1. Scheme for Estate Purchase

Loan Amount : Maximum ceiling of Rs.10.00 lacs.

Loan Term : Repayable within 7 to 9 years

Interest Type : Floating

a) Interest Chargeable (in case of Floating Rate Loans) - 3.50% above the BR ie. 13.15% p.a.
b) Interest Chargeable(in case of Fixed Rate Loans) - Not Applicable

Fee Payable during the term of the loan

Upfront Fee

i) Up to Rs. 2.00 lac   -  Nil
ii) Above Rs.2.00lac -1.15% of the loan amount.

Inspection Charges

i) Upto Rs.25000/-  Nil
ii) > Rs. 25,000/- & upto Rs. 2 lacs: Rs.500/- p.a
iii) > Rs. 2 lacs  -Rs. 500/- per lac p.a. 

Penalty for delayed payments: @ 2% on the entire outstanding for the period of default.

Details of Security/ Collateral Obtained

a) Primary: - Hypothecation of Plantation crops raised/ to be raised on the land/ Estate.

b) Collateral: - Mortgage of property to be purchased. Also, collateral security of mortgage of existing landed properties preferably residential property is to be obtained. In any case, the value of the security should not be less than 200% of the loan amount.

    
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Source: https://www.sbp.co.in