IOB KRISHI SARAL

Comprehensive scheme for all Agri activities except Food & Agro units

Scheme

Purpose

Security backed scheme for all agricultural activities such as Purchase of tractor/ power tiller/ machinery/ equipment for Agri purpose/ Agriculture Infrastructure projects such as Construction of factory/ warehouse/ cold storage/ Rural godown/ poly house etc./Allied activities (establishing dairy, poultry, Bee keeping, fishery unit)/ Fertilizer dealer/ distributor/ Agri related export unit/ Hi-tech Agri activities/ Drone purchase/ Irrigation (Drip/ Sprinkler etc.)/ Custom hiring centre/ Agri business Centre and services/ All Agri activities supporting the above etc. [Food & Agro processing units are not eligible].

Eligibility

Target Audience

Individuals, Proprietary concern, Partnership Firm, Private Limited Company, Public Limited Company, LLP, OPC etc.

Age Criteria

Minimum 18 years

Other Criteria

Project should generate sufficient income such that loan can be repaid from the financed activity, without relying on other income.

Projects / activities proposed should have all requisite permissions/ licenses/ approvals from competent authorities.

Financials

Quantum

No Minimum & Maximum - Rs.20.00 cr

Margin

Liquid security: 10% of Face / Surrender value

Property: 25% -30% on the property value based on location (only SARFAESI enforceable)

Rate of interest

Ranges from 9.15% - 10.25% as per rating

Interest concession

1% interest concession is available if value of security offered is 200% of the limit sanctioned.

Processing charges

Working capital - Rs. 200 per lakhs + applicable GST (maximum Rs. 1.00 Lakhs)

Term loan - 0.71% + applicable GST (maximum Rs. 3.55 Lakhs). 

Tenure

Repayment period

10 years including moratorium period

Holiday period

Maximum 18 months

Security

Prime Security

Liquid assets such as LIC/KVP/NSC/Term Deposit etc. or Immovable Property (SARFAESI eligible property)

Collateral Security

Hypothecation/mortgage of assets created