AgriculutreOver Draft (AGRI OD) - Overdraft facility for Farmers

Purpose

  • Working capital requirements - for allied activities, farm machinery/ equipment maintenance.
  • Repairs and Replacements of Machinery, Farm Animals, Repairs/Improvements of Land Development works, other works of Developmental nature.
  • Working capital requirements for Non-farm sector activities.
  • Other consumption needs of farmers
  • Will not be granted for crop cultivation expenses as existing Kisan Credit Card facility is available for such requirements.

Eligibility

  • Individual farmers/joint borrowers, partnership firms, private limited companies and public limited companies who are primarily owner cultivators and / or engaged in allied activities, non-farm activities.
  • Should have at least one year satisfactory repayment record.
  • Finance is based on income generation and repayment capacity.
  • Should not be a defaulter to any of the financial institutions

Documents Required

  • Land Tax Paid Receipt
  • Poossession Certificate
  • Title deeds
  • Any other documents as required by the bank

Limit & Margin

Limit

  • Maximum of 50% of value of the landed property offered as security.
  • Maximum of 4 times of the Net annual agricultural income.
  • Maximum of Rs.1.50 lakh per Acre (40 Ares) of land.

Margin

  • 15-25% of estimated cost.

Security

  • Mortgage of landed properties owned by the borrower, value of which should be at least 200% of the limit, is to be obtained as Primary security.

Repayment

  • Tenable for 3 years, subject to annual review.
  • The limit would be in the nature of revolving OD and provide for any number of withdrawals and repayments within the limit. Interest shall be collected as and when due.

Interest Rates & Charges

  • Please visit Loan Interest Rates page for details
  • Working capital requirements - for allied activities, farm machinery/ equipment maintenance.
  • Repairs and Replacements of Machinery, Farm Animals, Repairs/Improvements of Land Development works, other works of Developmental nature.
  • Working capital requirements for Non-farm sector activities.
  • Other consumption needs of farmers
  • Will not be granted for crop cultivation expenses as existing Kisan Credit Card facility is available for such requirements.
  • Individual farmers/joint borrowers, partnership firms, private limited companies and public limited companies who are primarily owner cultivators and / or engaged in allied activities, non-farm activities.
  • Should have at least one year satisfactory repayment record.
  • Finance is based on income generation and repayment capacity.
  • Should not be a defaulter to any of the financial institutions
  • Land Tax Paid Receipt
  • Poossession Certificate
  • Title deeds
  • Any other documents as required by the bank

Limit

  • Maximum of 50% of value of the landed property offered as security.
  • Maximum of 4 times of the Net annual agricultural income.
  • Maximum of Rs.1.50 lakh per Acre (40 Ares) of land.

Margin

  • 15-25% of estimated cost.
  • Mortgage of landed properties owned by the borrower, value of which should be at least 200% of the limit, is to be obtained as Primary security.
  • Tenable for 3 years, subject to annual review.
  • The limit would be in the nature of revolving OD and provide for any number of withdrawals and repayments within the limit. Interest shall be collected as and when due.

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