Pradhan Mantri Mudra Yojna

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Pradhan Mantri Mudra Yojna (PMMY)-Allied Agri

PRADHAN MANTRI MUDRA YOJNA (PMMY)-ALLIED AGRI

Purpose of Loan: To generate self-employment opportunities and livelihood

Features

  • Type of Facility : Agriculture Term Loan
  • Margin : 15% to 25% of the project cost
  • Interest Rate : Interest rates are linked to One Year MCLR rate + spread. Spread is determined by Bank from time to time. At present interest rate is 10.75% p.a
  • Repayment : In 3-5 years including gestation period depending upon the activity / income generation.
  • Loan ceiling : Maximum Rs.10 lakhs

Eligibility

  • Individuals, Sole Prop, Partnership firms, except corporate, bodies, institutions, SHG,JLG Governments engaged in “ Activities allied to Agriculture” e.g. Pisciculture, Bee keeping, Poultry, Livestock, Rearing , Grading, Sorting, Aggregation agri industries, Dairy, Fishery, Agri clinics and Agri business centres, Food & Agro processing, etc. (excluding crop loans, land improvement such as canals, irrigation, wells) and services supporting these, which promote livelihood or are income generating shall be eligible for coverage under PMMY

Important allied activities covered

  • Dairy /Poultry/Fisheries
  • Goat /Sheep/ Piggery rearing
  • Bee Keeping
  • Agri Clinic and Agri Business Centers
  • Others (promote livelihood and income generation), etc.

Quantum of Loan

  • Project cost
  • Less Margin
  • Bank loan

Security

  • Primary:Hypothecation of assets and other movable assets created out of the Bank loan
  • Collateral:No collateral security to be obtained for all loans upto Rs.10 lakhs

Processing Charges

  • Up to 50,000/- NIL
  • Rs.50,000- Rs.10 lakhs 0.50% Loan amount

Documents Required

  • Duly filled in application form
  • Identity proof- Voter ID card/PAN card/Passport/ Aadhaar card/Driving License etc.
  • Address proof: Voter ID card/Passport/Aadhaar card/Driving license etc.
  • Proof of agricultural land/ cultivation.

Interest Rates

6.70%* p.a.

w.e.f. 01.05.2021

*T&C Apply.

 

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