, Municipal Corporations, Federations, Agricultural Produce Marketing Committees, Marketing Boards and Agro Processing Corporations.  

Nature of facility

 

* Term Loan and /or CC as per the purpose.

 

Limit

 

* Based on assessment, maximum uptoRs2.00 crore.

 

Margin

 

*Upto 1,60,000/--NIL

*More than Rs1.60 Lakh up to Rs5,00,000/- : 10%
*More than Rs5,00,000/- : 20%

 

Security

 

* Primary-Hypothecation of assets created out of bank's finance.
* Collateral
- No collateral for limit uptoRs1.60 lac.
- For limits above Rs1.60 lac, charge on property.

 

Interest Rate

 

Limit upto Rs3,00,000/-
Above Rs3.00 lacs upto Rs10.00 lacs
Above Rs10.00 lacs upto Rs100.00 lacs
Above Rs100.00 lacs

 

MCLR + 1.35%
MCLR + 2.50%
MCLR + 3.00%
As per Rating of Borrower

 

Processing Charges

 

* UptoRs 3 Lakh/-:NIL

*Above Rs 3 Lakh/- :@0.30%

Documentation Charges

 

* UptoRs 3 Lakh/-:NIL

*Above Rs 3 Lakh/- :50% of 1.25%(i.e.0.625%)

Repayment

 

* 5-8 years