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Home >> Loan >> Other Loan Schemes  >> >> Agriculture Loan Scheme  >> >> MODEL SCHEME FOR FINANCING COCONUT FARMING
MODEL SCHEME FOR FINANCING COCONUT FARMING

Purpose: Credit facilities can be provided for establishment of new Coconut plantation/rejuvenation of existing Coconut plantation/ planting coconut on field bunds and on fish tank bunds/ reclamation of water logged kayal lands and marshy lands near sea-shore and establishing coconut gardens there/ maintenance of existing Coconut Gardens/ to carry out improved package of practices and to prevent coconut plantation from disease and pest.

Eligibility: Individual farmers {including Self Help Groups (SHGs) or Joint LiabilityGroups (JLGs), i.e. groups of individual farmers}, corporates, partnership firms and institutions.

Rate of Interest

Working Capital:  Base Rate w.e.f 01.04.2014

Term Loan:

up to 2.0 lac                       

BR+2.25%

Rs. 2.00 lac to 5.00 lac

BR+3.00%

Above 5.00 lac

BR+3.50%

        (As per RBI interest subvention scheme, interest charged on short term production loan with a principal amount upto Rs.3.00 lac is 7% p.a)


 Security

Loan Amount

Security

Up to Rs 100,000/-

Only Primary security i.e. Hypothecation of crop

Above Rs 1.00 lac and up to Rs  2.00 lac

1.     Hypo. Of Crops/ Assets created by Bank Finance

AND

1.     Mortgage of Agricultural Land with value equal to the amount of loan

OR

3rd party guarantee of adequate net worth acceptable to the Bank

Above Rs 2.00 lac

1.     Hypo. Of Crops/ Assets created by Bank Finance AND

 

1.     Mortgage of Agricultural Land with value equal to the amount of loan.

 

Margin

For Working capital:  NIL, (Finance has to be made as per scale of finance fixed by the district technical committee.)

Term Loan/ Investment credit:-          Up to Rs 100,000/-                                        Nil

Above Rs100,000/-                                       15%

*The Regional Heads are authorized to reduce it to 10 % in deserving cases.