If the farmer is rich, then so is the nation
Purpose: To meet your short-term Agriculture Financial needs, get a limit sanctioned under Krishak Mitra Scheme directly through our branches on your agriculture land situated in Jodhpur at the Lowest Interest Rates.
Features:
· Sanctioned as Credit Limit for Farmers
· Maximum limit up to Rupees 60.00 lakh
· No compounding of Interest
· Simple Interest to be paid half yearly
· Maximum quantum 33.33% of District Level Committee rate of property
Advantage:
· Low Interest Rate
· Zero margin (100% loan to be provided by the bank)
· Minimal Documents
· Zero Processing Fee
· No hidden charges
· No Pre-payment penalty
Eligibility:
· Farmer having minimum irrigated land of 4 acres in the Jodhpur district
· Having sufficient water and irrigation facility in the land
· For joint holders of the land, affidavit by the other owner for agreeing to mortgage the land in favor of the bank
Rate of Interest:
· Rate 7% up to Rupees 3.00 lakh loan (3% reimbursed by the Government, Effective Rate 4%)
· Rate 11% for loan > Rupees 3.00 lakh
· ROI is calculated on daily reducing balance
Charges:
· Zero Processing Fee
· Zero Renewal Fee
· Other Charges: Document stamp charges as prescribed by the Government
Documents Required:
· Application form duly filled and signed
· KYC Documents of the applicant
· KYC Documents of 02 guarantors
· CIBIL reports of the applicant and guarantors
· Latest revenue record of ownership and crop harvest inspection reports
· Map of the agriculture land of the applicant
· Affidavit for availability of irrigation facility and electricity bill
· District Level Committee rate of the land attested by authority
· Affidavit by the other owner for agreeing to mortgage the land in favor of the bank in case of joint ownership of the land
· Affidavit by the applicant
*Terms & Conditions apply. For further details, Please contact your Nearest Branch