Scheme for Debt Swapping of borrowers - Agri & Rural
Scheme for Debt Swapping of borrowers
Purpose :
To extend finance to farmers for paying off loans taken from non-institutional lenders (e.g. money lenders, etc.) and to enable such farmers in distress, meet their crop production needs.
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.
Who are eligible?
- All existing farmer borrowers as well as other farmers in the operational area of the branch.
Documents you need to provide
- Stamped, notarized Affidavit, as per Bank format
- A letter from the lender confirming the facts in the Affidavit
- Any other document as per sanction.
As applicable to Direct Agriculture advance.
For detailed and updated information, please contact our nearest Branch.
Last Updated On : Friday, 03-06-2022

Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
Miscellaneous Activities
Limited Time Offers - Unlimited Joy

Criteria
- Features
- Eligibility
- Terms and Conditions

Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above