TERM LOAN AGAINST GOLD ORNAMENTS (Without Interest Subvention)

1. What is the purpose of this loan scheme ?

For short term production, investment activities namely land development, minor irrigation, purchase of agricultural machinery etc. and also activities allied to agriculture (dairy, sheep, goat, fisheries, duck rearing, honey bee rearing).

2. Who can avail this loan facility ?

Agriculturists, tenant farmers, landless labourers engaged in agriculture and allied activities.

3. What is the maximum quantum under this scheme ?

Rs. 50 Lakhs

4. How much margin required ?

15% to 25%

5. What is the rate of interest ?

RLLR-0.85%

6. What is the maximum repayment period allowed ?

Monthly/quarterly / half yearly or annual instalments with a max period of 36 months. Subject to value of jewels covers the outstanding at any point of time.

For short term production, 1 year.

7. What is the security required for this loan scheme ?

Pledge of gold ornaments.