Coll. Security / Security Coverage |
i) Upto ₹ 1,00,000/-
Hypothecation of crop/ assets created out of Bank loan.
ii) Above ₹ 1,00,000/- to ₹ 2,00,000/-
- Hypothecation of crop / assets created out of Bank loan.
- Mortgage of Land / Property* minimum equal to the amount of loan.
Or
3rd party guarantee of adequate net worth acceptable to the Bank. (or) Secured up to 100% of loan by liquid security like FDR, NSC, etc.
iii) Above ₹ 2,00,000/-
- Hypothecation of crop / assets created out of Bank loan.
- Mortgage of Land / Property* minimum equal to the amount of loan.
Or
Secured up to 100% of loan by liquid security like FDR, NSC, etc.
* Land / Property may be Agriculture / Residential / Commercial which are eligible for creation of bank charge.
The valuation of Agriculture land will be done as per current DLC (District level Committee) rate.
Note: The Bank’s name must be displayed Bank as ‘hypothecatee’ or financier. The land on which Polyhouse / Green House is constructed must be mortgaged.
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