Horticulture / Plantation Activities

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Horticulture / Plantation Activities
Type of Facility	Term Loan (TL)
Purpose	Cultivation of fruit crops-Mango, Pomegranate, Grapes, Guava etc
Eligibility	All persons engaged in raising fruit gardens, plantations and nursery crops as owners of land or permanent tenants or as lease holders (for reasonably long period).
Amount	As per NABARD/NHB Unit costs/ Project costs
Margin	Limit up to Rs 1.60 Lakh- NIL Limit above Rs 1.60 Lakh-15% to 25% (Depending upon purpose & quantum of finance)
Rate of Interest	Up to Rs.10.00 lakh : 1 Year MCLR + BSS@0.50% + 1.75% Above Rs.10.00 lakh : 1 Year MCLR +BSS@0.50%+ 2.75%
Security	1) Up to Rs 1.60 lakh: Hypothecation of Crops/Plant Machinery to be purchased 2) Above Rs 1.60 lakh : a) Hypothecation of Crops/Plant Machinery to be purchased b) Third Party Guarantee (Two) / Mortgage of land.
Repayment	Within 7-15 years including gestation period. Coinciding with harvesting of crops/marketing of produce.
Subsidy	Subsidy for the eligible projects is available from NHB/NHM
Paper requirement	Loan application ie Form No -138,&Enclosure – B2 All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant No dues certificates of the applicant from surrounding financial institutions including PACS Legal search from advocate on Bank’s panel for loans above Rs.1.60 lakh where land is to be mortgaged Price quotations/ Plan estimates / Permissions etc. depending up on the purpose of loan Guarantee form F-138 All 7/12, 8 A & PACS dues certificate of the guarantors