Scheme for Debt Swapping of borrowers - Agri & Rural

Features

• Type of Facility: Term Loan Quantum of Loan: The scheme will be for farmers owning land- existing or prospective. The quantum of loan granted shall be 100% if the debt is on account of cultivation or agri activity, with amaximum of Rs. 1,00,000/. Additionally, loan for crop production will be sanctioned under Kisan credit card.
• Repayment: The loan will be repayable in half yearly / yearly installments in 3 to 5 years.
• Security: All the existing security available with the bank will be extended to cover the loan under the proposed scheme also.
  • Primary: Charge over assets and documents pledged/ mortgaged with the moneylenders, non-institutional lender, etc. after the dues of the money lenders / non-institutional lenders are cleared.
  • Collateral: Collateral security by mortgage / charge on agriculture property shall be taken for this loan.