|Type of Facility||Term Loan (TL)|
- Sinking a well/ repair or deepening of well
- Sinking a tube well
- Installation of an electric/ diesel pump set
- Drip irrigation system
- Sprinkler irrigation system
- Laying irrigation channels/ pipelines
- Farm pond/water tank
- Composite minor irrigation which includes more than one purpose mentioned above
|Eligibility||All farmers- Individual / Joint landholders|
- For new dug wells/pipeline/pump sets: As per the NABARD Unit costs/ Estimates
- For equipments/machinery: As per price quotations.
- Limit up to Rs 1.00 Lakh- NIL
- Limit above Rs 1.00 Lakh-15% to 25%
(Depending upon purpose & quantum of finance)
|Rate of Interest||ROI shall be as applicable to Agricultural advances|
- Hypothecation of Crops, equipments, machineries & other assets
- Third Party Guarantee/ Mortgage of Land
|Repayment||7 to 11 years, depending upon the repaying capacity|
|Repayment||5 to 9 years, depending upon the purpose of loan|
|Other Terms & Conditions|
- Proposed well should be located in white watershed area. It should not be in dark watershed area.
- GSDA certificate for digging of new well in Grey Watershed is required.
- Insurance of assets created out of banks finance to be done.
- 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.1.00 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