Features:

• Easy and hassle-free loan process.
• Convenient repayment schedules.
• Low interest rates
• No hidden charges.

Purpose / Objective:

To finance farmers against the electronic Negotiable Warehouse Receipts (eNWRs) issued by the National e- Repositories   Limited. Viz.  M/s National e-Repository Ltd (NERL)

Eligibility:

The facility is provided to the farmers/agriculturalists who satisfy the following norms:

1. All farmers irrespective of the fact that whether they have availed crop loan or not, are eligible for produce marketing loans.
2. He/she must be a farmer-producer hailing from within the hinterland of godown /warehouse /cold storage.

• He/she should not store the produce for hoarding or any speculative purposes.

1. He/she should not have borrowed from any financial institution for the same purpose for which loan is sought for.
2. Agricultural produce stored should have been harvested during that season by him and must be free from any charges. (i.e. he should not have availed crop loan/ KCC against the crop, whose produce is kept in the warehouse)
3. In case he has availed crop loan, the proceeds of the loan against warehouse receipts will go for repayment of crop loan.

Type Of Facility:

Demand Loan (Term Loan and Working Capital)

Quantum of Finance:

Minimum Rs.1.00 lakh and Maximum Rs.75.00 lakh per borrower.

The extent of produce pledged, and the limit sought by individual farmers should be in accordance with the landholdings of the farmers and approximate production level to eliminate financing for trading purposes.

Repayment Period:

Within the period as indicated in the list of approved commodities and to be based on perishability of commodities, subject to a maximum period of 12 months.

Rate of Interest:

• Please refer the Lending Rates link on home page in our Bank’s Website indianbank.bank.in.

Documents Required:

• Duly filled in application form.
• Copy of pledged storage receipt duly endorsed in favour of the Bank.