1. TRACTOR LOAN
2. BANANA CULTIVATION
3. RICE MILL
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Purpose
To purchase Tractor and other implements.
Eligibility
Individual / Joint, Sole Proprietary Concerns, Partnership Firms, Trusts, Societies, Limited Companies and all legal entity.
Land Holding
Minimum 2 acres of Irrigatable Land / 4 acres of dry land (fully cultivable) subject to economic viability.
Repayment
Repayment period will be fixed on the basis of cropping pattern / harvesting season and income generations upto a maximum of 9 years.
Rate of Interest
- PLR - 1.50% (13.50% p.a.).
- Current Prime Lending Rate (PLR) is 15.00% p.a.
For further details Click here
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Purpose
Composite Term loans are granted for meeting the cost of seasonal operations to raise Banana crops both recurring as well as Investment credit to meet Cost of seeds, fertilizers, Pesticides, Irrigation charges, Labour charges etc., and to lay Drip Irrigation and other Capital Investments.
Eligibility
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The applicant should be either owner cultivator or tenant.
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Composite Term loans can be granted to farmers duly ensuring viability.
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The applicant should not be a defaulter to any financing agency & generally free from any outside liabilities.
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Tenant cultivators should produce the record of possession and cultivation issued by the competent revenue authorities which should indicate that the applicant is cultivating the land mentioned in the application.
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The land holding should be within the ceiling limits prescribed by the government under land ceiling legislation.
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Composite Term loans can be granted under both irrigated & rain fed condition.
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Composite Term loans may be considered on production of no due certificate from other banks & the same should not be dated more than 15 days prior to the date of approach.
Loan Quantum
Term loan Rs.45000/- per acre or 60% of cost of the Banana cultivation expenses under Tissue culture techniques with Drip irrigation equipments and other capital investments which ever is lower.
Margin
40%.
Repayment
3 yearly instalment and the same is synchronised with harvesting and marketing of produce.
Rate of Interest
- PLR - 4.00% (11.00% p.a.) for loans upto Rs. 50,000.00.
- PLR - 2.50% (12.50% p.a.) for loans between Rs. 50,000.00 and Rs. 2 Lakhs.
- PLR - 1.25% (13.75% p.a.) for loans above Rs. 2 Lakhs.
- Current Prime Lending Rate (PLR) is 15.00% p.a
For further details Click here
3. RICE MILL
To Enable Rice Mills To Grow And Prosper
Purpose
To meet the financial requirements of rice mills.
To set-up new rice mills and to acquire existing rice mills.
Take over of rice mills advances as per our policy.
Eligibility
Proprietory, Partnership, Company, Individual (running rice mills on own or lease basis)
Takeover of credit limits also permitted subject to strict compliance of take-over norms in our Loan Policy.
In case of Existing Units:
Credit Rating below "A (TMB-4)" category is not eligible for takeover or for sanctioning fresh limits (first time) under the scheme.
Loan Quantum
- All types of fund and non-fund based limits can be sanctioned upto a maximum of Rs.500.00 lacs.
- TERM LOAN:
To construct Factory Building, Godown, Office Building etc. To Purchase new / second hand indigenous machineries. To import new machineries. For installation, electrical fittings, fixtures and other equipments etc. (To import machinery one time FLC limit can be sanctioned along with suitable back-up finance)
- WORKING CAPITAL:-
Regular limit :- 20% of the estimated sales turnover.
Seasonal Limit :- 15% of estimated sales turnover (Period depending upon the season).
- For Existing units:
The estimated sales turnover should be properly justified by having comparison with actual sales turnover in the preceding years. The estimated sales turnover should also be justified by comparing the utilization capacity during the previous year and proposed utilization for the current financial year both in terms of quantity and value. Average paid stock / debtors holding of the unit during normal and seasonal period should also be taken into consideration.
- For New units:
The estimated sales turnover should be justified on the basis of installed capacity and capacity utilization.
Source:http://www.tmb.in
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