10. Scheme for creating infrastructure for carrying out Agriculture & Allied activities

Loan Amount: upto Rs.20.00 lacs

Loan Term: Maximum period of 10 years in monthly/ quarterly/ half yearly equated installments plus interest excluding a moratorium period of upto 18 months coinciding with the harvesting of the crop or coinciding with the income generation of the farmer from the allied agricultural activities undertaken by the farmer.

Interest Chargeable: 0.50% to 1.00% above base rate i.e.10.15 to 10.65 %  p.a.

Fee Payable during the term of the loan

Upfront fee:

i)  Upto Rs. 2.00 lacs – Nil,
ii)  Above Rs. 2.00 lacs to Rs. 20.00 lacs – 0.575% of loan amoun

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

EMI payable

Maximum period of 10 years in monthly/ quarterly/ half yearly equated installments plus interest excluding a moratorium period of upto 18 months coinciding with the harvesting of the crop or coinciding with the income generation of the farmer from the allied agricultural activities undertaken by the farmer.

Details of Security/ Collateral Obtained

Equitable/ Registered mortgage of the land where the activity is to be undertaken and infrastructure is to be created, the value of which should not be less than 115% of the value of loan amount. Bank may consider other tangible security in the shape of Equitable/ Registered mortgage of other land or Bank deposits etc. in case mortgage of land is not possible.where the structure is erected.