National Toll Free No1800 425 00 000
 
National Toll Free No1800 425 00 000

Sugar Premium Scheme

Sugar Premium Scheme

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.

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.

Interest Rates

  • Amount Slab Interest Rate
    Upto 3 Lakhs 7%
    >3 Lakhs Please refer the Lending Rates link on home page in our Bank`s Website.

Repayment

  • Crop Loan: Bullet payment within a period of 15 months max.
  • Loan: To be repaid in 3 crop seasons.

Security

  • 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.
* BPLR and BASE RATE – Available in Home Page