19. Financing for Combine Harvesters
Purpose
Finance is given for the purpose of combined harvesters'. Makes in the approved list of the bank will only be financed
Eligibility
a. For self propelled Combine Harvester
1. Farmers who are in a position to operate the Harvester successfully and owning minimum of 8 acres of irrigated land (corresponding acreage for other types of land).
2. Farmers owning lesser acreage than that prescribed above, are also eligible for availing combine harvester loans provided they could operate the harvesters successfully and generate sufficient income .Additionally they should provide additional collateral security like NSCs,Bank Fixed Deposits,LIC policies urban property etc to the value of at least 50% of the loan amount.
b. For Combine Harvesters as an attachment /equipment
Farmers who are in a position to operate the Harvester successfully and owning minimum of 6 acres of irrigated land (corresponding acreage for other types of land)..They should own a tractor of not less than 50 HP . Farmers owning lesser acreage than that prescribed above, are also eligible for availing combine harvester loans provided they could operate the harvesters successfully and generate sufficient income, additionally they should provide additional collateral security like NSCs, Bank Fixed Deposits, urban property etc the value of at least 50% of the loan amount
Loan amount
Upto 85 % of the cost of combine harvester and accessories.
Security
1. Hypothecation of assets financed
2. Mortgage of land/buildings
| Source: http://www.statebankofindia.com/portal/agri |
|
