| Purpose |
To provide short-term facility to the Individual & Corporate farmers for purchase of Farm Inputs (Seeds, Fertilizers, Pesticides, Fungicides etc) |
| Target Market |
The scheme shall provide short-term facility to the
a. Owner / Self-cultivator/resident farmers
b. Owner + family land (only spouse & Children) |
| What is Eligibility Criteria |
- Resident/Self Cultivating farmers having cultivated agriculture land minimum 10 Acres
- Should not be a defaulter of any Financial Institution
- Should have security free of all encumbrances to be offered as collateral
- Should have Computerized National Identity Card
- Age Limit: 21-60 years (till maturity)
|
| Amount of Facility |
Production Loan
(Running Finance Facility)
Minimum Rs. 500,000/- & Maximum up to Rs. 30,000,000/- The limit will be determined on the basis of crop pattern and area under cultivation. |
| Markup |
6-month KIBOR (H) + 600BPS without floor or cap rate P.A. |
| Insurance |
The Crop Insurance is mandatory for all borrowers availing production loan from BOP for all crops including five major crops i.e. Wheat, Cotton, Sugarcane, Maize and Rice and minor crops. |
| Security |
- Charge on Agri Land Through pass book
OR
- Mortgage of Urban/Commercial Property
OR
- Liquid security in shape of Bank’s Fixed Deposit Receipts, Defense Saving Certificate/National Saving Certificate or Regular Income Certificate
- Two written satisfactory market verified reports
|
| Frequently Asked Questions (FAQs)? |
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