| Type of Facility | Term Loan (TL) |
| Purpose | - Sinking a well/ repair or deepening of well
- Sinking a tube well
- Installation of an electric/ diesel pump set
- Drip irrigation system
- Sprinkler irrigation system
- Laying irrigation channels/ pipelines
- Farm pond/water tank
- Composite minor irrigation which includes more than one purpose mentioned above
|
| Eligibility | All farmers- Individual / Joint landholders |
| Amount | - For new dug wells/pipeline/pump sets: As per the NABARD Unit costs/ Estimates
- For equipments/machinery: As per price quotations.
|
| Margin | - Limit up to Rs 2.00 Lakh- NIL
- Limit above Rs 2.00 Lakh-15% to 25%
(Depending upon purpose & quantum of finance) |
| Rate of Interest | Up to Rs.10.00 lakh : 1 Year MCLR + BSS@0.50% + 2.00% Above Rs.10.00 lakh : 1 Year MCLR +BSS@0.50%+ 3.00% |
| Security | - Limit up to Rs 2.00 Lakh- Hypothecation of Crops, equipment’s, machineries & other assets
- Limit above Rs 2.00 Lakh –
a. Hypothecation of Crops, equipment’s, machineries & other assets b. Third Party Guarantee/ Mortgage of Land |
| Repayment | 7 to 11 years, depending upon the repaying capacity |
| Other Terms & Conditions | - Proposed well should be located in white watershed area. It should not be in dark watershed area.
- GSDA certificate for digging of new well in Grey Watershed is required.
- Insurance of assets created out of banks finance to be done.
|
| Paper requirement | - Loan application ie Form No -138, & Enclosure – B2
- All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
- No dues certificates of the applicant from surrounding financial institutions including PACS
- Legal search from advocate on Bank’s panel for loans above Rs.1.60 lakh where land is to be mortgaged
- Price quotations/ Plan estimates / Permissions etc. depending up on the purpose of loan
- Guarantee form F-138
- All 7/12, 8 A & PACS dues certificate of the guarantors
|
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