Credit Services
Brief Description
It’s a Group Loan (JLG) can be availed by Farmers for Agriculture and Agri Allied Activities.
Upfront Charges
Processing Fees
1.5% + GST(for loan above ₹50k)
Lending Criteria
Loan Celling
First Cycle : ₹10,000/- to ₹50,000/-
Second Cycle : ₹80,000/-
Third Cycle : ₹1.25 lakh
Fourth Cycle and above :₹1.60 lakh
Rate of Interest
First Cycle : 24.80%
Second Cycle : 23.30%
Third Cycle : 22.80%
Fourth Cycle and above :22.30%
Target Clients
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Progressive Farmer having other source income such Aggregator who Aggregate the produce and Sell in the market in good Price.
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Agriculturist Who is working in job but also passionately doing the farming.
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Agriculturist who having business income and wants to increase scale of agricultural activity.
Purpose
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Post harvest activities to reduce the post harvest losses. ( Such as Storage of Goods, Cleaning, Packaging etc.)
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Value addition to increase shelf life produce. ( Such as Processing of Agricultural Produce.)
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Farm maintenance to maintain farm Asset.
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Farm Development to maintain farm ( Such Clearing, Levelling etc.)
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Consumption for family expenditure.
Criteria of a Client
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Between 18-63 years old.
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Should be Small & Marginals Farmers (max land holding is 5.00 Acres).
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Should be residents of the same village for minimum of last 2 years.
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Should not have any Non- Performing Asset (NPA) account.
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DPD more than 60 days in any live existing facility (other than Agri loan)
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All group members in the group will have a same fig loan amount
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AGRI/AGRI allied activity proof is mandatory
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Proof can be in the name of family members
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Proof details to be mentioned in English Language by the sourcing person
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Name of the Applicant
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Name of the proof
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Proof of owner name
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Relationship between proof owner & Applicant
**Existing micro banking client, who have live MB loan with our bank are not eligible for the FIG.
Lending Methodology
Lending Model
Individual (through Group)
Mode of Repayment
Monthly EMI Collection
Tenure
12 Months : Up to ₹20,000/-
18 Months : Above ₹ 20,000/- to ₹ 30,000/-
24 months : Above ₹ 30,000/- to ₹ 60,000/-
35 Months : Above ₹ 60,000/- to ₹ 1,60,000/-
