Jewel loan - Agriculture (Interest Subvention).

Jewel Loan granted for Agriculture purposes (Crop loans) are called as ‘Jewel Loan – Agriculture (Interest Subvention)’.

Features :-

  • Agricultural Crop Loans where the Scale of Finance is fixed at not more than 110% and the amount of Loan does not exceed Rs.3 lakhs are eligible for Interest Subvention and therefore comes under the category of Agricultural Jewel Loans (eligible for Interest Subvention).
  • Obtention of copies of documents such as Chitta, Adangal, Tax receipts, Sale agreement Deed/ Lease agreement etc. is waived up aggregate Loan amount of Rs.1 lakh.

Eligibility :-

  • All Farmers - Individuals / Joint borrowers who are owner Cultivators.
  • Tenant Farmers and Share Croppers.
  • SHGs or JLGs of Farmers including Tenant Farmers / Share croppers, etc.
  • Interest Subvention Scheme is applicable for Short Term Crop Loans / KCC sanctioned by Rural and Semi-Urban Branches alone.

Terms :-

  • Minimum Rs.3000/. Maximum Rs.3.00 lakh.
  • Due Date of the Loan is 12 months regardless of the nature of Crop or the purpose.

Interest :-

  • 4% (2% Interest subvention for all short term crop loans and 3% additional incentive for prompt repayment within due date).

Fees & Charges :-

  • Handling charges, Inspection charges, Safe-keeping charges & Appraiser fee may be applicable