Agri Financing
This product shall be provided, to those clients who are involved in agriculture business owning an agriculture land area of 5 to 10 acres, in cash or kind. This loan shall be disbursed in the form of group comprising 3 to 6 members of the same area where group members act as social collateral for each other. Such loans are extended with loan amount between Rs. 75,000 and Rs. 100,000.
Loan will be provided maximum for six month duration and repayment will be according to the cultivation time along with one month grace period. Before advancing loan, evaluation of agriculture land and additional source of income shall be carried out whether or not client has repayment capacity (double of the loan amount). Service charges of 20% per annum (10% bi-annually) of loan amount flat shall be charged.
