IND AGRO Mortgage- Monthly Dropline OD Facility
IND AGRO Mortgage- Monthly Dropline OD Facility
| Target Group | All Agro Processing Units, Food Processing Units, Agriculture Infrastructure Development units, Animal Husbandry Infrastructure Development units, Dairy farm and Poultry farm, Tea Plantation Units and Other large scale agri units. |
| Purpose | For genuine Agri business needs of the applicant concern/ firm / company |
| Eligibility | Ø Last 3 year ITR along with Balance Sheet.
Ø Availability of cash flow / DSCR to service the proposed Mortgage loan as well as existing loans of the unit, should be assessed as per extant guidelines. Ø The immovable property proposed to be mortgaged should be SARFAESI compliant.
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| Nature of facility | Monthly Dropline OD Facility. |
| Quantum of Loan | Maximum: Rs. 10.00 crore |
| Tenor of Loan | Door to Door: Maximum 120 Months
Drawing Power to be reduced monthly so as to liquidate the Overdraft at the end of loan period. |
| Margin | Minimum: 40% of the Security Value (40% of residual value, if residual value of the security is considered) |
| Rate of Interest | Please refer the Lending Rates link on home page in our Bank’s Website www.indianbank.bank.in.
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| Service Charges | Processing Charges:0.50% of the limit sanctioned.
All Other service charges as per bank service charges circular issued |
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