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
1.50% + GST(for loan above ₹25k)​
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
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Type of Loan
Overdraft Limit/Term Loan
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​Rate of Interest
23.01%
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
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**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)
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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/-
