1. Tractor Loan
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 maximum of 9 years.
Rate of Interest
- PLR - 1.50% (13.50% p.a.).
- Current Prime Lending Rate (PLR) is 15.00% p.a.
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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
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