| Purpose / Objective | To enhance credit facility to the registered cane growers for investment credit requirements of farm activities besides crop loan. |
| Eligibility | Farmers supplying cane to reputed sugar Mills for the past three years. Term loan should also be recommended by the Mill. |
| Quantum of Loan | * Crop Loan: 60% of the value of the estimated produce or Rs.20,000/- per acre whichever is lower.
* Term Loan: Maximum or Rs.15,000/- per acre. Ceiling of Rs.1 lakh per acre for taking up various developmental activities like deepening of well etc.
|
| Interest Rates | For Crop Loans :
| Amount Slab(Rs. in Lakhs) |
Interest Rate |
| Upto 3.00 |
7% |
| >3.00 to 5.00 |
BPLR + 0.50% |
| >5.00 |
BPLR + 1.00% |
For Term Loans :
| Amount Slab(in Lakhs) |
Interest Rate |
| Upto 0.50 |
BPLR+TP less 1.75% |
| >0.50 to 2.00 |
BPLR + TP less 0.50% |
| >2.00 to 5.00 |
BPLR + TP + 0.50% |
| >5.00 |
BPLR + TP + 1% |
|
| Repayment Period | Crop Loan: Bullet payment within a period of 15 months max.
Loan: To be repaid in 3 crop seasons.
|
| Security | a) Upto RS.2.00 lakhs. Guarantee from two tie-up farmers who have registered with sugar mills.
b) >Rs.2.00 lakhs – Additional security collaterals as per guidelines.
|
| * BPLR = 12.50 % and BASE RATE = 8.00 % | |
