1. Financing Coconut New Plantation / Replantation

Purpose

Long Term Loan for raising new plantaion/Replanting to members of the Producers Society promoted by Coconut Develeopemt Board,to meet the expenses from the preparation of land for planting till yielding stage.

Loan Period

Loan is disbursed in instalments over a period of seven years depending on the requirement.

Loan Amount

As per the amount (unit cost) fixed by the government agencies (NABARD) for the place.

Margin

10% for small & marginal farmers and 15% for other farmers.

Repayment

Interest & loan amount to be repaid after the plant starts yielding. The interest accrued during the initial 7 years to be repaid during 7th year to 9th year.The principal & accrued interest during corresponding year to be repaid from 10th to 13th year in instalments.

Security

1.(i)Primary -Hypothecation of the crops raised with the banks finance

2.Collateral –a).Limits upto to Rs.1,00,000 : NIL, b. Limits above Rs.1,00,000 : Mortgage of landed property

Repayment