11. Loan scheme for Financing Green / Poly / Net House for Cultivation of Vegetables / Flowers / Fruit Crops

Loan Amount : Minimum - Rs. 3.00  lacs & maximum Rs. 200 lacs.

Loan Term: Repayable in half yearly installments in seven years, including moratorium period of 1 year

Interest Chargeable: Ranging from 1% to 3.95% above BR i.e.10.65% to 13.60% p.a.

Fee Payable during the term of the loan

Upfront fee: 1.15% of loan amount

Inspection  Charges -  Rs. 3 lacs but upto Rs.2 Crore -Rs. 500/- per lac p.a.    

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

EMI payable: Repayable in half yearly installments in seven years, including moratorium period of 1 year.

Details of Security/ Collateral Obtained

i) Primary Security: Hypothecation of the infrastructure created and crops raised with the bank finance.

ii) Collateral Security: Registered mortgage of owned land where structure is erected or where the land is leased then equitable mortgage of other property (non-encumbered, SARFAESI Complaint commercial/ residential/ industrial property) will be obtained.  The value of collateral security should be minimum 125% of the loan amount.