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Rural

Purpose

  • To maintain the quality and extend the shelf life of fruits/ vegetables/ perishable agricultural products and to reduce losses after harvest. 
  • To provide farmers an opportunity to realize better price for their produce.
  • Construction of storage chambers alongwith concrete racks & staircases.
  • Installation of machineries/ plant required for running cold storage unit.   

Eligibility

Individuals, group of individuals, co-operative societies, proprietary/ partnership concerns and joint sector companies in public or private sector.

Quantum of finance

As per Project Cost

Security

For limits upto Rs.1.00 lakh

  • Hypo. of assets created out of bank finance
 

For limits over Rs.1.00 lakh

  • Hypo. of assets created out of bank finance
  • Mortgage of property and/or
  • Third party guarantee of adequate worth.

Margin

15% to 25% of the project cost

Rate of interest

Interest Rate as decided by the Bank from time to time.

Repayment

Repayment period upto 9 years is allowed including a grace period of one year.

Insurance

Assets created out of Bank finance, assets hypothecated/ mortgaged to the Bank to be fully insured with Bank clause.