Jewel Loan granted for Agriculture purposes such as Crop loans, Development loans, Dairy, poultry, fisheries and other agriculture & allied activities are called as ‘Jewel Loan - Agriculture’.
Features :-
- All kinds of agriculture loans.
- 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.
- Maximum loan amount - No restriction- depends on the Scale of Finance/ unit cost
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.
Terms :-
- Minimum Loan amount is fixed at Rs.3000/-.
- Maximum Loan amount is fixed as Rs.10 lakhs per borrower. Regional Manager can permit higher amount duly recording the reason and justification therefore.
- Due Date of the Loan is 12 months regardless of the nature of Crop or the purpose.
- The maximum lendable per gram rate for 22 carat Gold Ornaments will be instructed by H.O on daily basis.
Interest :-
- MCLR (1 Year-8.90%) + Risk Premium (Nil) + BSS (Nil)i.e. 8.90% p.a. (presently)
Fees & Charges :-
- Handling charges, Inspection charges, Safe-keeping charges & Appraiser fee may be applicable.