Sugar Premium Scheme
Purpose / Objective
- To enhance credit facility to the registered cane growers for investment credit requirements of farm activities besides crop loan.
- Farmers supplying cane to reputed sugar Mills for the past three years. Term loan should also be recommended by the Mill.
Amount 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.
Amount Slab Interest Rate Upto 3 Lakhs 7% >3 Lakhs Please refer the Lending Rates link on home page in our Bank`s Website.
- Crop Loan: Bullet payment within a period of 15 months max.
- Loan: To be repaid in 3 crop seasons.
- Upto RS.2.00 lakhs. Guarantee from two tie-up farmers who have registered with sugar mills.
- >Rs.2.00 lakhs – Additional security collaterals as per guidelines.