PM-KUSUM SCHEME (COMPONENT B and C) - Agri & Rural

Features

• Type of Facility: Agricultural Term Loan
• Margin: Farmer contribution:10% of benchmark cost of pump.
• Quantum of Loan:
  • Minimum loan: No ceiling
  • Maximum loan: No ceilin
• Security: As per Bank’s extant guidelines.
• Repayment: Maximum of 120 months including moratorium.
• Interest rate : - 1-Year MCLR + 350 bps.
• Upfront- fee: 1.40% of the loan + GST.
• Subsidy:
  • Central Financial Assistance (CFA): 30% of the benchmark cost or the tender cost, whichever is lower of the stand-alone solar Agricultural pump.
    • State Government: 30%
    • Farmer contribution: 10%
    • Bank finance: 30%
  • Subsidy for North Eastern States, Sikkim, J&K, HP, Uttarakhand, Lakshadweep and A & N Islands:
    • Central Financial Assistance (CFA): 50% of the benchmark cost or the tender cost, whichever is lower of the stand-alone solar Agricultural pump.
    • State Government: 30%
    • Farmer contribution: 10%
  • Bank finance: 10%
• Portal : https://pmkusum.mnre.gov.in
• FAQs : For more details, please visit nearest SBI Branch.